WI: No great depression?

The only reason 2008-2009 wasn't even worse was that Governments and monetary authorities used the knowledge gained from the 1930s, and threw the kitchen sink at the crisis. Learning how to prevent (or at least mitigate) Depressions is something that took the Depression to teach.
 
The only reason 2008-2009 wasn't even worse was that Governments and monetary authorities used the knowledge gained from the 1930s, and threw the kitchen sink at the crisis. Learning how to prevent (or at least mitigate) Depressions is something that took the Depression to teach.

Why not the 1890s?
 
The only reason 2008-2009 wasn't even worse was that Governments and monetary authorities used the knowledge gained from the 1930s, and threw the kitchen sink at the crisis. Learning how to prevent (or at least mitigate) Depressions is something that took the Depression to teach.
I’m skeptical of these claims for these reasons.

1: The Great Depression was by far the worst in American and most of Europe’s history from the industrial revolution on. This makes it seem unlikely to be easily repeated in 08, or like it was unavoidable in 29. A more proactive Fed in the early stages of the Depression, along with avoiding throwing gasoline on the fire later with a trade war, tax increases, spending cuts, and price controls could seriously limit the damage and prevent unemployment from reaching anywhere near 25% even with a serious downturn, while also enabling a faster recovery.

2: Economics as a science had already existed for quite a while and would be able to continue doing research and evolve.
 
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