What differs though between these economic time periods, would be that the Great Depression was significantly harder to live during. The Recession only lasted for 2 years while the Depression was throughout the entire 1930s. Also during this time, the center states were dealing with a severe drought. Unemployment rate was also much higher at 25% compared to the 8% to 9% now. Social security, medicare, variety of public assistance programs like unemployment payments and food stamps were largely non-existent in the 1930s.
These two time periods of economic downfall were horrible times for people. While these two periods in our economy have several differences and many similarities as well, such the difficulty in receiving money from bank banks but they differ in that the Great Depression was much more difficult to go through.
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