Translation guide
The Great Depression refers to the severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States. In Japanese, it is most commonly referred to as 世界恐慌 (World Depression) or 大恐慌 (Great Depression).
Great Depression
Most common term for the historical event.
Referring to the worldwide economic depression of the 1930s.
The most common and standard term for the Great Depression as a global historical event. Literally 'World Depression'.
The Great Depression began in 1929.
Also common, but can sometimes refer to any major economic panic. In context, it usually means the Great Depression.
During the Great Depression in America, many banks failed.
Both are used, but 世界恐慌 explicitly means 'world depression' and is unambiguous. 大恐慌 can mean 'great panic' and might need context to specify the 1930s event.