The Long Depression was a prolonged economic downturn that began in 1873 and lasted until about 1896. It was marked by a significant decline in industrial production, high unemployment rates, and deflation. The crisis was triggered by the collapse of the Vienna Stock Exchange and was exacerbated by various factors, including overproduction and a series of banking failures. During this period, many countries experienced economic hardship, leading to social unrest and political changes. The Long Depression affected major economies, including the United States and Europe, and prompted discussions about economic policies and reforms that would shape future financial systems.