revise

I think the primary cause of the Great Depression in the United States is lack of enough government control on the market. Since the government failed to guide the production and marketing of businesses, the supply and the demand were not well balanced in the United States so that the potential threats had existed in the market long before. Secondly, wealth gap between the rich and the poor was widening（Long, 2016）(Is this citation really mention the information I wrote? If not, change it) because the government posed little control of the market. (??? Is that truth?)Since fake prosperity filled the market, the American economy collapsed at last. From banking industry to automobile industry, employees lost their jobs.

It took a long time for the US to recover from the Great Depression. The government recognized its errors in managing the market and began to exert effective control of the market and hence Roosevelt’s new deal was implemented to stimulate the economy (Romer, 1992).(explain more about new deal and change citation. Most Important in this paragraph!!!) First, the banking industry was asked to reorganize themselves and those banks which did not operate well were asked to go bankruptcy. (not true)Then FDIC is also set up to protect the savings. Moreover, the government also implemented some public projects so that more people would be hired. (Explain more about public project. Second important in this paragraph ) Through these measures, the US gradually recovered from the depression.

As for the second question, there are some differences between the Great Depression and the 2008 Recession. Firstly, the causes of the two economic crisis are different. The 2008 Recession was mainly caused by the subprime mortgage crisis (Beckworth, 2012). (Is this citation really mention the information I wrote? If not, change it) There were too many financial bubbles in the subprime mortgage market. Hence, the risks in the financial industry quickly spread to other industries and affected the world. The Great Depression was mostly caused by the lack of enough government control. At that time, the government firmly believed that a free market is beneficial to the economy and politicians overlooked the significance of interfering with the market probably. Secondly, the scope of the two economic crisis also differ a lot. While the Great Depression mostly harmed the economy of the US, the 2008 financial crisis weakened the global economy. (Is true?? )Thus, it was more difficult to recover from the 2008 financial crisis than the Great Depression. Cross-country cooperation was more urgently needed.

To summarize, the Great Depression is different from the 2008 financial crisis in many aspects such as causes and scope. People can better prevent from the negative influence of these economic crisis after knowing about the reasons and the differences. (change the conclusion, mention the cause of great depression)

Revise

1. Read the whole essay and edit Grammar.

2. Check all the references and citations because they are not include the information I wrote. It just ramdomly find some references and put on.

3. This essay has lots of unsubstantiated claims, those informations are not true, please read the whole essay and find them.

4. I use different color to mark some error, revise them all.

References

Bagliano, F. C., & Morana, C. (2012). The Great Recession: US dynamics and spillovers to the world economy. Journal of Banking & Finance, 36(1), 1-13.

Beckworth, D. M. (Ed.). (2012). Boom and bust banking: The causes and cures of the great recession. Independent Institute.