The Great Depression versus the Great RecessionName:Instructor:The Great Depression and the recent recession both led to massive job losses and rise in the unemployment rates, whereby the government and businesses prolonged their effects. The Great Depression was devastating to the economy of USA in the 1920`s and 1930`s as the US government led to the increase in the gold reserve ratio. This intervention initially caused contraction, but when the government later lowered the ratio other nation kept raising. America was the initiator of the changes in gold reserve ratio but they could not control the impact of her policy. In essence, financial deregulation led to the financial crisis as banks and investors participated in excessive risk taking.The recent recession of 2008, is a sce...