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How Bad Was It?: The Costs and Consequences of the 2007-09 Financial Crisis
How Bad Was It?: The Costs and Consequences of the 2007-09 Financial Crisis
 
Our Price: $20.00
By Tyler Atkison (au); David Luttrell (au); Harvey Rosenblum (au)
Year: 2013
Pages: 24
Binding Paperback
ISBN 978-1-4578-4902-2

Product Code: 145784902X

Description
 
The 200709 financial crisis was associated with a huge loss of economic output and financial wealth, psychological consequences and skill atrophy from extended unemployment, an increase in government intervention, and other significant costs. Assuming the financial crisis is to blame for these associated ills, an estimate of its cost is needed to weigh against the cost of policies intended to prevent similar episodes. The authors conservatively estimate that 40 to 90 percent of one year's output ($6 trillion to $14 trillion, the equivalent of $50,000 to $120,000 for every U.S. household) was foregone due to the 200709 recession. They also provide several alternative measures of lost consumption, national trauma, and other negative consequences of the worst recession since the 1930s. This more comprehensive evaluation of factors suggests that what the U.S. gave up as a result of the crisis is likely greater than the value of one year's output. Figures. This is a print on demand report.

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