What are the long-term effects of an economic depression?

The long-term effects of an economic depression can be significant, including high levels of unemployment, decreased investment, and a general decline in economic output. A depression can also have a lasting impact on consumer behavior, with individuals becoming more cautious with their spending and saving habits. Additionally, a depression may result in structural changes to the economy, such as shifts in the types of industries that are dominant or changes in the role of government in the economy.