TY  - JOUR
AU  - Temin,Peter
TI  - The Great Recession and the Great Depression
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 15645
PY  - 2010
Y2  - January 2010
UR  - http://www.nber.org/papers/w15645
L1  - http://www.nber.org/papers/w15645.pdf
N1  - Author contact info:
Peter Temin
Department of Economics
MIT, Room E52-271A
50 Memorial Drive
Cambridge, MA  02142-1347
Tel: 617/253-3126
Fax: 617/253-1330
E-Mail: ptemin@mit.edu
AB  - This paper discusses parallels between our current recession and the Great Depression for the intelligent general public.  It stresses the role of economic models and ideas in public policy and argues that gold-standard mentality still holds sway today.  The parallels are greatest in the generation of the crises, and they also illuminate the policy choices being made today.  We have escaped a repeat of the Depression, but we appear to have lost the opportunity for significant financial reform.
ER  -