Saturday, November 30, 2013

Why This Recession Is Called The Great Recession

Mark Thoma posted two charts from the Dallas Fed which illustrate how the US economy recovered from other recessions in comparison with the Great Recession.  Our current recovery, after 5.7 years looks nothing like our recoveries from previous recessions.  This one has been really different in many ways.  Industrial production has hardly moved over this period and the other factors are related to weak industrial production.  I guess this is what a post-industrial society looks like.

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