Did the recession ever really go away?

posted by
June 6, 2011
Ludwig von Mises Institute
by Jeffrey A. Tucker  
Posted in Commentary

"Housing prices hitting 2002 levels, unemployment still at 9 percent, private-sector job growth flat, and retail sales still struggling: these are headlines that few expected three years ago. The prevailing theory in Washington was that the recession was somehow precipitated (and therefore vaguely caused) by the crash in housing prices, and many big and small tricks were used to goose the market. But the price system has once again proven to be the greatest and most persistent practitioner of civil disobedience on the planet." (06/03/11)


Our Sponsors