June 02, 2011
Great Depression GDP
“How long will this last,” was the question posed to me. Recessions can last a long time, especially when caused by supply-side monetary “bubbles” rather than normal production ebbs and flows. How long? Check the graph for GDP during the Great Depression, and you’ll see just how long it can last, and why recovery can be interrupted (1937-38) by double-dips.
