, Columnist
The US Economy Is Replaying the 2000s, Not the 1970s
A familiar sight on the floor of the stock exchange in October 2008.
Photographer: Jeremy Bales/Bloomberg
When it comes to understanding the economy, the pull of the past is hard to ignore. Cause and consequence are difficult enough to parse in real time. How about predicting a sequence of events? Near impossible. Comparing today’s economy to that of a previous era provides context and can help us navigate current conditions.
So where are we now?