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Why all those Great Depression analogies are wrong. - By Daniel Gross - Slate Magazine
slate.com - 11/22/2008
Why all those Great Depression analogies are wrong. - By Daniel Gross - Slate Magazine
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It's difficult to avoid the comparisons between the current sad state of financial affairs and the Great Depression. "This is not like 1987 or 1998 or 2001," Merrill Lynch CEO John Thain said at a conference on Nov. 11. "We will in fact look back to the 1929 period to see the kind of slowdown we ...
Was the Great Depression a monetary phenomenon?
krugman.blogs.nytimes.com - 11/29/2008
Was the Great Depression a monetary phenomenon?
— krugman.blogs.nytimes.com — Sins of omission? Has anyone else noticed that the current crisis sheds light on one of the... great controversies of economic history? A central theme of Keynes's General Theory was the impotence of monetary policy in depression-type conditions. But ... (more) Was the Great Depression a monetary phenomenon?

Comments vote down Economist's View found this 11/29/2008found this
online.wsj.com - 11/29/2008
The Krugman Recipe for Depression
— online.wsj.com — Paul Krugman of the New York Times has been on the attack lately in regard to the... New Deal. His new book "The Return of Depression Economics," emphasizes the importance of New Deal-style spending. He has said the trouble with the New Deal was that it ... (more) The Krugman Recipe for Depression

Comments vote down QandO found this 11/29/2008found this
Depression 2009: What would it look like?
boston.com - 11/17/2008
Depression 2009: What would it look like?
— boston.com — OVER THE PAST few months, Americans have been hearing the word "depression" with unfamiliar and alarming regularity.... The financial crisis tearing through Wall Street is routinely described as the worst since the Great Depression, and the recession ... (more) Depression 2009: What would it look like?

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Blog Reactions

Lawrance G. Lux:  Revisionist Theory

Paul Krugman:  Depression analogies

Economist's View:  links for 2008-11-23

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Revisionist Theory
Lawrance G. Lux — Daniel Gross highlights the fallacy of comparing the current Crisis to the Great Depression. Right or Wrong, his comparisons all end up viewing the alternate Conditions of the two Periods, rather than the root causation of the Two. He makes a powerful argument, but also a hollow thesis. We have instituted massive programs to cancel the Results of adverse Conditions, but is there an substantial improvement in the actual curative treatment of the Economy? We are close to Eighty years away from the impulses inciting the Great Depression, and still not sure what impelled ...

Depression analogies
Paul Krugman — Daniel Gross pushes back against analogies with the Great Depression: Instead of workers with 5 o’clock shadows asking, “Brother, can you spare a dime?” we have clean-shaven financial-services executives asking congressmen if they can spare $100 billion. But I think he misses the point. The reason we’re making analogies with the Great Depression — and the reason I’ve come out with a new edition of ...

links for 2008-11-23
Economist's View — WaPo: Regulatory Failure at the Office of Thrift Supervision - Calculated Risk Kohn on Excess Reserves & the 2003 Deflation Scare - David Beckworth Why all those Great Depression analogies are wrong - Daniel Gross Why Great Depression analogies are not wrong - Paul Krugman The Citigroup Betting Pool - The Baseline Scenario The Price of Our Good Name - NYTimes.com How Obama is Already Taking Charge - Robert Reich ...

Monday morning links
The Mess That Greenspan Made — ... Short Positions Still Low For Gold, Silver - Resource Investor Deflation, Monetary Velocity, and Why Gold's a Buy - Seeking Alpha The Cornerstone of Capitalism - Hussman Funds ECONOMY Schumer: $500 billion to $700 billion stimulus - AP FDR saved capitalism – now it's Obama's turn - CSM More customers resume using old-fashioned cash - SF Gate Monster in Closet Is Recession, Not Deflation - Bloomberg Don't Get Depressed, It's Not 1929 - Slate INTERNATIONAL UAE ...

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Depression analogies
krugman.blogs.nytimes.com 11/23/2008 — Zero bound worries Daniel Gross pushes back against analogies with the Great Depression: Instead of workers with 5 o'clock shadows asking, "Brother, can you spare a dime?" we have clean-shaven financial-services executives asking congressmen if they ...
Analogies to The Great Depression are Misplaced
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foreignpolicy.com 3/30/2009 — 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 ...
Five Myths About the Great Depression
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My Senior Seminar on the Great Depression
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Daniel Gross: Don't Get Depressed, It's Not 1929 | Newsweek Voices - Daniel Gross
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