Compare the economic policies and the social views on the American standard of living during the 1920s and the consequences that led to the Great Depression to the economic policies that led to the Great Recession.

Mainly, there was a feeling of optimism in the growth of the economy and particularly the financial economy. The stock market in the 1920s grew out of control, thanks to the growth of the economy and industry. With taxes and regulation lifted and the American Standard of living increased, the lifestyle of Americans became more market and consumption-oriented.

Similarly, after the Black Monday and the crash of the financial markets in the late 1980s, the 1990s were an optimistic time. Tech companies fed a speculative economy and the construction sector drew young men to very lucrative low-skilled jobs. Reaganomics transformed into the Dot Com bubble and, interestingly, under a Democratic government, taxes, and regulations were lifted, allowing companies like Exon, to make quick profits before collapsing and showing the cracks of the system.

Just like in the 1920s, social views and policies spurred the growth of personal debt, and the use of credits for consumption.