This Recovery Has Fallen Behind The Recovery After The Great Depression
The not-so-great expansion.
Lackluster industrial output.
Photographer: Tomohiro Ohsumi/BloombergThis article is for subscribers only.
In April 2009 Economists Barry Eichengreen and Kevin O'Rourke first compared the collapse in industrial output following the start of the 2008 "Great Recession" to the one that followed the Great Depression beginning in 1929.
At the time, the declines were running at a similar pace, sparking warnings that the world was headed into another great depression.