The Great Depression v the recent recession

I recently received the e mail below from an 8th grade student. The e mail and my response are provided and I wanted to both speculate on the assignment and provide a flushing out of my thoughts.

The assignment may have challenged the student to compare the causes of the 1929-1933depression to the 2007-2009 recession. This in and of itself would be an interesting exercise. The assignment may also push the student to compare the downturns and consequences and finally examine the responses to each downturn.




In addition to the similarities outlined below I would underscore two - the global nature of both contractions and the role that stress on the finanical system played in both cases.

Williamson and O Rourke compare world output then and now:




http://www.wealthvest.com/blog/wade-dokken/great-depression-vs-great-recession-devaluation-unemployment-global-trade-everything/

http://money.cnn.com/news/storysupplement/economy/recession_depression/
Sources

Vox - a Tale of 2 Recessions

CNN Comparison - Great Depression and Great Recession

Freeman comparison
Bruce Bartlett - Forbes

Pew Analysis

I am currently attending Rancho Solano Private Schools and I am in the 8th grade. The reason I am contacting you is because my humanities and U.S. History teachers have recently given me a documentary assignment. They gave me the decision to chose what my topic is to be about, and I chose to discuss the Great Depression and our current Recession by talking about how they are similar, different, and ultimately, if the recession is turning into another Great Depression.

I am in need of a professional viewpoint on this subject, which is why I have decided to contact you. I was wondering if I could sit down and have an interview with you for no longer than 15 minutes about my topic. It is very essential to my documentary project. If you are available, please contact me at ---- or email me at ------. I would like to interview you before 24th of April because on the week of the 25th I will be going on my 8th Grade trip to Catalina. Thank You for your time.


I would be pleased to talk with you - you may e mail me your questions or call me at 480 206-1139. Before calling I recommend you take a look at the following:



Economic growth over time

http://www.youtube.com/watch?v=jbkSRLYSojo



US Business Cycles over time

http://www.nber.org/cycles/cyclesmain.html



Economic Growth in the US

http://visualizingeconomics.com/2008/05/04/average-income-in-the-united-states-1913-2006/



A simple comparison

http://money.cnn.com/news/storysupplement/economy/recession_depression/



Questions of interest about the 1929-1933 downturn (see link 2) and the 2007-2009 downturn (see link 2)



1. Causes - similarities and differences?



2. Downturn itself - see the last link.



3. Responses to the downturn - what "cured" the Great Depression - (hint: it was not WW2).



I do not hold a phd so you should not use the Dr. title -



Greg