Why comparing this to the Great Depression is nonsense

Much has been said in the media comparing the current economic situation to the Great Depression of the 1930’s. The Chinese have an expression “you can never step in the same river twice” meaning that the river is always changing. The same is true in a man made world and so we have looked at today’s ‘river of change’ and concluded that so many things have changed that it is impossible to compare today’s economic challenges with the past.

Some examples:

•The vast expansion of technology in all areas of commerce, science and communications
•Instant global telecom including the Internet
•Manufacturing shift; In 1930, 6 of 10 Canadians worked in agriculture
•Rise of the global marketplace; India, China; both were non existent in economic terms in 1930
•Social security networks now provide almost universal hardship support in all leading nations
•Wealth distribution; the dramatic increase in the middle class and massive wealth transference from a generation at end of life to their 55 year old children
•Longevity (average in North American men is now 77, prewar it was under 60)
•Active roles of women and minorities; women in particular did not become active in the workforce until WW II
•Double incomes, dramatically raising household income
•Low birth rates in steady decline from the 1970’s with widespread use of the pill
•Universal health care in every leading nation except the US
•National/international mobility allowing the flow of labour from areas of oversupply of workers to areas in need.