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Financial Historian: COVID-19 Economic Depression

While some European economies have experienced depression in modern times, the US hasn't seen one since the 1930s. In a conversation with Ian Bremmer for GZERO World, Economic Historian Adam Tooze points to a dangerous mix of rising unemployment, skittish investors, and a lack of a social safety net as signs that it's time to discuss the possibility of prolonged economic depression.

Financial Historian: How Bad is the US' COVID-19 Economy?

In an interview with GZERO World host Ian Bremmer, economic historian Adam Tooze separates the hyperbole from the reality when it comes to the economic crisis. He says the world is in "new territory," and much uncertainty exists about when and how the situation improves. At the same time, the level of global financial stimulus is unprecedented.

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Is a Second Great Depression Coming? Adam Tooze on International Economic Crisis

Many of us experienced the major economic impact of the Great Recession from 2008-2010. The definition of a "depression" is harder to articulate, even for economists, because the US hasn't had one since the 1930s. But as unemployment rises and lockdowns to limit the spread of the coronavirus threaten the existence of businesses here in the US and around the world, we ask the question: Is another depression a possibility, and what would that look like today?

On this episode of GZERO World, Ian Bremmer poses this question to Columbia professor, economic historian, and author Adam Tooze. The two discuss the strength of the US and global economies before and during the COVID-19 pandemic, and realistic timeframes for when the financial outlook will improve.

Podcast: Is a second Great Depression coming?

Most of us are familiar with recession, and experienced the major economic impact of one from 2008-2010. It turns out, the definition of a "depression" is harder to articulate, even for economists, because the US hasn't had one since the 1930s. But as unemployment rises and lockdowns threaten the existence of businesses here and around the world, it's time to ask the question: Is another depression a possibility, and what would that look like today? On the latest episode of GZERO World, Ian Bremmer poses this question to leading economic historian and author Adam Tooze. The two discuss the strength of the US and global economies before and during the COVID-19 pandemic, and realistic timeframes for when the financial outlook will improve.

The ugly truth about the US economy

On GZERO World, Ian Bremmer asked financial historian Adam Tooze: Did the US really have the greatest economy in the world?

There are pockets of incredible affluence, of great success, of technological prowess of world conquering corporate ambition. Think of the tech firms, think of the way in which American banks have swept European competition out of the way. America, corporate America, elite America is one of the great winners of globalization, unsurprisingly, since they were the architects of that project. Have acquired other people along the way. The Chinese now are major contributors.

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