In just a matter of days the country went from coming to terms with the seriousness of the economic crisis, to Congress getting close to reaching a decision about the bail out bill. Two days ago we had, basically, Bailout 101, an hour focused on clearing up confusion about the Administration’s proposal.
We?re taking a different tack tomorrow, looking through the lens of history as a way to understand the current economic crisis.
How do our country?s financial problems fit into history? Are they comparable to the 1792 panic? Or 1929? Or 1987? What can we learn from past economic crises that might inform the debate in 2008? And in what ways does the global gobble of chopped up sub-prime mortgages leave us in uncharted territory?
- Robert E. Wright: Clinical Associate Professor in the Economics Department of New York University?s Stern School of Business
- Brad Delong: Professor of Economics at University of California Berkley, Author of the blog Grasping Reality with Both Hands