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VoxEU.org - 4/6/2009

The world economy is tracking or doing worse than during the Great Depression

— VoxEU.org — Barry Eichengreen , Kevin H. O’Rourke , 6 April 2009 Often cited comparisons – which look only... at the US – find that today’s crisis is milder than the Great Depression. In this column, two leading economic historians show that the world economy is ... (more) The world economy is tracking or doing worse than during ...

Commodities

Depression

Kevin H. O'Rourke

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5

nytimes.com - 4/10/2009

Op-Ed Columnist - Making Banking Boring

— nytimes.com — Thirty-plus years ago, when I was a graduate student in economics, only the least ambitious of my... classmates sought careers in the financial world. Even then, investment banks paid more than teaching or public service — but not that much more, and ... (more) Op-Ed Columnist - Making Banking Boring

Commodities

Universal Banking

Depression

Comments vote downundo vote up Economist's View found this 4/10/2009found this

2

foreignpolicy.com - 3/30/2009

N/A

— foreignpolicy.com — I n the Great Depression, as in the current economic crisis, the downturn was particularly severe because... of a lack of leadership in the international order. The dominant financial power of the 19th century, Britain, was financially exhausted by the ... (more) N/A

Commodities

Comments vote downundo vote up Paul Kedrosky's Infectious Greed found this 3/30/2009found this

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The Great Escape
Lawrance G. Lux — ... I find more Economists who find the current economic lead-in and events prior to the Great Depression possess a disturbing similarity. The only difference in truth comes in the degree of magnitude; if We had the rate of Unemployment as was present in the 1930s, We would still employ many more than they did in the 1920s. This could mean a much higher level of Stabilization than in the Great Depression, or it could mean only a magnification of the levels of Starvation. Just hope that We do not acquire the same level of agricultural decline as endured in the 1930s; a series of ...

Consumer debt, monetarism, and depressions
The visible hand in economics — Economist’s View links to an interesting article by Steven Gjerstand and Vernon Smith. In this article they say that the high level of consumer debt in a number of countries is a concern - and indicates the possibility of a depression style contraction. This has the ring of truth. However, they also say: The causes of the Great Depression need more study, but the claims that losses on stock-market speculation and a monetary contraction caused the decline of the banking system both seem inadequate I am not ...