Why The Difference Between 'Recession' & 'Depression' Is Key To Recovery
The New Republic:
There are, indeed, obvious differences between the current downturn and the Great Depression. The unemployment rate, for one thing, was much higher in the Great Depression. But for the purpose of deciding what to do next, the term "Great Recession" is deeply misleading, and has led to a continued underestimation of the challenges facing the United States and the world.