UNDERWATER RECESSION.

Authors :: Buchanan, Joy A.
Gjerstad, Steven
Smith, Vernon L.
Source :: American Interest. May/Jun2012, Vol. 7 Issue 5, p20-28. 9p. 1 Color Photograph, 4 Graphs.
Publication Year :: 2012
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.