Financial Crisis: 1929 v 2008

Here is a video from The Economist which uses the research of Ken Rogoff and Carmen Reinhart authors of “This Time is Different”. They have produced a ‘severity index’ which shows the % change in real GDP per person and the number of years it will take to regain pre-crisis levels of output. America score 38.6 for the 1930’s Great Depression compared to 11 for the 2008 GFC. Greece and Ireland were the worst affected countries by the GFC using this index.

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