Economics...In Real Life

1583 Words7 Pages
The 1920s were a time of luxury and economic stability in the United States, that is, until the day the stock market crashed and the country was plummeted in to a time of misery and uncertainty called the Great Depression. The ten year span from 1929 until 1939 is one of the worst episodes the United States has ever experienced; it held a great shortage in the money supply, massive unemployment, and despair and doubt for all of the people who lived through it. Frederick Lewis Allen’s book Since Yesterday: the 1930s in America gives a wonderful depiction of exactly what went on during this period of time in the United States, it explains what everyday life was like for the common people and gives the precise reasons for what started and ended the Great Depression. Since Yesterday is a marvelous book that describes what happened every step of the way during the depression. “…if we are to understand the changes in American life during the nineteen-thirties, we must first recall what things were like before this period began--before the Panic which introduced the Depression. Perhaps the most convenient way of doing this is to imagine ourselves re-living a single day in 1929” (Allen 2), the first chapter of the book describes everyday life during the late 1920s; it talks about the kinds of fashions you would see as you walk down the street, the popular books and movies, and what you would see in the headlines of the news papers. Although the main topics of the book are the Great Depression and the events leading up to it, Allen also spends time talking about the other smaller events that occurred during this time, such as the kidnapping of Lindbergh’s son, Prohibition, the drama of Hollywood, and new technological inventions, all of ... ... middle of paper ... ...erennial, 1986. Print. Goldman, David. “Great Depression vs. ‘Great Recession.’” CNN Money. Cable News Network, n.d. Web. 24 Mar. 2012. . Maierhofer, Simon. “The Great Recession vs. The Great Depression - We May Have It Worse Now.” InvestorPlace. InvestorPlace Media, 28 Oct. 2011. Web. 25 Mar. 2012. . Sanibel, Michael. “Why Today’s ‘Recession’ Tops the Great Depression.” Investopedia. Investopedia, 27 Sept. 2011. Web. 24 Mar. 2012. . “Troubled Asset Relief Program - TARP.” Investopedia. Investopedia, n.d. Web. 25 Mar. 2012. .
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