Compare And Contrast The Great Depression And 1930s

Since the Great Depression in the 1930s the United States had not experienced a severe recession, until 2008. Many historians and economists debate over whether the economy was slipping into a double dip recession, but there is also a noticeable amount of evidence that the economic crisis America experienced in 2008 was in fact worse than the 1930s. I will examine all aspects of both, the Great Depression of the 1930s and the recession that occurred in 2008, comparing their similarities and differences of their effects on various aspects of America. The Great Depression was the largest economic collapse of the twentieth century. It began in 1929 and ended by 1940. The economic depression originated in the United States, and some historians believe the starting point was the stock market crash of 1929. The stock market crash occurred because people took out loans while they were in a difficult position to repay the loans. The stock market crash led to a decrease in the …show more content…
Whether new regulations might be needed to prevent a reoccurrence was a serious concern and whether some of the tighter regulations should be internationalists also considered. A related concern was whether such regulations should be applied to non-bank financial institutions as well as banks. The government was trying to determine how to escape the economics positions that put the economy at risk with ongoing deficits and future inflations.
The effects the American people faced from the Great Depression and the 2008 recession are not similar. During the Great Depression the majority of Americans lost all their savings and were stricken with homelessness and starvation. Many Americans were laid off from their jobs and were forced to cut down on spending and make lifestyle changes as a result of the 2008 recession, but nothing as drastic as what people faced in the Great