The Great Recession

About this sample

About this sample


Words: 407 |

Page: 1|

3 min read

Published: Jan 4, 2019

Words: 407|Page: 1|3 min read

Published: Jan 4, 2019

The Great Recession was a duration of general economic decline observed in world markets during the late 2000s and early 2010s. The extent of the recession and timing of the recession mixed from country to country. In terms of overall impact, the International Monetary Fund found that it was the worst global recession since the 1930s (during the Great Depression). The causes of the recession largely came from the United States, particularly related to the real-estate market, despite choices of other nations contributing as well. According to the United States National Bureau of Economic Research, the recession, in the united states, began in December 2007 and ended in June 2009, lasting over 19 months. The Great Recession was relevant to the financial crisis of 2007 - 2008 and United States. The Great Recession resulted in the rarity of valuable assets in the market economy and the collapse of the financial sector, such as banks, in the world economy. The banks were then bailed out and rescued by government.

'Why Violent Video Games Shouldn't Be Banned'?

The recession was not felt evenly around the world. Whereas most of the world’s developed economies, particularly in North America and Europe. They fell into a definitive recession, many of the newer developed economies suffered far less impact, particularly China and India whose economies grew substantially during this period.

The great recession also refers to the economic plunge between 2008 and 2013. The recession began after the 2007- 2008 global credit crunch and led to a lengthened period of low/negative growth and rising unemployment. In particular, the great recession displayed problems inside the Eurozone which experienced a double dip recession and high unemployment.

Get a custom paper now from our expert writers.

The great recession was the worst post World War two contraction on record. Gross Domestic Product began to contract in the third quarter of 2008, and by early 2009 was falling at an annualised speed which has not been seen since the 1950s. Capital investment, which was declining every year since the final quarter of 2006, matched the 1957–58 post war record in the first quarter of 2009. The speed of collapse in residential investment picked up pace in the first quarter of 2009, dropping 23.2% year-on-year, nearly four percentage points faster than in the previous quarter. Furthermore, domestic demand, which was in decline for five straight quarters, was still only three months shy of the 1974 – 1975 record, but the pace – down 2.6% per quarter vs. 1.9% in the earlier period – is a record-breaker already.

Image of Prof. Linda Burke
This essay was reviewed by
Prof. Linda Burke

Cite this Essay

The Great Recession. (2019, January 03). GradesFixer. Retrieved July 15, 2024, from
“The Great Recession.” GradesFixer, 03 Jan. 2019,
The Great Recession. [online]. Available at: <> [Accessed 15 Jul. 2024].
The Great Recession [Internet]. GradesFixer. 2019 Jan 03 [cited 2024 Jul 15]. Available from:
Keep in mind: This sample was shared by another student.
  • 450+ experts on 30 subjects ready to help
  • Custom essay delivered in as few as 3 hours
Write my essay

Still can’t find what you need?

Browse our vast selection of original essay samples, each expertly formatted and styled


Where do you want us to send this sample?

    By clicking “Continue”, you agree to our terms of service and privacy policy.


    Be careful. This essay is not unique

    This essay was donated by a student and is likely to have been used and submitted before

    Download this Sample

    Free samples may contain mistakes and not unique parts


    Sorry, we could not paraphrase this essay. Our professional writers can rewrite it and get you a unique paper.



    Please check your inbox.

    We can write you a custom essay that will follow your exact instructions and meet the deadlines. Let's fix your grades together!


    Get Your
    Personalized Essay in 3 Hours or Less!

    We can help you get a better grade and deliver your task on time!
    • Instructions Followed To The Letter
    • Deadlines Met At Every Stage
    • Unique And Plagiarism Free
    Order your paper now