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Description of  The Great Depression

When the United States suffered through the Great Recession of 200709, the downturn was frequently referred to as the worst since the Great Depression. Indeed, at 18 months, the Great Recession was the longest recession the U.S. had experienced since the 1930s. Still, even that recent experience cannot give people today much of a feel for what America went through from 1929 to 1939, when the Great Depression held the nation (and much of the world) in its grip. Spanning two recessions totalling a combined 56 months, the Great Depression was not simply a temporary economic setback but a period of severe hardship that profoundly affected both rich and poor. It changed the course of world politics and left a permanent mark on U.S. government institutions and American popular culture. In the generation that witnessed it the Great Depression instilled a profound caution about money, an ethos that was in stark contrast to the excesses that later led to the global financial crisis, which significantly worsened the Great Recession in 200809. This book is designed to give readers a view of the Great Depression, not purely from an economic standpoint but also with respect to its personal, political, and cultural effects. This book will also give readers a sense of the diverse forces that influence economic growth. A discussion of economic cycles is a useful starting point for this examination of the Great Depression because it helps put the events of the time in perspective.