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The Great Depression

Can someone help me better understand the similarities between the causes of the GD and the current global economic crisis?

I understand the GD is said to have been primarily caused by the stock market crash in 1929 and was then heightened by other impacts such as bank failures, decrease in demand, high unemployment etc but how can I understand the similarities (or differences) more deeply? Can you help explain?

Also, what is the Keynesian theory and how does this relate?

Please use about 1000-1500 words.

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The Great Depression and the current global economic crisis - to what extent are the causes of these the same?
Can someone help me better understand the similarities between the causes of the GD and the current global economic crisis?

I understand the GD is said to have been primarily caused by the stock market crash in 1929 and was then heightened by other impacts such as bank failures, decrease in demand, high unemployment etc but how can I understand the similarities (or differences) more deeply? Can you help explain?
You are right the Great Depression was triggered by the stock market crash in the 1929 and the effect was heightened by bank failures. In the present situation there are neither stock market crashes as dramatic as those witnessed in 1929 nor are there banking failures. One of the main reasons for the difference is there is close watch over the activities of the stock exchanges and there are controls in place that will not allow a similar crash. Also the Federal Reserve is very active and powerful and will not allow banks to crash or go into liquidation.
The present situation began in 2007 with the subprime crisis. What followed was the crash of investment bankers like AIG, Freddie Mac and the Lehman Brothers. The basic difference between what happened in 1929 was that the economy was essentially weak. There was widespread poverty and hunger was widespread. Currently, even though there are economic pressures there is no poverty of the type that existed in 1929. That apart the onset of recession is relatively gradual. People have time to get used to driving less, using less air-conditioning, less visiting, and less driving for shopping.
The changes that were seen in 1929 were that people used to take up gardening and used whatever was produced. They cut down on shopping. This situation now could mean a greater use of home-grown fruit and vegetables, and more of home-spun ...

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