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ISSN Number:
2582-8568
Journal DOI No:
03.2021-11278686
Title:
Revisiting the Macroeconomic Causes and Effects of the Great Depression and the Great Recession
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Cite this Article:
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Revisiting the Macroeconomic Causes and Effects of the Great Depression and the Great Recession, International Research Journal of Humanities and Interdisciplinary Studies (www.irjhis.com), ISSN : 2582-8568, Volume: 2, Issue: 11, Year: November 2021, Page No : 109-116,
Available at : http://irjhis.com/paper/IRJHIS2111019.pdf
Abstract:
The Great Recession which initiated in 2008 was a recent economic crisis that had widespread implications across the globe. The Subprime Crisis in the United States triggered the recession, which later turned into a global contagion. On comparing the magnitude of devastation that occurred in the Great Depression about a century ago, the impact of the Great Recession seems dwarfed. This article gives an overview of the causes and effects of the Great Depression of the 1930s and the Great Recession which took off in late 2007. An attempt has been made to juxtapose both these scenarios which caused the economic disarray and the aftermath. The impact of the Great Recession on the Indian economy has also been briefly touched upon.
Keywords:
Business cycle, recession, depression, economic crisis
Publication Details:
Published Paper ID: IRJHIS2111019
Registration ID: 20474
Published In: Volume: 2, Issue: 11, Year: November 2021
Page No: 109-116
ISSN Number: 2582-8568
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