The government says we’ve been in a recession for the past year. Experts say it’ll be at least another year before it’s over. And everybody says it’s the worst economic downturn since the Great Depression.
Nice sound bite. What does that mean?
Who knows? We can be sure that this downturn will differ totally from the Depression, and also different from the many recessions we’ve suffered every decade or every other decade since the ’30s. I’m not an economist or a historian, but it seems to me that this recession will be something unprecedented.
One reason is that that there was no Internet or mobile technology in the 1930s. That means individual people and companies have very low-cost, high-efficiency alternatives for doing a wide range of activities. That will accelerate the demise of those things fated to be replaced anyway.
Here are 10 things that I believe won
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