the stock market crash old vs. new?
What were some examples of the clash of old vs new in the stock market crash that led to the great depression?
- Mukesch KaleyLv 79 years agoFavorite Answer
In old , the crash came unexpectedly and even banks closed business for half a week. That's because, no one expected that excess production will bring in depression....It was the first time classical economics failed. new deal saw us out of that.
In new, it was expected all along because everyone knew that we are gambling in derivatives and the bubble will bust. Nothing unusual and nothing to hold on to, when everything is sinking.