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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You have an outstanding blog, thank you very much for your great work here.
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