The Visual Representation of Our Very Slow Recovery
Russ Roberts, who hosts the brilliant EconTalk, talks with John Taylor about the extremely slow recovery to our current recession and how that doesn’t match up with previous recessions. Previous recessions and recoveries have been either deep and brisk or mild and slow. This one has been deep and slow. Their discussion is well worth a listen:
Follow Swift Economics on Twitter
LIKE Swift Economics on Facebook
1 Comment
Leave a Reply
- Johannes - Bangkok Apartments commented on Lies, Damned Lies and Statistics: Iraq War Casualties
(2 weeks ago) - Andrew commented on Let's Ban Profits: Peter Schiff Has Fun with the DNC
(10 weeks ago) - JonK commented on Global Warming and the Irony of Energy Efficiency
(12 weeks ago) - Deb commented on Actually, Not Everything Alex Jones Has Said Came True
(12 weeks ago) - Deb commented on Let's Ban Profits: Peter Schiff Has Fun with the DNC
(12 weeks ago)
Not all recessions are created equal. Some recessions are mere lulls in the business cycle. Other recessions have the added pizzazz of a colossal housing bust and the terror of a world financial crisis. See Rogoff and Reinhardt’s recent paper. They find that when compared to past recoveries, this recovery has been quite nice. How so? They compare apples to apples. Conversely, your post compares apples to oranges. Like I said, and as the authors of the mentioned study explain, not all recessions are the same. We wouldn’t compare a recovery from a paper cut to a recovery from a gunshot to the face.