What Is Great Depression Compared To The Great Recession

When the Great Recession is spoken about it us usually linked to the Great Depression because it had a similar economical effect on the nation. The unemployment went down, there was poverty, family had little or no resources left and lastly it was hard to recover from it.

The Great Depression first started as early as 1928, but did not affect the United States until 1929. The Great Stock Market crash started the event of the Depression here in America, but was not the main cause to why it happened. During the early stages of the depression, President Hoover failed to help the economy and continued with his belief system of giving people the least help they needed, so they can earn themselves a rightful spot with pride, not with government’s help. The Great Depression was a very intense experience for us, even until today, the

The Great Depression started in 1929 and lasted up until 1939. It happens to be the worst economic downturn for the United States and the the rest of the world. It caused companies and corporations to eventually go bankrupt as well as workers to be laid off. Another effect of The Great Depression is that factory production was reduced, and the banks started to shut down. In the lowest point of The Great Depression in 1933 nearly 15 million workers in America were unemployed and one half of the banks started shutting down.

When most people hear the phrase “The Great Depression” they only associate it the crash of the stock market and the hard times that followed. Here in the Midwest, when we think of the Great Depression we also think of the Dust Bowl and the Dirty Thirties. The Great Depression was a very climactic end to a series of poor choices that greatly affected the entire United States.

The Great Depression, was the worst economic downturn in American history. Many Americans believe that the only cause of the Great Depression was the stock market crash of 1929. There were several causes of the Great Depression.As it started to get worse and worse by 1933 it reached to rock bottom.Nearly 15 million americans were unemployed.Also at this time almost half of the banks were closed.Meanwhile lots of people blamed the president at the time,Herbert Hoover.Although all of the struggles the americans went through it really shaped our country now.We learned from the mistakes and overall we are a better country

While There Are Many Similarities Such As Bank Crisis’s, High Unemployment Rates And The Great Loss Of Consumer Confidence, There Are Still Great Differences Such As, Today’s Government Seems To Have Quicker When A Rescission Starts, And The Fact That The Great Depression Ended Because Of WWII, If Debt Can End By War, How Come The National Debt Is Not Paid Off Yet, I Wonder?

The Great Depression was a harsh global economic depression in the decade prior World War II. The Great Depression, while it happened far before the “Great Recession” of 2008, it can be greatly compared. During the Great Depression, all income, tax revenue, and prices dropped. International trade decreased by more than 50%, and U.S. unemployment climbed to just above 25%. Industrial cities like Detroit and Pittsburgh took the heaviest hits. While the recession of 2008 was not as drastic, it affected the world economy and resulted in a global recession more so than ever before. The percent of U.S. citizens unemployed had reached 10% as of 2009. Along with the challenges unemployment presented, consumer

The Great Depression was hard and full of suffering but when you take a closer look that time period gave us a lot of things that helped make the united states what it is today. America in the 1930’s was like a yoyo. There were some inevitable downs but the hard times ended and we always came back up. The decade long financial crisis showed us how to change our economy with a positive impact. People respond to change with adversity and creativity. Adversity provides new opportunities to learn and advance. The Depression brought our nation together and set us with a common goal in mind; fix our nation.

The Great Depression happened to do a considerable measure with the economy, Including the business numbers dropping enormously. The Great Depression ranked as the worst and the longest period of high unemployment and low business activity in the 1900 's. Banks, factories, and shops closed. Millions of people were left jobless and penniless. unemployment had risen from 8 to 15 million (roughly 1/3 of the non-farmer workforce) and the gross national product had decreased from $103.8 billion to $55.7 billion. Many people had to depend on the government or charity to provide them with food.

     The Great Depression was a huge economic downfall in North America and involved many other industrialized countries of the world. The Depression began in 1929 and lasted for about ten years. Millions of people lost their jobs along with many businesses going bankrupt. The common misconception of the Great Depression is people think that the stock market crash was the main cause for it. There were many causes for the Depression; unequal distribution of money during the 1920’s was the main cause of the Depression. This unequal distribution happened on many different classes of people. The imbalance of money is what created such an unstable economy. The stock market was doing much worse than people thought

The Great Depression took an enormous toll on the people living through it. The people living through the great depression had to suffer for years with little income and pocket-sized savings. People were obligated to, “cut back on everything possible.” Farmers lost money due to no rain for crops to grow, and nevertheless tried to take out loans from the government. Some buildings like the Marion Building and Loan went bankrupt, putting jobs in jeopardy. The people living through The Great Depression learned to live with almost nothing. The people were able to pull the economy together and stop The Great Depression, but consequently the bad majorly outweighs the good.

George Santayana, a Spanish poet and philosopher said, "Those who do not learn history are doomed to repeat it." This quote applies to the Great Depression of 1929 and the Great Recession of 2008. There are many similarities between the two, like the causes, the actual events, and the aftermaths. Several factors led to the Great Depression, which were the following: overproduction by business and agriculture, unequal distribution of wealth, Americans buying less, and finally, the stock market crash of 1929. The Great Recession also had similar factors leading to it, like the housing “bubble” burst and less consumer spending. In both events, the Presidents enacted programs that they believed would help the American people.

First of all, the Great Depression made many people lose their jobs. The people lost their jobs because the economy was slowing and the people needed more money. The economy was slowing because the more people without jobs,

market prices in the New York stock exchange in October 1929. During the next few years

The Great Depression and Great Recession were two unique events that had monumental impact on the economy. Both had similarities, and differences that made them unique. The Great Depression was caused by people living on credit, and when it was time to pay they didn’t have the money, this happened on a wide spread scale. The crashing of the stock market was what officially started the Great Depression in 1929. The great recession was caused by subprime mortgages as well, as risk taking by financial institutions. Much like the depression people were living over their heads, and when it was time to pay their bills they were unable to. Both the Great Depression and Great Recession were brought on by bubbles, for the Great Depression it was the stock market bubble, for the Great Recession it was the housing bubble.