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Are We Already In A Depression? How Is That Different Than A Recession? Economic Narratives

07 Oct 2019

What is a depression? and have we already entered a depression in the united states? is the focus of this video. First we examine the subdued GDP growth and the fact that we see deflationary prices is a major concern when we examine whether we are in a depression. Also typical of a depression stagnate wages are not keeping pace with cost of living. We also see the economy has struggled to produce even inflation. We see Robert Shiller's new book about economic narratives and how they drive our economy focused on some of these issues. And how economic narratives influence the economy by changing consumer behavior.

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