This Recession, That Recession…

Just came across this interesting blog, News from 1930 which features news from the Wall Street Journal from each corresponding day in 1930. The idea here is that there are a lot of similarities between the current recession and that of the 30s (collapse of banking system, sharp decline in perceived wealth of individuals, decline in demand, etc.) and we can handle the current one in a better way if we have a thorough understanding of the older one. The author of the blog believes this time round, the recovery may follow the similar pattern in which things moved at that time. The blog gives interesting insights of the micro-level changes in the political front, the bureaucracy, the banking system, and how various stakeholders reacted to these changes.

For anyone interested in economics or history there is a wealth of information. For others, history is always interesting, but you may just like to read the headlines, instead of going into the details.

Source: Freakonomics Blog

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