primarily in Africa, Latin America, the Pacific islands, and Asia, have borne the brunt of the COVID-19 pandemic, experiencing substantial declines in output relative to pre-pandemic projections and facing challenges in recovery.
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misrepresents Hawtrey as saying that the problem was pessimism not contractionary monetary policy; Hawtrey actually attributed the weakening of the recovery to “an all-round increase of costs” following enactment of the National Industrial Recovery Act, that dissipated “expectations of profit on which...
The only reason I’m not crying in the grocery checkout line, which happened often during the summer of recovery years is that well, the boys are out. And the blog by and large funds. And indie pays better than trad. And– Money is still tight for everyone right now, even those ...
To me, it sounds like you are saying that you keep AD and AS unchanged, and just change what you put on the axis. Maybe you would be better served by never talking again about how rapid inflation during Depression resulted in rapid recovery of output. Maybe you have a bad habit of ...
Hawtrey’s argument was purely theoretical, but he believed it at least possible that the weak recovery from the Great Depression in the 1930s, even after abandonment of the gold standard and the widespread shift to easy money, had been dampened by entrepreneurial pessimism. Hetzel also quotes ...
The focus of Hugh’s piece is Finland. He points to the very weak recovery, and suggests that structural factors are involved. Perhaps so, but some of the data he cites point in exactly the opposite direction. Finnish unemployment has been rising, and at 9.2% is at the highest rate in ...
not business investment. The steady stream of nonsensical labels to the USEconomy are comical. The Macro Economy ten years ago fizzled. The Asset Economy six years ago fizzled. The bylines of a Jobless Recovery offer insult to one's intelligence. Nothing could be further from the truth, ...
Since much commodity demand is inelastic, this could drive up the trade deficit and prices simultaneously, and the perception is that this would kill any recovery (of course, this is somewhat short sighted – it really depends on whether driving up commodity prices helps with jobs, asset values...