Abstract:During the Global Financial Crisis of 2009, many commentators drew parallels with the Great Depression of the 1930s. While the suffering of those Australians affected by the recent economic turmoil cannot be dismissed, the impact of the Global Financial Crisis on the nation as a whole was modest compared with that of the Great Depression. The levels of unemployment that were reached during the Depression, and the ensuing poverty and social turmoil, would be unlikely to occur today on the same scale due to welf… Show more
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