In Chapter 12 we summarized the industry level evidence in favor of our view of the Depression. There are other ways in which economic activity can be disaggregated, however. One of these is geographically. The main thrust of this chapter is to show that the geographic experience of the Depression, both internationally and internally, is poorly explained by existing theories, and that our approach is able to cast much light on the question of why some areas suffered more than others. At the end of the chapter, we turn our attention briefly to gender and racial differences in employment experience, and again conclude that these can only be understood within a sectoral approach such as ours.