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The great depression essays1929 is a year that most of our grandparents or great-grandparents remember, as it was a year when one of the most significant events occurred in the history of. Free essay: the great depression is probably one of the most misunderstood events in american history it is routinely cited, as proof that unregulated. The deflation stemmed from the collapse of the banking system, as explained in the essay on the banking panics of 1930 and 1931 essays on the great depression. The great depression was a period of unprecedented decline in economic activity it is generally agreed to have occurred between 1929 and 1939.