In contrast to the Depression, the Great Recession exacerbated both income and wealth inequality, say Ken-Hou Lin and Megan Neely.
COVID-19: What the Different Reaction to the Great Depression and the 2008 Recession Can Tell Us Today
Tag: Great Recession
Why FDR Matters Now More Than Ever
On the 133rd anniversary of his birth, Franklin Roosevelt remains a relevant figure for America, the president who gave meaning to the Constitution’s mandate to “provide for the general Welfare” — and who is still a target for those who made…
EU Wobbles Amid Conflicting Priorities
Exclusive: The 28-nation European Union was always a tenuous affair, pulling together historic enemies and nations with conflicting economic priorities, but now those stresses a triple-dip recession and differences over Ukraine and immigration are threatening to splinter the EU, writes…
The Neocons — Masters of Chaos
Exclusive: America’s neoconservatives, by stirring up trouble in the Middle East and Eastern Europe, are creating risks for the world’s economy that are surfacing now in the turbulent stock markets, threatening another global recession, writes Robert Parry.
Are US Banks Still ‘Too Big to Fail’?
The U.S. economy’s long slog back from the 2008 financial crisis has tried to ignore the looming question of whether a repeat is likely. Some economists think the Dodd-Frank reforms have largely ended “too big to fail” risk-taking but others…
Europe’s Generational Change
Exclusive: The persistent European recession has undermined public support for the pillars of the establishment and opened a pathway for a generational change that could reshape the face of the Continent, writes Andrés Cala.
Europe’s Not So Shiny ‘Recovery’
Exclusive: The mainstream U.S. press explains the overwhelming Crimean vote to leave Ukraine as vote-rigging or coercion, but the reality is that “European aspirations” are not so attractive to people aware of the painful life for many in the EU’s “periphery,” from Spain to…
A Fascist Revival Stirs in Spain
Exclusive: The economic pain from the Wall Street crash of 2008 and the ensuing Great Recession has fueled the right-wing Tea Party movement in the United States and a revival of fascism in parts of Europe, including hard-hit Spain where…
The Bad Math Behind Austerity
In recent years, the Republican obsession with slashing the federal budget even at a time of high unemployment rested on the intellectual foundation of a study purporting to prove that government debt strangled economic growth. But that foundation crumbled when…
Obama’s Challenge at Treasury
With Treasury Secretary Timothy Geithner planning to step down, President Obama is faced with an important appointment. Much of Official Washington wants a “deficit hawk,” but Obama and the country would be better served by someone who cares more about…