The Great Depression vs the "Great Recession"

Prices, Inflation & Deflation The Great Depression vs the "Great Recession" Although prices were lower in the 1930s, people coped with more extreme change in prices compared with today. The Great Depression 1929-1941 $0 $50 $100 $150 $200 -12% -8% -4% 0% 4% 8% 12% | $0.53 for a dozen eggs, 1929 1929 Deflation defined as a 1930 drop in the price level 1931 1932 $0.29 for a dozen eggs, 1933 Inflation defined as an Franklin Delano Roosevelt 1933 ncrease in the price level is sworn in as President, March 1933 1934 1935 1936 Price Level defined as $0.36 for dozen eggs, 1937 1937 measure of overall prices for a set of goods and services 1938 $0.32 for dozen eggs, 1939 1939 1940 1941 U. S. enters World War II The Great Recession December 2007- Present $4 $4 24 2007 %24 $4 24 24 24 24 $1.53 for a dozen eggs, 2008 2008 First 6 months 2009 Barack Obama is 24 24 24 sworn in as President, January 2009 $0 $50 $100 $150 $200 -12% -8% -4% 0% 4% 8% 12% Data Source: Bureau of Labor Statistics LVisualizing Economics Making the Invisible Hand Visible