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How long-run economic prospects fell sharply after the great recession

One possible story about the way the Great Shortfall followed the Great Recession is that post hoc wasn't propter hoc

Paul Krugman | NYT 

Lehman failed ten years and two weeks ago; this coming Wednesday will be the 10th anniversary of the enactment of the Troubled Asset Relief Program, aka the bailout. In honour of the anniversary, there have been approximately 1,000,000,000 pieces reflecting on the 2008 financial crisis and its effects. Many have suggested, rightly, that the political fallout continues to shape our world today. But as far as I can tell, surprisingly few have focused on the long-run economic effects. What’s odd about this relative neglect is that even a cursory look at the data suggests that ...

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First Published: Mon, October 01 2018. 08:09 IST
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