Stiglitz on the definition of a Great Depression


from an interview posted on the Guardian website, 22 April 2020:
“… people are not going to be spending on anything other than food and that’s the definition of a Great Depression”
—Joseph Stiglitz

quotation source and image credit: archived

“the definition of a Great Depression” (!g)
/ when consumers buy nothing but food, consumer capitalism cannot grow, and when it cannot grow …
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