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The Great Depression

The purpose of the paper is to be able to discuss and explore the drawing of the parallels between the volatility and stabilization of commodity markets during the Great Depression to those of the current recession. The paper presented its discussion vis-a-vis facts and figures, as well as inputs from professionals who are knowledgeable in the topic at hand for so that a cohesive flow of thought and qualified and competent analysis guides the reader through the topic and issues effectively. The paper discussed the volatility of the commodity market, why it is volatile and what makes it volatile (i. e.changes in price, changes in the consumer attitude towards product consumption).

Commodity markets and stabilization was also discussed, including the efforts to stabilize the commodity market during the Great Depression and during the recent recession and the analysis on what happened and why it happened. There are ideas that tried to explain why the Great Depression happened and why the recession was now felt in the country and in the world despite the fact that the world should have learned its lesson by now after the Great Depression, and how this situation affected and still affects commodity market and its important characteristics.

The paper has discussed how several socio economic aspects move about during recession and depression and how it is affecting commodity market and how in turn commodity market affects socio economic and financial developments when it acts as factor and contributing cause. Many writers, economic theorists, analysts and socio-economic professionals believe that the recession that the United States and the rest of the world have experienced is something that is closely tied with the Great Depression.

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Some wrote about how the two are similar, pointing some characteristics, like how during the Great Depression commodity market items and goods displayed volatility in price, as well as in availability and production and how in similar fashion, the recent recession known also as the global financial crisis, resulted to the reduction of the value of the commodities in the market locally or internationally traded; while others wrote about how the current recession can lead to the Great Depression.

Others wrote about the characteristics of the recent recession and how these characteristics are previously untouched landmarks since the era of Great Depression, experienced only now after many years. All of these observations and ideas about the Great Depression and the recent recession point to one thing: that the two socio economic events are similar and share several different important characteristics.

One of these similar characteristics is the role that commodity market has on both events – the commodity market as both the source and victim (directly and indirectly) of the Great Depression and the current recession and how these two events establishes the parallelisms in the volatility and stability of the commodity market while inside the Great Depression and the recent recession.

References

Abrahams, C. and Zhang, M, (2009).Credit Risk Assessment: The New Lending System for Borrowers, Lenders, and Investors. John Wiley and Sons. Department of Economic and Social Affairs. (2009). World Economic Situation and Prospects 2009. United Nations Publications. Edforth, R. (2000). The New Deal: America’s response to the Great Depression. Wiley Blackwell. Eichengreen, B. J. (1996). Golden Fetters: The Gold Standard and the Great Depression, 1919-1939. Oxford University Press.

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