Economic View – What if a Recovery Is All in Your Head? – NYTimes.com

On crowd psychology, mass behavior and self-fulfilling prophesies:  We are still using that 1930s pattern of thinking. We are instinctively fearful of reckless talk about depressions, and we try to support one another’s confidence. We like the idea that modern scientific economics seems to show that all recessions end in due course.

via Economic View – What if a Recovery Is All in Your Head? – NYTimes.com.

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