Re:The Cost of Kidding Yourself
by djoldman on Wednesday November 28, 2012 @11:02PM
(#4846201)
The US has been in recession 9 of the last 10 years.
This is not true as recession is defined by the NBER. If the author means to imply that we should change our definition of recession: I don't believe he produces a convincing argument that (US GDP) / (World GDP) is more indicative of a protracted economic slump than our current definition. When this ratio is declining for a particular nation, it simply means that the worlds economy is becoming relatively larger.
This is not true as recession is defined by the NBER. If the author means to imply that we should change our definition of recession: I don't believe he produces a convincing argument that (US GDP) / (World GDP) is more indicative of a protracted economic slump than our current definition. When this ratio is declining for a particular nation, it simply means that the worlds economy is becoming relatively larger.