Apr 29, 2020
A depression differs from a recession in both the severity of the downturn and the duration. Recessions typically last months; the Great Depression lasted a decade. Importantly, the Great Depression started as an economic phenomenon, but the current “Great Suppression” started as a policy phenomenon. State governments deliberately shut down an otherwise vibrant economy. As we prepare to restart our economic engine, we consider things the government did right and did wrong in attempting to restart the economy during the Great Depression.
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Quick Hits
Disincentives of Unemployment Benefits
Forgivable Loan Backfire
Smokers Less Likely to Get COVID?
https://news.yahoo.com/smokers-four-times-less-likely-151203823.html
Foolishness of the Week
Parents are Authoritarians
https://nypost.com/2020/04/23/harvard-professor-wants-to-ban-authoritarian-homeschooling/
Topic of the Week
Harold L. Cole
https://economics.sas.upenn.edu/people/harold-l-cole
History of the Great Depression
https://fee.org/media/37305/deppod.pdf
The Path to Growth Documentary
https://www.youtube.com/watch?v=2Hd_j9OX43g
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