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The Trouble With Markets: Saving Capitalism from Itself by Roger Bootle

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2Double Dip or Another Great Depression?

While the crash only took place six months ago, I am convinced we have now passed the worst and with continued unity of effort we shall rapidly recover. There is one certainty of the future of a people of the resources, intelligence and character of the people of the United States – that is, prosperity.

President Herbert Hoover, May 19301

The financial crisis that began in 2007 led to a global downturn of extreme proportions. The world economy experienced its weakest growth for 60 years. Europe was as badly affected as the US, if not worse. Japan returned to a state of deflationary recession; China experienced a very sharp slowdown in growth; some Asian countries went through a massive contraction in GDP; ...

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