Global Economics: Learning the Right Lessons from History

http://www.brookings.edu/blogs/up-front/posts/2015/01/15-financial-crisis-lesson-from-history-wessel




http://youtu.be/pOx1BVl4HCQ


Full: http://youtu.be/HPwzr1ueFZM










The logic of historical analogy is “never more compelling than in a crisis,” said Barry Eichengreen, the George C. Pardee and Helen N. Pardee Professor of Economics and Political Science at the University of California, Berkeley. But choosing the right analogy is never easy. At the Hutchins Center on Fiscal and Monetary Policy at Brookings, Eichengreen contended that policymakers in both the United States and Europe could have done a better job of applying the lessons of the Great Depression in the 1930s  before and after the recent crisis, though he gave them high marks for avoiding mistakes that could have turned the crisis into another Depression.