Tip of the hat to Adam Tooze for flagging Annie Lowry's excellent round-up of the Great Recession's impact on American society. After 'the economy tipped into the deepest contraction of the post–World War II era', Lowry writes, 'the Great Recession’s scars remain'. The recession exacerbated troubling movements already underway: erosion of middle-skilled jobs, vertical polarization of the labor market, decline in labor market participation, economic insecurity, racial polarization, vertical polarization, regional polarization, and the opioid crisis. 'A sicker, more unequal, more racially divided country: This is the legacy of the Great Recession.' Her conclusions are worth quoting in full and bring the framing into sharp relief.
Was the Great Recession a Natural Calamity?
Was the Great Recession a Natural Calamity?
Was the Great Recession a Natural Calamity?
Tip of the hat to Adam Tooze for flagging Annie Lowry's excellent round-up of the Great Recession's impact on American society. After 'the economy tipped into the deepest contraction of the post–World War II era', Lowry writes, 'the Great Recession’s scars remain'. The recession exacerbated troubling movements already underway: erosion of middle-skilled jobs, vertical polarization of the labor market, decline in labor market participation, economic insecurity, racial polarization, vertical polarization, regional polarization, and the opioid crisis. 'A sicker, more unequal, more racially divided country: This is the legacy of the Great Recession.' Her conclusions are worth quoting in full and bring the framing into sharp relief.