Comparing The Great Depression to Todays Great Recession Free Essay, Term Paper and Book Report
was an economic downturn of world countries in the early 1930s. The current recession started in 2007 and was
at its worst in 2008.
There are several similarities between the Great Depression and the current recession. First, these two have
affected all countries, whether poor or rich. In both, product prices and tax revenues fell. These events
caused a negative impact on per capita incomes, always bringing it down. In countries that depended highly on
agriculture, product prices fall as low as 60%. This has been observed in African countries in 2008. They
include Botswana, Kenya, Angola and Mali.
The current recession and the Great Depression caused closure of businesses especially through reduced
demand for goods. The current recession, for example caused businesses such as American International Group
and Layman brothers to close.
The current recession and Great depression have led to massive loss of jobs. Businesses have had to
lay off workers to save on the little earnings. Unemployment rose to about 26% in USA. In other countries, it
rose up to 32%. T......
Word Count: 1094
Page Count: 4.3 (250 words a page / double spaced)
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