Narayana Kocherlakota, Columnist

The Neglected Lessons of a Lost Decade

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

August 2, 2017 at 11:00 AM UTC

Narayana Kocherlakota is a Bloomberg Opinion columnist. He is a professor of economics at the University of Rochester and was president of the Federal Reserve Bank of Minneapolis from 2009 to 2015.

An early casualty.
Photographer: Chris Hondros/Getty Images

Provide news feedback or report an error

Site feedback:

Take our Survey

This article is for subscribers only.

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: