The Hierarchy of Macroeconomic Disasters
Brad DeLong rethinks his description of the economic downturn:
my conclusion is that I should stop calling the current episode the Lesser Depression. Yes, its shape is different from that of the Great Depression; but, so far at least, there is no reason to rank it any lower in the hierarchy of macroeconomic disasters.
More here.
Posted by Mark Thoma on Thursday, March 28, 2013 at 11:46 AM in Economics |
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