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Great Depression In The 1930's

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What is the greatest economic since the Great Depression in the 1930’s? Economist’s today are calling it the Great Recession of 2008. To start, there is history that needs to be addressed to compare the impacts of the Recession to modern times. The Great Depression got so bad that people were issued ration stamps in order to receive common goods to survive. People had to farm and make their own cloths, and if by chance a person had shoes they were considered very fortunate. The money system was almost not existent one could say because of the amount of trading that was done to survive. One of the main differences in the Great Depression is that the rich didn’t get richer overall. According to R.A., J.S. AND L.P., “the top 1% only captured about 28% of total income growth from 1933 to 1936”. (R.A). The rich did continue to get richer though as it is said in the years coming after the depression was over, and a major leap when the Great…show more content…
Investors and mortgage holders owe so much money to different firms that is has become almost an irreversible meltdown. The government tried to raise and cut taxes where they think they can get caught up and it doesn’t change. Money is owed by nearly every institution as well as the day to day expenses that each one occurs. Homes in major cities around the country lay to waste leaving blocks of run-down wasteland. Jobs and unemployment are just now starting to stabilize. Th economy is making a slow change for the good, but you must take baby steps after you fall. According to the Bureau of Labor Statistics Chart October 2007 unemployment was at 4.7% and rose to 10% by the year 2009 and everything from construction to professional and business services decreased by an average of 37.4% (Bereau Of Labor Statistics). These statistics are horrible and one can only hope we do not repeat our mistakes. A conclusion can now be made with all the factors stated
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