Thursday, May 14, 2009
Is the Financial Crisis More Like the 90s, 70s, 30s, 1349 or 1294?
Forget Japan's "lost decade" of the 1990s.
Forget the 1970s.
Forget the Great Depression.
Finance professors Adrian Bell and Chris Brooks have just written a paper arguing that the current financial crisis is like the credit crunch of 1294.
Personally, as I've previously written, I think the current crisis is more like the great crash of 1349, which was apparently many times worse than the Great Depression (and see this).
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