Skip to content
Subscriber Only
Narayana Kocherlakota

The Neglected Lessons of a Lost Decade

In some ways, the financial crisis was worse than the Great Depression.
An early casualty.

An early casualty.

Photographer: Chris Hondros/Getty Images

Ten years on, it's possible to say that -- in some ways -- the financial crisis of 2007 to 2009 did more economic damage than the Great Depression of the 1930s. Yet the response of our elected officials still leaves much to be desired.

Consider a few data points: