« 20081006 Economics 113 Lecture: Post-Civil War Growth, Industrialization, Wages, Profits, and Inequality | Main | Great Depression Problem Set »

October 08, 2008

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Michael Pimentel

In light of today's financial crisis, I felt that the historical perspective offered provided by today's lecture was decidedly pertinent. Moreover, with opinions of the bailout/rescue plan coming from all sides, it's interesting to see that many of today's opinions have counterparts that were in existence in 1929. A topic that I think should be discussed more fully is Karl Marx's understanding of financial crises and wage rates.

Michael Hui 20785005

It was interesting, in fact scary, to see how the financial crisis of the US stock/housing market today can be mirrored/compared with the events of the Great Depression. As an EAP student, I have little knowledge of the Great Depression, but from what I have learned today (25% unemployment!!) and just general knowledge of how bad times were during the depression it is seems to be troubling times to say the least for the American economy.

Brittany Bianchi

I enjoyed how the lectured tied into the events happening today. It was a little confusing trying to understand the impact that the financial crisis today will have on our economy. It seemed at times Delong suggested that, for the financial sector, this crisis is just as bad as it was in the great depression. However, other times it made it seem as if this were still less severe than the Great Depression. It was very interesting to hear how one of the main reasons why the Great Depression was enabled was because Mellon advised Hoover not to bail out banks. And yet, you would think people today would learn not to repeat history, but just a week ago 1/3 of the house did not vote for the Bail out plan.

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