Saturday, October 17, 2009

View From Inside the Great Depression

Talking Business - Benjamin Roth’s View From Inside the Great Depression -

This is a very interesting piece by Joe Nocera in today's NYT. I think I'll buy the book.

Here are some pictures to go with the article. They show the decline and then rise circa 1937-38 of unemployment and the rebound of the stock market followed by a second large fall. Nocera has a nice discussion of the policy issues behind that increase of unemployment then and the implications for the current recovery.

And compare with now: (click on graph for full size)

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