Why Financial Crises Keep Coming Back
In September 2008, a Federal Reserve chairman with a doctorate in the Great Depression watched a crisis unfold that resembled, in eerie detail, the one he had spent…
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What Separates a Recession From a Depression
In the spring of 1930, the United States was already several months into what officials at the time called a “recession.” Business leaders assured the public that the…
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Why the Industrial Revolution Began in Britain
By the middle of the eighteenth century, a farmer in the English county of Shropshire could walk past a furnace burning coal instead of wood, watch a canal…
