Feeling Depressed?
Barry Eichengreen and Kevin O’Rourke looks at the present situation compared with the post-1929 crisis:
To summarize: the world is currently undergoing an economic shock every bit as big as the Great Depression shock of 1929-30. Looking just at the US leads one to overlook how alarming the current situation is even in comparison with 1929-30.
The good news, of course, is that the policy response is very different. The question now is whether that policy response will work.
The response of Danish voters? In short: Let’s repeat the mistakes of the 1930s.
There are explanations for this self-defeating position, but it still means that politicians have a big task ahead of them if they don’t want to wreck the global economy.
Denmark before the Election...
The Long Parliament...
His Master’s Voice and the Silent Lady...
Public Expenditure Growth...
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