Economic Incubator

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The Chairman

The 1937-1938 Recession

With the economy wobbling around along a slow recovery path, a lot of commentators (Paul Krugman here and here, John Taylor here and Christina Romer here) have made connections to 1937/38 – the so-called “recession within the depression.” Economic historians have written a fair amount about that recession for some time and I thought it…

March 2025
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1890s Recession 1937-1938 Recession Recovery

  • The 1937-1938 Recession

    With the economy wobbling around along a slow recovery path, a lot of commentators (Paul Krugman here and here, John Taylor here and Christina Romer here) have made connections to 1937/38 – the so-called “recession within the depression.” Economic historians have written a fair amount about that recession for some time and I thought it […]

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  • The Slow Recovery from the 1890s Recession

    As the tepid economic recovery continues, there has been a fair amount of discussion about the uniqueness of the duration of above-normal unemployment following financial crises.  Reinhart and Rogoff were clear on this in This Time is Different and in this article, where they write: “After the Fall,” a 2010 paper written by one of […]

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