Finally, an article complete with charts that compares the economic decline in 1929 to the situation today. After reading the information, it leaves little doubt the the current scenario in terms of industrial output decline and other factors is worse than the 1930s. It only leaves the question if the government policy reponse of massive stimulus and bailouts will actually improve the economic recovery this time around.
A Tale of Two Depressions
http://www.voxeu.org/index.php?q=node/3421
Friday, June 19, 2009
A Tale of Two Depressions
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