GREAT DEPRESSION vs. THE CURRENT FINANCIAL AND ECONOMIC CRISIS

Abstract

The scientific approach of this research requires, necessarily, evaluating the past by discussing the influence on the future, but also the cyclical developments which in turn can confirm trends or can cause sudden inflections - essential to the global economy. The adverse incidence of the financial market crisis and the analysis of the overall impact of these adverse events represented and still represent a subject of interest for researchers in economics, sociology, history, and the sciences. Analyzing crisis, particularly financial crisis, the factors generating and applying patterns to return to normal is a consistent and timely concern of researchers in economics. After emergence in mid-2007, which I will call the Great Recession, due to the effects felt by the world economy, as was the case with the Great Depression of 1930-1933, an interesting approach is to "confront" these two negative episodes. Thus, this paper proposes a comparative approach on how the Romanian economy faced during the Great Depression of 1930-1933 but also after the onset of the Great Depression in 2008.