Economic (market) liberalism and state interventionism are two fundamental approaches to economic policies on the operation of the market and the state in times of economic crisis. Basically, it is a matter of greater or lesser state intervention in its economy. In this paper, we will compare two approaches and present them as ways of approaching crisis resolution, specifically on the example of the Great Economic Crisis of 1929 (Great Depression). Dealing with economic crises, as well as crisis resolution approaches, is relevant for sociology in order to be able to show how societies face with economic crises, which affect most countries. Based on the experience of that crisis and the rise of Keynesianism, on the basis of that experience, the further resolution of crises was approached (70s, 2008). It will be shown how states and societies as whole react to the crisis, whether the solutions are different or certain forms of intervention are repeated. Another important thing for this paper is the assumption that economic science cannot comprehensively explain the crisis. It is also about economic, political, social, psychological and organizational causes that lead to it. The aim is to compare the approach of economics and economic sociology and to show how the crisis is situated in the social-institutional context.