The global economic instability that emerged in the 1920s was primarily caused by a combination of factors, including the aftermath of World War I, the Treaty of Versailles, the Great Depression, and the stock market crash of 1929. The aftermath of World War I left many countries devastated and in debt, leading to economic instability. The Treaty of Versailles imposed heavy reparations on Germany, further contributing to economic turmoil. The Great Depression of the late 1920s exacerbated these issues, leading to widespread unemployment, deflation, and financial strain. The stock market crash of 1929 was the final tipping point, triggering a worldwide economic crisis.
