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Saturday, October 8, 2011

History of the 2008 Lesser Depression

This is an excellent history by Ezra Klein that explains what happened and the political struggles that shaped the outcome:  Could this time have been different?
Many commentators have critiqued Klein's article.  Krugman says Klein was not hard enough on Obama in a very I-told-you-so way that would be really annoying except that he really has been telling the same critique for a long time. He would never make it as a politician.  

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