Economy Blog » Gedankenexperiment: How Could This be Worse Than the Depression?

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Gedankenexperiment: How Could This be Worse Than the Depression?

Provocative piece up earlier this week over on the (excellent) FT economists’ forum. Authored by Anders Aslund of the Peterson Institute, the piece takes people to task for stubbornly insisting that the current crisis could not end up being worse the the Depression. While it very likely won’t end up being worse than the Depression, taking it as an article of faith is over-rigid thinking that helps no-one. Here are Aslund’s points with respect to where the “why it could be worse” risks lie. He is not saying it will be worse, just that the following represent some of the possible blind spots. …
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