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Cathartic recession?

Geoff Riley

26th January 2008

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Cathartic

  1. causing bowel evacuation, usually of liquid feces; an agent that so acts.
  2. producing catharsis.

Evan Davis in his excellent blog ‘Evanomics’ was prompted to ask Larry Summers this morning on the BBC radio 4 Today programme whether there was such a thing as a cathartic recession - a downturn that helped to rid an economy of financial excess; raise private sector savings and bring about a correction of macroeconomic imbalances such as an enormous trade deficit.

Evan’s blog post can be read here

David Warsh writes here about the US economy and considers whether there has never been a better time for a recession

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Geoff Riley

Geoff Riley FRSA has been teaching Economics for nearly forty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD and Revision conferences in the UK and overseas.

@tutor2uGeoff

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