Mark Moncrieff discusses the depressions of the 1890’s and the 1930’s to draw lessons for what may be in store for us in the wake of the worldwide coronavirus lockdown.
The causal factor which all recessions and depressions have in common is too much debt.
The world economy recovered quickly from the depression of the 1890’s because governments did not intervene in the economy, while the Great Depression of the 1930’s was exacerbated precisely because of government intervention.
One positive pattern to emerge is that depressions tend to kill off feminism very quickly.
Mark Moncrieff writes at Upon Hope. You can find his Subscribestar here.
