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Hall of Mirrors: The Great Depression, the Great Recession, and the Uses - and Misuses - of History

By Barry Eichengreen

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The two great financial crises of the past century are the Great Depression of the 1930s and the Great Recession, which began in 2008. Both occurred against the backdrop of sharp credit booms, dubious banking practices, and a fragile and unstable global financial system. When markets went into cardiac arrest in 2008, policymakers invoked the lessons of the Great Depression

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