Changing Planet

Great Depression vs. Great Recession

The economy has been at the top of mind for some time across much of the world. We have learned that the global economy is increasingly inter-related, and although the Great Recession may have officially ended a few years ago, its effects are very much still being felt.

A lot of people have drawn parallels between the recent Great Recession and the Great Depression of the 1930s.

This new infographic by Nowsourcing, for a loan company, takes a look at some of the comparisons. We thought it was worth a look.

Infographic: The Great Depression vs. The Great Recession
The Great Depression vs. The Great Recession by Payday Loan.co.uk

  • Rex

    Your graphic is a lie. You are not getting your statistics from any reputable source. The government is not reputable. Quit trying to fool people with your propaganda.

  • Heather

    I don’t get it. Where did they get that unemployment rate? I read much higher ones in the newspapers. Why is there nothing about foreclosures here? See Mother Jones for some better graphics depicting the trouble we’re in!

  • GC

    Rex: How are CNN and CBS News not reputable?
    Also, I don’t think propaganda means what you think it means.

    Heather, I think that unemployment rate is where we currently are, but maybe it should show where it was at its worst during this recession, as I’m assuming was down with the Great Depression number.

    And while I agree that there should be something on foreclosure in there, I wonder if there’s anything to compare that with from the Depression era…

  • Dan Durban

    We thought it was worth a look. An empty phrase- “worth a look” not worth an explanation, not worth an analysis.

    No attempt to explore the numbers behind the statistics, to put it into context based on population, monetary inflation, or growth in GDP over the time periods being compared.

    this is empty economic propaganda, meant to provide assurance thru comparitive graphics, while providing no real meaningful information or explanation of where the data was mined from or how it was massaged.

    This would do Pravda proud, I didnt realize NatGeo was also part of the CIA propaganda effort.

  • Christine

    Interesting how this graphic is presented by Paydayloans, the biggest shark in the money lending pool…And clearly not accurate. Missing information, on how many people have been unemployed for 2 years or more and have given up looking for work because they’ve been ‘aged’ out of the workforce, or become disabled by crippling depression from not being able to contribute meaningfully to society in so many years. Not to mention, nothing about foreclosures. How many Tens of thousands of people have lost their homes due to the downturn in the economy. How many people who have lost their life savings in the wallstreet collapse…etc.

  • Rich

    It say a “simple comparison” so come on you can’t expect a Harvard professor review of things. I think it’s pretty interesting and if I want to know more ill look at the sources for a more in depth review etc.

    Also would foreclosure rates really be a good measure as surly more people rented back then so it would in all likely hood not be an accurate comparison anyway!!

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  • Gene Ogorodov

    The graph is an intesting comparason between the Great Recession and the Great Depression which syas one thing that everyone knows (no matter how pessimistic his/her outlook might be) it isn’t as bad now as it was in the 1930’s. However, the question isn’t are things worse now than they were, but what are the prospects for the immediate future? Your graph suggest that the prospects are considerably worse than they were five years into the Great Depression. Firstly, absolutely no reforms have been made to return investor confidence to the market. Second, the Fed has taken the risky bet on quatative easing. Third, the official numbers have been fudged–for example, if unemployment were calculated at the labor market participation rate for 2004 it would be apx 13.5%. All of this is topped off with the financial markets being roughly 1.5x the size of the real economy of the US. It is inevitable that the financial markets will implode again taking 50% of the US economy, and the government is as feckless as the Weimar Republic. The future for the US looks a lot like 1989 USSR meets 1932 Germany.

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