What is an Economic Crisis?

goes undisputed – from newsrooms to academia to the world’s living rooms – that there has recently been a major global economic crisis. In fact, according to some, the economic crisis is not even finished; for others we are suffering from its after-effects; among still others – with startling Panglossian assurance – the whole thing has been one great opportunity. Despite the apparent consensus, however, it remains difficult to pin down what exactly an economic crisis is.

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