THE RISK OF ECONOMIC CRISIS

As I note in the introductory chapter to this volume, the danger of a financial and economic crisis is more prominent in the thinking of policy officials and business leaders than in the research of professional economists. But although the United States has been fortunate in recent decades not to experience the kind of massive economic collapse that occurred from time to time until the worldwide depression of the 1930s, there is no doubt that the possibility of another such financial and economic crisis cannot be dismissed.

 

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Autor: Martin Feldstein