Causes Of The Great Depression And The Great Recession

1. Examine the causes of the Great Depression of the 1930s and consider what similarities and differences can be drawn with the problems from the financial and economic crisis which began in 2008. Introduction 2007-2009 in America has often been described as the worst economic crisis since the Great Depression in 1929. There was lots of debate whether the economy was slipping back to double dip recession but there is considerable evidence that the economic crisis in 2008 is worse than the crisis in 1930s. I will examine the cause of depression in 1930s and the relationship between the Great Depression and the Great Recession in 2008 comparing their similarities and differences of their facts and various aspects of America. The Great Crash The Great depression was the largest economic collapse of the 20th Century. It began in 1929 and ended in 1940. The economic depression originated in America and no one knows exactly what final event was to blame but some historians believe that the starting point was the stock market in 1929. On ‘Black’ Tuesday, October 29, 1929, a rapid fall of selling of shares in the stock exchange crushed the stock exchange. On occasion there were no offers to buy stock at all but just to sell it. And by the end of the trading session 16,410,000 shares of stock had been dumped, a number never been know before at that time. After a few weeks some $30 billion of wealth had evaporated in to air. GDP- the measure if the nation’s total output fell byShow MoreRelatedWall Street : The Great And Powerful Financial District Of The World1407 Words   |  6 Pages Wall Street is the great and powerful financial district of the world. With that statement being true Wall Street isn’t perfect. 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