Delong:
[T]he reason the unemployment rate was dropping from its high of 24%... was... serious real economic growth... five of the eight years from ’33 to ’40 [saw] real GDP [grow] by more than 8% a year!...
Friday, August 27, 2010
Unemployment Falls Through Economic Growth via Okun's Law
The middle of the depression had some of the fastest growth in US history!
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