Word: depressionitis
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After his father's death, Marroquín suffered from depression. Landing in impoverished, war-ravaged Mozambique as his family sought refuge, he contemplated suicide as he considered how far his clan had fallen. The family's troubles continued in Buenos Aires. Escobar's widow, now known as Maria Isabel...
Then a not-so-funny thing happened on the way to rebalancing: the worst economic crisis since the Great Depression. The Chinese response to sharp declines in manufacturing and exports has been cheered for its effectiveness. Government stimulus spending and loose credit powered the country's economy to an 8.9...
Policymakers have been warning about confusing economic activity with wellbeing ever since the economist Simon Kuznets devised a way to measure that activity at the end of the Great Depression. Kuznets himself warned that "the welfare of a nation can ... scarcely be inferred from a measure of national income." Seventy...
I got my rough baseline from a conversation at the height of last fall's financial panic with Barry Eichengreen, an economist at the University of California, Berkeley, who is an expert on the Great Depression. "I doubt that we'll be able to avoid double-digit unemployment," he told...
Harvard economist Jeffrey Miron has been one of the most outspoken proponents of the legalization of drugs in the U.S. as a solution to the problems in Mexico. He cites the historical analogy of the failed policy of Prohibition during the Great Depression, which was ended partly because of increasing...