Readers of this blog will know that from its very beginning over five years ago, I have argued, ad nauseam, that after the end of the Great Recession in mid-2009, the world capitalist economy entered what I have called a long depression, see https://thenextrecession.wordpress.com/2013/02/10/why-is-there-a-long-depression/.
What I meant by this was that the trajectory of the world real GDP growth and investment took what I described as a square-root shape. A relatively high trend growth rate was interrupted by a sharp drop, then a sharpish recovery before growth resumed but this time at a much lower level than before. Schematically, it would look like this – and in reality. full: https://thenextrecession.wordpress.com/2015/04/18/the-global-crawl-and-taking-up-the-challenge-of-prediction/ _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
