Saturday, May 2, 2009

Economic View: Depression Scares Are Hardly New

Robert Shiller in The New York Times:

What is the chance that the current downturn will morph into another Great Depression? That question has been preoccupying people for months.

The popular mood has a huge impact on the economy, so it’s worth noting what many people seem to forget: Depression scares come and go. And by one authoritative measure, the current outbreak of concern has been surprisingly mild.

Read the full commentary

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