The Cure for Our Economy’s Stationary State
Newsweek/The Daily Beast
July 16, 2012
Commentary by: Niall Ferguson, member of the Belfer Center Board of Directors
Topic: World economy
“Jesse L. Jackson Jr. has been suffering from “a mood disorder.”
He is not alone. The world economy may not be in a depression as bad as that of the early 1930s. But it’s certainly got emotional problems.
A year ago, according to Gallup, economic confidence in the United States plunged, touching bottom in late August. It then rallied, only to start sliding again with the arrival of summer. Sunshine doesn’t seem to work like it used to.
What is going on?”