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Created 10/9/1998
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The Global Financial Crisis:
Haas School "Teach-in"

by Brad DeLong

November 20, 1998

1:25 pm - MACRO PANEL DISCUSSION AND Q&A

• Faculty Chair: Dean Laura D'Andrea Tyson
• Professor Maury Obstfeld, Department of Economics
• Professor Brad DeLong, Department of Economics

Lessons from 1929 for 1999

In June 1997 the speculative leading edge of the world economy--the stock markets of the rapidly-industrializing economies of East Asia, starting with Thailand--crashed. We are now eighteen months into what many have called the worst worldwide financial crisis since the Great Depression.

In October 1929 the speculative leading edge of the world economy--the speculative high-tech edge of America's stock market--crashed. By March 1931 the world economy was nineteen months into the Great Depression.

How are we doing, now, compared to how they were doing, then?

 

Professor of Economics J. Bradford DeLong, 601 Evans
University of California at Berkeley; Berkeley, CA 94720-3880
(510) 643-4027 phone (510) 642-6615 fax
delong@econ.berkeley.edu
http://www.j-bradford-delong.net/

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