Charts and Graphs That Will Finally Make It Clear
Economists Barry Eichengreen and Kevin H. O’Rourke have updated their series of charts making the case that "today's crisis is at least as bad as the Great Depression." For my money, this is the most persuasive chart:
The one caveat here is that the Great Depression might not have been remembered as the Great Depression if it had lasted for only a year or so. The key was that the downturn was extremely long. Four years or more. And even Eichengreen and O'Rourke hold out hope that our policy response has been an improvement over Herbert Hoover's, and thus normalcy might return a bit more quickly.
June 5, 2009; 5:06 PM ET
Categories: Charts and Graphs , Financial Crisis
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Posted by: mahar1 | June 5, 2009 6:53 PM | Report abuse
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