>Has anyone stopped to think that business cycles are normal and that we should just let them play out, because downturns clear out the excesses of the boom portion of the business cycles?
*Emerges from lurking for some quick snark*. Yes, we call them the policymakers of the 18,19th, and early 20 centuries...
en.wikipedia.org
(Non-US events deleted)
18th century[ edit]
- Panic of 1792 New York
- Panic of 1796–1797, Britain and United States
19th century[ edit]
- Panic of 1819, a U.S. recession with bank failures; culmination of U.S.'s first boom-to-bust economic cycle
- Panic of 1837, a U.S. recession with bank failures, followed by a 5-year depression
- Panic of 1857, a U.S. recession with bank failures
- Panic of 1873, a U.S. recession with bank failures, followed by a 4-year depression
- Panic of 1884, United States and Europe
- Panic of 1893, a U.S. recession with bank failures
- Panic of 1896, acute U.S. recession
20th century[ edit]
- Panic of 1901, a U.S. economic recession that started a fight for financial control of the Northern Pacific Railway
- Panic of 1907, a U.S. economic recession with bank failures
- Great Depression, the worst systemic banking crisis of the 20th century
*Crickets for half a century*
then... oh, huh?
https://en.wikipedia.org/wiki/Austrian_School
Although the Austrian School has been considered heterodox since the late 1930s, it began to attract renewed academic and public interest starting in the 1970s
And back to:
- Savings and loan crisis of the 1980s and 1990s in the U.S.
-1998 collapse of Long-Term Capital Management
21st century[ edit]
- Late-2000s financial crisis, including: Subprime mortgage crisis in the U.S. starting in 2007
-Z |
