3 ms·
Looking at past economic studies, there is a long run hysteresis effect after depressions and while the jobs should come back it may be on a time frame of a dec
by dv_dt 6y ago
Looking at past economic studies, there is a long run hysteresis effect after depressions and while the jobs should come back it may be on a time frame of a decade or longer.
- dougmwne 6y agoMy grandparents spending habits were permanently affected by growing up during the great depression. They talked about their frugality in the context of the depression often. It anchored their entire concept of money. My parents were deeply affected too and often talked about their own childhood and how they were taught to handle money. I feel like I was brought up with a vestige of that great depression mentality and often actively challenge myself to be less frugal. That's 90 years of long run hysteresis right there.