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This study delves into the intriguing parallels between the First and Second Great Depressions in the US, exploring economic contrasts and similarities. Through extensive research and data analysis, it reveals insightful perspectives on the impact of these crises on the nation's economy. Utilizing reputable sources such as Barry Eichengreen and the Federal Reserve Economic Data, it offers a comprehensive narrative on historical economic downturns and their implications for the present-day economic landscape.
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Sources • Barry Eichengreen, Kevin Hjortshøj O’Rourke, “A Tale of Two Depressions Redux” (6 March 2012) http://www.voxeu.org/article/tale-two-depressions-redux • World Top Incomes Databasehttp://topincomes.g-mond.parisschoolofeconomics.eu/ • Federal Reserve Economic Data (St. Louis Fed)http://research.stlouisfed.org/fred2/ • Jobs Gap calculator (Hamilton Project)http://www.hamiltonproject.org/jobs_gap/