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Essay / Research Paper Abstract
This 6-page paper offers comparisons between the Great Recession and Great Depression. Bibliography lists 4 sources.
Page Count:
6 pages (~225 words per page)
File: AS43_MTdeprrece.doc
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Unformatted sample text from the term paper:
because of the depths of misery it brings. This was the case with the Great Depression of the 1930s and the Great Recession began in December, 2007. Though the latter
wasnt as prolonged as the Great Depression (it ended in ), the United States continues to feel a lingering impact of that economic downturn. Great Depression
Its commonly believed that the stock market crash of 1929 caused the Great Depression, but there were signs, even before the market crashed, that things were
out of whack. For one thing, too many people were buying too much stock on margin and buying too many things on credit - and for another, too many products
were flooding the markets even before the economy went south - as a result, there was too much product that simply couldnt be absorbed (Causes of the Depression, 2011). Because
of this, and other factors (Fed and governmental policies), the National Bureau of Economics pegged the start of the 1930s recession on August, 1929, two months before Black Friday.
Regardless of when the Great Depression actually started, the impact was profound - it put the country into a 12-year-long funk in which
few jobs were created and a general malaise was prevalent. One negative effect of the Great Depression was unemployment - by 1933, it had hit 25%, meaning one out of
every four people in the U.S. was without a job. Another negative impact was a run on banks which, in turn, led to bank failures. People couldnt get their money
out of their banks once they shut their doors (as their reserves were depleted), which added to the illiquidity of most Americans. A
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