Compare the economic policies and the social views on the American standard of living during the 1920s and the consequences that led to the Great Depression to the economic policies that led to the Great Recession

Evaluate the economic policies and the social views on the American standard of living during the 1920s and the consequences that led to the Great Depression to the economic policies that led to the Great Recession through the evaluation of primary sources by focusing on the author’s main points, purpose, and perspective; examining different points of views; and assessing the credibility and validity of the pieces that analyze the different forms of government in human history. Analyze the impact of social movements and economic ideas that contributed to the Great Depression by formulating questions and addressing these questions through historical research and study to evaluate historical events and their impact.

The Great Depression was a period of unprecedented decline in economic activity. Many people in these hard times lost their jobs and in some cases their houses and family’s. It is generally agreed to have occurred between 1929 and 1939. Although parts of the economy had begun to recover by 1936, high unemployment persisted until the Second World War. The 1920s witnessed an economic boom in the US typified by Ford Motor cars, which made a car within the grasp of ordinary workers for the first time. Industrial output expanded very rapidly. The stock market had boomed to record levels. Price to earnings ratios were above historical averages. But as all good things do the booming stock market came to an end and the rise of the Great Recession began. 

 By that definition, in the United States, the Great Recession started in December 2007. From that time, until the event’s end, GDP declined by 4.3 percent, and the unemployment rate approached 10 percent. A recession is a decline or stagnation in economic growth, but the economic indicators used to define the term “recession” have changed over time.