Monday, September 20, 2010

The Recession is Officially Over...

...since June 2009.

The NBER annouced it on Sept 20 2010. Lasting 18 months it was the longest post war recession. With an official end to this recession a new slowdown will be viewed as a separate cycle.

Here is the link to all business cycles dates.

Tuesday, September 14, 2010

An Interesting Question

Prof De Long plays with some numbers and asks a very interesting question:
"Thus the key question in understanding the economies of long-long ago. Were they people with
motivations like us living in economies that worked more-or-less as ours does, and was the glacial pace of growth and the Malthusian structure the result of the disabilities they labored under? Or was there something very different—and from our perspective very wrong—with the stuff of the economic mechanism itself?"