Comparing The Great Depression And The Great Recession

1140 words - 5 pages

Comparing the Great Depression and the Great Recession
In the 1920s, change was very prominent. The Jazz Age was in effect, women were challenging the views of men all around them by changing their image, and many products such as cars and household appliances were being bought. Women started wearing short skirts, and they started drinking and smoking. These women were called flappers. The image change of women was not the only thing that shocked the United States though. Many of the appliances that were bought in the 1920s were bought on credit. Because many people were buying on credit, manufactured goods were produced plethorically. The over production of goods and the rise of personal ...view middle of the document...

Comparing and Contrasting Hoover, FDR, and Obama
Eight months after Herbert Hoover was elected for president, the stock market crashed. “Since the crash, Hoover had worked ceaselessly trying to fix the economy. He founded government agencies, encouraged labor harmony, supported local aid for public works, fostered cooperation between government and business in order to stabilize prices…” (Herbert). Herbert fixated on indirect relief from each individual state too. Although President Hoover did many good things during the Great Depression, he also did many bad things. For example, as the depression of the 1930s became worse, increased federal intervention was needed, but Hoover refused to have the federal government force fixed prices, control businesses, or wield the value of currency. Herbert did not let them do this because he thought that they were steps toward socialism. Instead, Hoover focused more on volunteering to raise money. Many Americans were mad about this, and that is why he was not reelected. In 1932, Franklin D. Roosevelt was elected president over Herbert Hoover.
On Election Day in 1932, Franklin Roosevelt became the thirty second president of the United States. By March of Franklin’s presidency, 13,000,000 people were unemployed and almost all of the Nation’s banks were closed. Roosevelt had many ideas that were put into place. Some of those ideas were the following: Social Security, heavier taxes on the wealth, a huge work relief program for people who were unemployed and new controls over banks and public utilities. According to howstuffworks, social security is a program that uses public funds to provide a degree of economic security for the public.” This government-funded program was established in 1935 under the president Franklin Roosevelt. Employees and employers in the United States are required to pay Social Security taxes. Most of the money from these taxes are used to benefit the men and women who have reached their retirement age. Because of Roosevelt’s actions in his first term as president, he re-ran for the 1936 presidency, and he won in a landslide.
Barack Obama, president from 2008-current, was the president during the Great Recession of the 21st century. The Great Recession was a time period during the beginning of the 2000s that was an economic downfall or Americans. “The key source of the recession was clearly the popping of the house bubble and the ensuing financial crisis. In matter of months, trillions of household wealth...

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