Boom and Bust: Economic highlights of the past century Differences between the Great Depression , and the Great Recession of Use of Deficit Spending and Monetary Policy Hist of econ boom & bust: 2.4minhttp:// Understanding the National Debt and Budget Deficit 6 min oct Creation of many postwar institution, e.g., WB and IMF to fix economic problems considered as responsible for the Great Depression of A special US law- Employment Act of 1946, was passed to empower the President to prevent another depression.

3. WB and IMF monitoring global economies reduced sharp fluctuations in boom-bust econ. cycles. 4.Dollar & Euro have stabilized global monetary stability in modern times. Such stability in Europe prevented the hyperinflation in the German and Hungarian currencies that occurred during the great depression of Coordination between International institutions - IMF and International investment institutions - helped to stop the worsening of the crisis and facilitated coordinated responses in dealing with the international economic crises.

GDP Growth: what is recession? A recession is when economic growth contracts for two quarters straight and lasts more than a few months. It is recession when economic activity significantly declines and the decline is spread across the economy. The decline will be visible in real GDP, real income, employment, industrial production, and wholesale-retail sales. Under depression, GDP drops 10%, e.g.: During 1929 and 1933, the GDP dropped > 30% in the US.

Global Industrial Production Great depression: Industrial production massively declined for 3 years 2008 Recession: Although markets globally was jolted by the initial shock, trade and production continued at slower levels. Globally, compared to the Great depression period, production is increasing the output.

Bank Foreclosures From January 30, 1933 to March 1933, US bank failures: 9,096 (represented 50% of US banks). From December 2007 to May 2009, bank failures: 57 (0.6 % of US banks).

Unemployment At the intense level of the Great Depression: unemployment 25%. During 2008 recession: unemployment 9.80%. Length of Average Unemployment As in the Great Depression, unemployed are without a job for a long duration. By the beginning of 2010, Americans have been unemployed for 35.2 weeks while trying to find a job

Protectionism Free Trade vs. Protectionism 3min 2011 As during the Great Depression, 2008 crisis and recession are global. The new institutions and structures of groups of countries - G20, the E.U. Commission, and the IMF, have worked to avoid protectionist policies.

Double Dip During Depression …is it likely to repeat now? During the Great Depression there were two major economic stages of dips. 1. From August 1929 through March From May 1937 to June 1938