The worldwide Great Depression which began after the tumultuous events of Black Tuesday in 1929, that continued into the early-1930s had crippling effects on the Dutch economy; lasting longer than in most other European countries. The long duration of the Great Depression in the Netherlands is often explained by the very strict fiscal policy of the Dutch government at the time, and its decision to adhere to the gold standard for much longer than most of its trading partners. The Great Depression led to high unemployment and widespread poverty, as well as increasing social unrest.