The main purpose of the study is to present the general dynamics of the Great Depression in Bulgaria, the causes and factors that gave a specific appearance to its manifestation in the country, its phases and forms, as well as the subsequent structural change and trajectory of the Bulgarian economy and society. Along with reconstructing the historical facts, we have tried to present the history of economic thought and the debates that accompanied them. Without falling into determinism, we argue that the overall dynamics of the causes, phases and consequences of the Great Depression had an internal logic and causal consistency.