Respuesta :
A significant boom preceded the Great Depression, when the U.S. economy was booming and allowed for extravagance and widespread consumption.
How is today different from the Great Depression?
The Great Depression stood out from the subsequent recessions in the eyes of Main Street. That time period, when the economy shrank in half, was characterized by protracted breadlines and a chronically high unemployment rate of about 25%. At the risk of oversimplifying, this was caused by a "deflationary spiral," in which a lack of overall demand led to decreased company activity, which in turn resulted in job losses and falling consumer demand.
The 1929 stock market crash was one of the early triggers, much as the COVID-19 public health crisis is now.
However, the ten-year downturn that ensued was made worse by repercussions in governmental policy, the banking system, and consumer behavior.
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