3 ms·
How can economists say, for instance, Argentina is in a recession? Or Ireland? Or Australia? Does the NBER make such determinations for all countries? Ha. Are
by lurquer 4y ago
How can economists say, for instance, Argentina is in a recession? Or Ireland? Or Australia?
Does the NBER make such determinations for all countries? Ha.
Are you being pedantic por are you being gullible?
The term recession has been well-defined in economics for decades.
- ls15 4y ago> The term recession has been well-defined in economics for decades. It's been so thoroughly defined, that there are even multiple conflicting definitions.
- david927 4y agoWhich is all to avoid having to admit you're in a recession to avoid the self-fulfilling prophecy aspects of that. Economists, of course, have a lot of pressure sometimes to avoid speaking the truth, lest they exacerbate the situation. I get that. Again, I'm not concerned that we're "going into a recession." I'm concerned that we're going into a depression, or decades of stagflation, or war.