|Author (Person)||Rossi, Vanessa|
|Series Details||Vol.46, No.6, November-December 2011, p300-326|
|Publication Date||November 2011|
|Content Type||Journal | Series | Blog|
In 1937, in the midst of the US recovery from the Great Depression, President Roosevelt implemented spending cuts in pursuit of a balanced budget. Subsequently, the unemployment rate jumped nearly 6% over the next year and the US economy re-entered a major recession. In the midst of the current global recovery from the Great Recession, European and American policymakers again seem intent on pursuing the path of budget austerity. In light of slowing economic growth rates, shrinking consumer and business confidence, and stubbornly high unemployment figures, could it be that Western economies are ignoring lessons from the past?
A series of features:
+ Vanessa Rossi: Global Growth and Volatility – Turbulence Is the New Normal
|Countries / Regions||Europe|