Great Depression Vs Great Recession Free Essays
The fact that jobs are returning ever slowerafter recessions, or even not at all, is due to two major factors: 1) The underlying contradictions of the capitalisteconomy are becoming ever worse, and it is getting harder and harder to resolve them even temporarily.
Great depression vs current recession essay - Logmais
A year and a half after this recession is said to be over by bourgeois economists even the official unemployment rate is still around 10%, and the actual unemployment rate, including long-term discouraged workers who have given up looking for work, is over 20%.
The American economy entered a mild recession during the summer of 1929, as consumer spending slowed and unsold goods began to pile up, which in turn slowed factory production. Nonetheless, stock prices continued to rise, and by the fall of that year had reached stratospheric levels that could not be justified by expected future earnings.