The great contraction of the United States: Structural or financial crisis?

Abstract

Since 2007, the economy of the United States has followed a path of instability, with the policies implemented until now insufficient to restore the stability necessary for economic advancement. Through an examination of past important crises in the 1870s and the 1930s, this article argues that in the current crisis, the policies undertaken have been wholly inadequate, as reflected in the performance of credit and unemployment, two fundamental aspects of any possibe recovery.