Essay Sample about the Great Depression and Recession

Great Depression and the Great Recession essay

It is probably not a secret that most people love their own countries. They think that their homeland is the best and I do not think that it is strange. In my honest opinion, it is quite normal that people do that but their point of view is subjective.

To my mind, the best country in the world is the United States of America but it is not an ordinary statement, which is unproven and unreliable. There are many objective factors which prove my point of view.

First of all, when we talk about such an important issue as the succesfulness of my country, we should probably admit that our economic system is one of the best. Our country and entrepreneurs produce billions of dollars every year, which our wise politicians and the government invest in the development of progressive spheres. I think that it is really impressive that we have some many talented people who are ready to create something new and try to sell it not only at home but also far away from their own land.

Second, do not forget about strong democratic principles. If you live in the US, you can be sure that you can self-realize yourself without any problems. Of course, do not think that it is something like a paradise, in which you can lie under the sun and the money will be sent to your bank card instantly without any problems. If you really want to gain success, you should work hard every day. It is like a competition, in which you can whether win or die. However, it is really possible to win while other countries can give you only one possibility and I think that you will not be really interested in this alternative.

Finally, we should mention about independent courts, which can protect your interests. If you think that your rights were breached, you should sue and the court can solve your issue. It is really important because only this aspect can ensure a successful future for your state.

However, we should probably admit that this situation was not constant. As you know, not so far ago, our country was in a huge and terrible economic crisis, which changed our perception of a life. I am talking about the Great Recession at the beginning of the twenty-first century. Most people compare this crisis with the Great Depression. As for me, I do not think that these two phenomena are similar. There are many different aspects, which can prove that these problems were caused by different reasons. For example, most professional scientists with enormous experience declare that the Great Recession was synchronized with the global integration of markets. Such synchronized recessions last longer than a typical economic downturn. Moreover, they are characterized by a slower recovery. As for me, it is really sad because, at the first glance, this crisis looks like an ordinary economic downturn, but wise people understand that these problems are always connected with unemployment issues. In addition, do not forget about the worsening of the welfare of the population, the rise of dissatisfaction among the general masses of citizens, and the aggravation of the situation that is associated with the crime.

Moreover, when we talk about these two problems, we should admit that the Great Recession is only the first step to the Depression, which can be in the near future. Finally, there are many countries, which can fail to implement appropriate reforms to avoid triggering feedback mechanisms. The mechanism, which can turn the recession into a depression.