Economics often presents events in terms of numbers and policies without the per

Question

Economics often presents events in terms of numbers and policies without the personal narratives of those involved in the economic event. One way to get a sense of the human toll of the Great Depression is through photographs. Take a look at an online photo essay on the University of Illinois website. (http://www.english.illinois.edu/maps/depression/photoessay.htm)
A: Does this essay change your understanding of the Great Depression? If so, in what way?
B: Based on the images how does the Great Depression compare with the current situation?
C: Does the essay impact your opinion whether to support Classical or Keynesian policies to fight the Great Depression? Economics often presents events in terms of numbers and policies without the personal narratives of those involved in the economic event. One way to get a sense of the human toll of the Great Depression is through photographs. Take a look at an online photo essay on the University of Illinois website. (http://www.english.illinois.edu/maps/depression/photoessay.htm)
A: Does this essay change your understanding of the Great Depression? If so, in what way?
B: Based on the images how does the Great Depression compare with the current situation?
C: Does the essay impact your opinion whether to support Classical or Keynesian policies to fight the Great Depression? Economics often presents events in terms of numbers and policies without the personal narratives of those involved in the economic event. One way to get a sense of the human toll of the Great Depression is through photographs. Take a look at an online photo essay on the University of Illinois website. (http://www.english.illinois.edu/maps/depression/photoessay.htm)
A: Does this essay change your understanding of the Great Depression? If so, in what way?
B: Based on the images how does the Great Depression compare with the current situation?
C: Does the essay impact your opinion whether to support Classical or Keynesian policies to fight the Great Depression?

Explanation / Answer

Answer.

(A) The essay shows the real pictures of great depression of 1930s, it looks more scary than what we study through economic policies. High unemployment, stock market crash, etc situations like these created an imbalance in the economy.

(B) Current situation is far much better than the depression of 1930s. At that time, the unemployment rate was around 30% in USA while at present the unemployment rate is around 7%. The stock market crashed in the 1930s, now the stock market is functioning well. Many camps were made in order to take care of unemployed migrants in 1930s. The present situation is much batter than 1930s.

(C) The classical economic policies were failed during great depression. Prof. J M Keynes emerged with his new economic policies and theories. The essay just depicts the pics of great depression. It says nothing much about the classical or keynesian policies.

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