A Modern Depression

An excellent look at what a modern economic depression would look like.

We are separated from the 1930s by decades of profound economic, technological, and political change, and a modern landscape of scarcity would reflect that.

What, then, would we see instead? And how would we even know a depression had started? It’s not a topic that professional observers of the economy study much. And there’s no single answer, because there’s no one way a depression might unfold. But it’s nonetheless an important question to consider – there’s no way to make informed decisions about the present without understanding, in some detail, the worst-case scenario about the future.

via Overcoming Bias