FYS 101 L111 The Great Recession and the Great Depression
What caused the Great Recession of 2008? There has been an outpouring of films, books, first person accounts, government reports, monographs, and blogs on this topic. Key films such as “Too Big to Fail,” “Margin Call,” “Inside Job,” and “House of Cards” will be discussed, as well as books, and journalistic accounts. Comparisons can be drawn with the movies such as “Modern Times” about the 1930s, and “Wall Street” about the 1980s.
The Great Depression of the 1930s introduced a period of stagnation, as well as a massive change in the role of government, and the position of the U.S. in the global economy. What are the prospects that such a transformation will reoccur? What other changes are going on in the economy in the twenty-first century? What are the implications for growth and prosperity?
Such an outpouring of literature and films on the topic is an interesting phenomenon in itself, along with the large number of scapegoats from which to choose, and multiple perspectives to consider.