The Great Depression and the Great Recession are two periods of economic contraction both economic and social. A country 's economy is measured with a method called the, business cycle. The Business cycle is a series of cycles in the economy either by expansion or contraction. The Great Depression was actually caused by the economy sky booming, while the Great Recession was caused by rampant unemployment and the burst of the housing bubble. Although the Great Depression and the Great recession are both contractions in the business cycle, they differ in their causes and effects. Life before the Great Depression the Roaring Twenties was the time after World War I filled with joy. A good example is in the story he Great Gatsby, people
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Another major factor of the Great Depression was farming. As farmers were getting paid less, they thought the only way to support themselves and their families would be to produce more goods to sell in order to make more profit. Unfortunately that didn’t work out so well for them. Resulting into angry protests that had no end turning into mobs threatening to withdraw dairy products from farms reaching into cities this strike was known as The Farm Strike.” Also causing a major effect on city people. Whereas farmers had the stability to sustain themselves with the crops they produce on their farm’s like milk, bread, corn, etc also burning corn instead of coal in a way to save money. Even some farm wife 's made clothing out of the cloth from flour and feed sacks. However these farm families still needed money to pay their tax and debt off to the …show more content…
Himself along with members in the white house resolved this crisis by passing the American Recovery and Reinvestment Act. The White House claims “$787 billion of tax cuts and spending, with the total split roughly one-third tax cuts, one-third government investments, and one-third aid to the people most directly harmed by the recession and to troubled state and local governments.”. Treatments however affected the wealthy; Obama’s plan was to take more taxes from the wealthy and disturbing it to the middle class. Many events can occur causing a country to enter a Depression/Recession. The great
Depression and the Great Recession both are dreadful events both by different causes. The Great
Depression being from the weak banking system while the Great Recession being the bubbling in
Housing. Two different causes yet the result are similar. The Great Depression impacted not only The United States but also on a global scale. Every
Country reacted differently but all resulting into bigger issues like World War II. World War II
Arguably could have been caused by the Great Depression. Countries like Germany acted to
Militarism as a way to pick the country back up from its feet. The Soviet Union president Joseph
Stalin forced farms to give the government products for cheap. Historians estimated that an approximate of 20 million people have died from starvation and deliberate
Another major factor of the Great Depression was farming. As farmers were getting paid less, they thought the only way to support themselves and their families would be to produce more goods to sell in order to make more profit. Unfortunately that didn’t work out so well for them. Resulting into angry protests that had no end turning into mobs threatening to withdraw dairy products from farms reaching into cities this strike was known as The Farm Strike.” Also causing a major effect on city people. Whereas farmers had the stability to sustain themselves with the crops they produce on their farm’s like milk, bread, corn, etc also burning corn instead of coal in a way to save money. Even some farm wife 's made clothing out of the cloth from flour and feed sacks. However these farm families still needed money to pay their tax and debt off to the …show more content…
Himself along with members in the white house resolved this crisis by passing the American Recovery and Reinvestment Act. The White House claims “$787 billion of tax cuts and spending, with the total split roughly one-third tax cuts, one-third government investments, and one-third aid to the people most directly harmed by the recession and to troubled state and local governments.”. Treatments however affected the wealthy; Obama’s plan was to take more taxes from the wealthy and disturbing it to the middle class. Many events can occur causing a country to enter a Depression/Recession. The great
Depression and the Great Recession both are dreadful events both by different causes. The Great
Depression being from the weak banking system while the Great Recession being the bubbling in
Housing. Two different causes yet the result are similar. The Great Depression impacted not only The United States but also on a global scale. Every
Country reacted differently but all resulting into bigger issues like World War II. World War II
Arguably could have been caused by the Great Depression. Countries like Germany acted to
Militarism as a way to pick the country back up from its feet. The Soviet Union president Joseph
Stalin forced farms to give the government products for cheap. Historians estimated that an approximate of 20 million people have died from starvation and deliberate