Is the current economic crisis the new “Great Depression”?
Every day it seems someone is seeking to compare the current financial crisis with the Great Depression of the 1930s. There’s no doubt these comparisons are an attention grabber. But how do today’s events really match up?
A search of a newspaper database reveals 30,000 mentions so far this year of the term ‘Great Depression’. References to dust bowls, long and winding dole queues and overflowing soup kitchens are getting a real workout.