The economy has finally started to recover after a long struggle, and one Moorpark College professor took a moment to examine how we reached this point.
Mainly, how our free market may be to blame.
“The free market economy has been a little too free for the past decade,” said Economics Professor Ray Zhang.
The “End of the Era of Market Liberalization,” a presentation led by Zhang as part of Multicultural Day, detailed the recession, how the nations wealthiest have even been affected, as well as how the current administration has handled the situation.
Zhang explained how president Hoover exacerbated a depression through increased taxes that eventually led to a great depression, a move Zhang believes the Obama team has been attempting inadvertently.
He also said that even though Wall Street played a large part in creating the recession, the powers that be didn’t do much to safeguard such a scenario.
The stimulus package and its impact on the global economy was also examined, which Zhang believed would eventually lead to a prolonged global recession.
Tiffany Laszlo, a 20-year-old fashion major, enjoyed the presentation.
“It was good, it was very insightful,” said Laszlo. “I like that Zhang has his own opinions on things.”
Ending the presentation with the question on many analysts minds, Zhang asked the students whether we are experiencing the Great Depression 2.
“You think about it, I think I talked enough already,” said Zhang