Low productivity, stagnant incomes, a backlash against globalization ... sound familiar?
A financial crisis that left in its wake deflationary price pressures, low productivity, stagnant incomes, a spike in populism, a backlash against globalization: if that all sounds familiar, you may not like the following insight.
The U.S., for example, was in recession from October 1873 to March 1879, a stretch that remains the longest downturn on record, and which was followed by four more recessionary periods, for a total of 161 months, or over 13 years, in contraction during that time frame. A financial crisis kick-starting a long period of economic malaise may also sound familiar, but Perkins is more interested in other features of the depression. He notes the slump in productivity that hit Great Britain especially hard: “this is the only period in the last three hundred years with a downturn comparable to what we see today.”
The second half of the 19th century brought about a surge of globalization, Perkins noted, that was just as disruptive to people then as the one we’ve just lived through. “Industrialization plus huge advancements in transportation and communication allowed mass production and the shipping of agricultural products and cheap manufactured goods.”
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Chrissy Teigen Switched Up Her Hair With Long, Face-Framing BangsHow does she look so good in every hairstyle?
Baca lebih lajut »
Power outage at Oakland airport causes long security lines and baggage claim delaysCNN News, delivered. Select from our newsletters below and enter your email to subscribe.
Baca lebih lajut »
Trader Joe’s Holiday Cookies, and the (Long) Year in ReviewI was never able to track down some new items, and for that, I’ll forever feel incomplete. The cookies are good though.
Baca lebih lajut »
Anastasia's Liquid Lipstick Gives New Meaning to the Word 'Long-Wear'It really doesn't budge.
Baca lebih lajut »