Episode 168: Not Your Great-Grandfather's Depression

Words & Numbers

English - April 29, 2020 14:00 - 35 minutes - 49.1 MB - ★★★★★ - 336 ratings
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Previous Episode: Episode 167: Viewing the World Through Panic-Tinted Glasses

Next Episode: Episode 169: John Stossel Joins Words and Numbers Pt. 1

A depression differs from a recession in both the severity of the downturn and the duration. Recessions typically last months; the Great Depression lasted a decade. Importantly, the Great Depression started as an economic phenomenon, but the current “Great Suppression” started as a policy phenomenon. State governments deliberately shut down an otherwise vibrant economy. As we prepare to restart our economic engine, we consider things the government did right and did wrong in attempting to restart the economy during the Great Depression.

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Quick Hits

Disincentives of Unemployment Benefits

https://www.npr.org/2020/04/21/838879361/bitter-taste-for-coffee-shop-owner-as-new-600-jobless-benefit-closed-her-busines

Forgivable Loan Backfire

https://www.cnbc.com/2020/04/22/she-got-a-paycheck-protection-loan-her-employees-hate-her-for-it.html

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