Recessions Push People to Buy Cheap Things, Which Just Makes Everything Worse
Harvard Business Review
MAY 12, 2017
The next recession, which came in 2001, was short and mild (GDP barely fell), but it took four years for the job market to heal, prompting the Federal Reserve to administer the economy a long course of low interest rates. the availability of lower quality, inexpensive goods produced in developing countries has increased over time.
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