Interesting. My impression is that recessions can start many different ways but typically kick off the same self-reinforcing cycle, so that unhappy economies end up being very alike as well.
Could you expand on that “end up being very alike” thought.
My initial reaction was very much like Gordon’s and suspect the problem might be looking at aggregate level stats that will tend to hide as much of the details as it will shed any light on things.
One example: (I think, but have not hardcore verified, that) recessions tend to noticeably reduce births. This ends up being really great for the kids who were born into sufficient money, because when they mature there’s less competition for top colleges, jobs, etc.
Interesting. My impression is that recessions can start many different ways but typically kick off the same self-reinforcing cycle, so that unhappy economies end up being very alike as well.
Could you expand on that “end up being very alike” thought.
My initial reaction was very much like Gordon’s and suspect the problem might be looking at aggregate level stats that will tend to hide as much of the details as it will shed any light on things.
One example: (I think, but have not hardcore verified, that) recessions tend to noticeably reduce births. This ends up being really great for the kids who were born into sufficient money, because when they mature there’s less competition for top colleges, jobs, etc.