1. UNDERWATER RECESSION.
- Author
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Buchanan, Joy A., Gjerstad, Steven, and Smith, Vernon L.
- Subjects
- *
RECESSIONS , *HOUSING , *GROSS domestic product , *EXPORTS , *GOVERNMENT revenue - Abstract
The article explains the factors that have contributed to the U.S. Great recession and how housing has something to do the slow recovery from it. A diagram showing percentage changes to Gross Domestic Product and its major components from 1978 to 1983 is presented. The author believes that there is a need to increase export-led revenue to counter the decline in fixed investment which has been the case for the growth and recovery in Finland, Thailand and Iceland.
- Published
- 2012