Got the link to this clip from Geoff Riley at Tutor2u. Paul Mason, Economics Editor of the BBC 2 ‘Newsnight’ programme looks at the similarities between the Depression of the 1930’s and the current economic crisis. The sailient features he talks about are:
1. Credit-fueled bubbles.
2. Government interventionist policies.
3. Wall Street the epicentre of the financial contraction
4. Cross border banking crisis
5. Social unrest
6. Countries reneging on their debts
7. Breakdown of an international currency system.