America s 2001 recession was one brief, mild double dip.

Economic growth plummeted from 13 in 1936 to 6 in 1937, and GDP shrank 4.5 in 1938, while unemployment rose from 14 to roughly 20 . Although fiscal policy was not the only cause of the double dip, ill timed retrenchment certainly contributed to it.

While the Great Recession has exacerbated these trends, they were apparent long before its onset.

The story goes back to the recession of 2001.

Goodhart concedes that banks risk weightings in the pre recession period were subject to political pressure and financial industry capture and manipulation.

In the US, real middle class incomes have not yet recovered to the levels attained before the last recession in 1991.

The rise was mainly caused by the return of commercial customers that had all but stopped buying in 2009 during the recession.

Robert S. Lopez has contended that it was a period of deep economic recession.

After brief initial success, the store went bankrupt during the recession of 1921.

Are we facing a long global slump, or possibly even a depression?

Together, they account for 42 of world population and one third of global economic growth in the past ten years.

Almost all developed economies have left recession far behind, and the danger of deflation has disappeared.

This pattern also characterizes the current recovery, and recent data suggest that mismatches between the demand and supply of labor by industry are back to pre recession levels.

The second option is for Greece to go through a depression, reducing its wages and prices.

If that were to happen quickly, total spending could decline, pushing the economy into a double dip recession.

Now all of these short term factors have been exhausted, and a Brezhnev like period of stagnation has begun.

Things were better long ago.

And all the lines of business that had been profitable before the downturn would become profitable once again.

BUDAPEST Across Europe, millions are suffering from unemployment and the prospect of a long period of economic stagnation.

Rudd s stimulus worked Australia had the shortest and shallowest of recessions of the advanced industrial countries.

Within the current recession, we have already had a double dip a dip at the beginning of 2008, then some growth, then another long, deep dip, then renewed growth.

Americans, on the other hand, are convinced that whatever was lost during the recent recession will eventually be regained.

For a while the policy seemed successful the 1980s, however, were more or less a period of economic stagnation.

All types coexist during the preschool years.

Whether or not the euro endures, Europe faces a long period of economic stagnation or worse.

But if the US recession is long and severe, the result could be outright recession in some countries (the United Kingdom, Spain, Ireland, Italy, and Japan), and even financial crises in vulnerable emerging market economies.

The level of real residential investment is still less than half its level before the recession began.

The interwar economic slump became intractable because it was also a crisis of social stability, democracy, and the international political order.

America had a brief, sharp recession in 1980, followed by a long and severe one in 1981 1982.

During the recession, Ukraine lost 60 of its GDP from 1991 to 1999, and suffered five digit inflation rates.

In terms of US economic history, what is abnormal is not the pace of private sector job growth since the 2008 2009 recession ended, but rather the length and depth of the recession itself.

Bush supporters rightly ask is Bush really to blame for this?

Bush supporters rightly ask is Bush really to blame for this? Wasn't the recession already beginning when he took office?

PARIS With the deepening of the economic crisis and the prospect of another recession looming large on the horizon, growing social inequality has become an increasingly urgent issue.

NEW YORK Long ago, I worked as an analyst on Wall Street.

Not this time. The record plunge in consumer demand during the Great Recession has been followed by persistently subpar consumption growth.

All three challenges are interconnected, and mistakes by any of the parties could plunge the global economy into another recession.

Even during the recession of 2001, those assembled in Davos believed that the downturn would be short lived.

One cannot simply ignore the pleas of those who are suffering. In the US, real middle class incomes have not yet recovered to the levels attained before the last recession in 1991.

As unequal as America was before the Great Recession, the crisis, and the way it has been managed, has led to even greater income inequality, making a recovery all the more difficult. America is setting itself up for its own version of a Japanese style malaise.

Moreover, this scenario cannot take place before the slump has turned into a boom.

The global recession has simply brought that problem forward a few years.

Governments before World War I and even more so before WWII did not embrace the mission of minimizing unemployment during economic downturns.

Assyria had a period of empire from the 19th to 18th centuries BC.

It was one of the most significant laws of pre war Japan.