%20%20) no-repeat;height:12px;width:12px;margin-right:10px;content:"";display:inline-block;vertical-align:middle;}#sTag_0_0_20_0_0_6_0_0_0_1_0_0 .widget__shares{float:right;margin:20px 0 0;padding-right:10px;}#sTag_0_0_20_0_0_6_0_0_0_1_0_0 .widget__shares:before{margin:40px 0 0;}#sTag_0_0_20_0_0_6_0_0_0_1_0_0 .widget__shares a{background-color:#0000;color:#242424;font-size:20px;padding:0;}#sTag_0_0_20_0_0_6_0_0_0_1_0_0 .tags{margin:35px 0 20px;}#sTag_0_0_20_0_0_6_0_0_0_1_0_0 .tags:before{content:"Filed Under:";display:inline-block;margin:10px 0 10px 10px;font-size:14px;}#sTag_0_0_20_0_0_6_0_0_0_1_0_0 .tags .tags__item:hover{color:#00a3e0;}#sTag_0_0_20_0_0_6_0_0_0_1_0_0 .tags .tags__item{border-radius:19.5px;color:#000;font-size:14px;line-height:1.5;margin:0 5px 6px;padding:0 0 0 6px;text-transform:lowercase;}#sTag_0_0_20_0_0_6_0_0_0_1_0_0{padding:0 0 0 40px;}@media (min-width: 768px) and (max-width: 1023px){#sTag_0_0_20_0_0_6_0_0_0_1_0_0{padding:0 40px;}}#sTag_0_0_20_0_0_6_0_0_0_1_0_0 .widget .widget__headline-text{font-size:40px;line-height:42px;}#sTag_0_0_20_0_0_6_0_0_0_1_0_0 .social-date{display:inline-block;line-height:13px;vertical-align:top;}#sTag_0_0_20_0_0_6_0_0_0_1_0_0 .social-date:after{content:"|";padding:5px;}#sTag_0_0_20_0_0_6_0_0_0_1_0_0 .social-date__text{color:#242424;font-size:13px;line-height:13px;}#sTag_0_0_20_0_0_6_0_0_0_1_0_0 .social-author{color:#242424;font-size:13px;line-height:13px;display:inline-block;vertical-align:top;}#sTag_0_0_20_0_0_6_0_0_0_1_0_0 .social-author__avatar{display:none;}#sTag_0_0_20_0_0_6_0_0_0_1_0_0 .social-author__name{color:#242424;font-size:13px;line-height:13px;font-weight:400;}#sTag_0_0_20_0_0_6_0_0_0_1_0_0 .posts-custom .posts-wrapper:after{margin-bottom:-60px;}#sTag_0_0_20_0_0_6_0_0_0_1_0_0 .posts-custom .widget{margin-bottom:60px;}#sTag_0_0_20_0_0_6_0_0_0_1_0_1 .body .widget__show-more:before{background:url(data:image/svg+xml;utf8,%20%20 %20 %20 ) no-repeat;height:12px;width:12px;margin-right:10px;content:"";display:inline-block;vertical-align:middle;}#sTag_0_0_20_0_0_6_0_0_0_1_0_1 .widget__shares:before{margin:40px 0 0;}#sTag_0_0_20_0_0_6_0_0_0_1_0_1 .tags:before{content:"Filed Under:";display:inline-block;font-size:14px;margin:10px 0 10px 10px;}#sTag_0_0_20_0_0_6_0_0_0_1_0_1 .tags .tags__item:hover{color:#00a3e0;}#sTag_0_0_20_0_0_6_0_0_0_1_0_1{padding:0 0 0 40px;}@media (min-width: 768px) and (max-width: 1023px){#sTag_0_0_20_0_0_6_0_0_0_1_0_1{padding:0 40px;}}#sTag_0_0_20_0_0_6_0_0_0_1_0_1 .social-date:after{content:"|";padding:5px;}#sTag_0_0_20_0_0_6_0_0_0_1_0_3 .body .widget__show-more:before{background:url(data:image/svg+xml;utf8,%20%20 %20 %20 ) no-repeat;height:12px;width:12px;margin-right:10px;content:"";display:inline-block;vertical-align:middle;}#sTag_0_0_20_0_0_6_0_0_0_1_0_3 .widget__shares:before{margin:40px 0 0;}#sTag_0_0_20_0_0_6_0_0_0_1_0_3 .tags:before{content:"Filed Under:";display:inline-block;font-size:14px;margin:10px 0 10px 10px;}#sTag_0_0_20_0_0_6_0_0_0_1_0_3 .tags .tags__item:hover{color:#00a3e0;}#sTag_0_0_20_0_0_6_0_0_0_1_0_3{padding:0 0 0 40px;}@media (min-width: 768px) and (max-width: 1023px){#sTag_0_0_20_0_0_6_0_0_0_1_0_3{padding:0 40px;}}#sTag_0_0_20_0_0_6_0_0_0_1_0_3 .social-date:after{content:"|";padding:5px;}#sTag_0_0_20_0_0_6_0_0_0_1_0_4_0 .body .widget__show-more:before{background:url(data:image/svg+xml;utf8,%20%20 %20 %20 ) no-repeat;height:12px;width:12px;margin-right:10px;content:"";display:inline-block;vertical-align:middle;}#sTag_0_0_20_0_0_6_0_0_0_1_0_4_0 .widget__shares:before{margin:40px 0 0;}#sTag_0_0_20_0_0_6_0_0_0_1_0_4_0 .tags:before{content:"Filed Under:";display:inline-block;font-size:14px;margin:10px 0 10px 10px;}#sTag_0_0_20_0_0_6_0_0_0_1_0_4_0 .tags .tags__item:hover{color:#00a3e0;}#sTag_0_0_20_0_0_6_0_0_0_1_0_4_0{padding:0 0 0 40px;}@media (min-width: 768px) and (max-width: 1023px){#sTag_0_0_20_0_0_6_0_0_0_1_0_4_0{padding:0 40px;}}#sTag_0_0_20_0_0_6_0_0_0_1_0_4_0 .social-date:after{content:"|";padding:5px;}#sTag_0_0_20_0_0_6_0_0_0_1_0_4_1_1_0{margin:0 0 20px 40px;}#s_Newsletter-Blue-Gif_0_0_24_0_0_0{background:#00a3e0;margin:20px 0;}#s_Newsletter-Blue-Gif_0_0_24_0_0_0_0{display:inline-block;padding:50px 20px 20px;}#s_Newsletter-Blue-Gif_0_0_24_0_0_0_1{background:#000;display:inline-block;float:right;width:33%;clip-path:polygon(8% 0%, 100% 0%, 100% 100%, 0% 100%);}@media (min-width: 1024px){#s_Newsletter-Blue-Gif_0_0_24_0_0_0_1{clip-path:polygon(8% 0%, 100% 0%, 100% 100%, 0% 100%);}}#s_Newsletter-Blue-Gif_0_0_24_0_0_0_1_0{color:#fff;font-weight:bold;text-align:right;font-family:Montserrat, sans-serif;font-size:18px;}#s_Newsletter-Blue-Gif_0_0_24_0_0_0_1_1{display:flex;float:right;}#s_Newsletter-Blue-Gif_0_0_24_0_0_0_1_1_0 .social-links{background-color:#0000;}#s_Newsletter-Blue-Gif_0_0_24_0_0_0_1_1_0 .social-links__link{font-size:18px;color:#fff;background-color:#0000;padding:0;}@media (min-width: 1024px){#sTag_0_0_20_0_0_6_0_1{width:370px;margin-top:40px;padding-right:55px !important;}}#sTag_0_0_20_0_0_6_0_1:after{margin-top:-30px;}#sTag_0_0_20_0_0_6_0_1 > *{margin-bottom:30px;}#sTag_0_0_20_0_0_6_0_1_0{display:none;}@media (min-width: 1024px){#sTag_0_0_20_0_0_6_0_1_0{display:block;}}@media (min-width: 768px) and (max-width: 1023px){#sTag_0_0_20_0_0_6_0_1_0{padding:0 40px;}}#sNewsletter_0_0_16_0_0_0.row-wrapper{background:linear-gradient(90deg, #00a3e0 0%, #0090c6 35%, #01739f 100%);}@media (min-width: 1024px){#sNewsletter_0_0_16_0_0_0.row-wrapper{max-width:300px;}}#sNewsletter_0_0_16_0_0_0_0{padding-bottom:20px;}#logotext{color:#fff;text-align:center;}.sidebar_newsletter_block{padding:0 20px;}#thinner{font-weight:300;}.updated-newsletter-h2{color:#fff;font-size:17px;font-stretch:normal;font-weight:bold;letter-spacing:1px;line-height:1.15;text-align:center;}.sidebar_newsletter_block .news_form{text-align:center;position:relative;max-width:500px;margin-left:auto;margin-right:auto;}.sidebar_newsletter_block .news-element__input{width:100%;color:#8f8f8f;padding-right:96px;box-sizing:border-box;background:#fff;}.sidebar_newsletter_block .news-element__submit{color:#fff;position:absolute;top:0;right:0;background:#000;}.sidebar_newsletter_block .news-element__input, .sidebar_newsletter_block .news-element__submit{border:0;padding:10px;font-size:1.6rem;font-weight:500;height:40px;line-height:20px;margin:0;}.sidebar_newsletter_block{padding-bottom:20px;}.sidebar_newsletter_block .news-element__submit:focus, .sidebar_newsletter_block .news-element__submit:focus-visible{outline-color:#f5fcff;}@media (min-width: 768px) and (max-width: 1023px){#sTag_0_0_20_0_0_6_0_1_1{padding:0 40px;}}#s__MostPopularVideos_0_0_25_0_0_0.row-wrapper{background-color:#000;padding:20px;}@media (min-width: 768px) and (max-width: 1023px){#s__MostPopularVideos_0_0_25_0_0_0.row-wrapper{padding:40px;}}#s__MostPopularVideos_0_0_25_0_0_0_0:after{margin-top:-30px;}#s__MostPopularVideos_0_0_25_0_0_0_0 > *{margin-bottom:30px;}#s__MostPopularVideos_0_0_25_0_0_0_0_0 .module-headline__text{color:#fff;font-size:18px;line-height:1;}#s__MostPopularVideos_0_0_25_0_0_0_0_0 .widget .widget__headline-text{color:#fff;font-size:20px;line-height:1;}#s__MostPopularVideos_0_0_25_0_0_0_0_0 .social-date{display:inline-block;line-height:12px;vertical-align:top;}#s__MostPopularVideos_0_0_25_0_0_0_0_0 .social-date__text{color:#fff;font-size:12px;line-height:12px;}#s__MostPopularVideos_0_0_25_0_0_0_0_0 .social-date__text:after{content:"|";padding:5px;}#s__MostPopularVideos_0_0_25_0_0_0_0_0 .social-author{color:#242424;display:inline-block;font-size:12px;line-height:12px;vertical-align:top;}#s__MostPopularVideos_0_0_25_0_0_0_0_0 .social-author__avatar{display:none;}#s__MostPopularVideos_0_0_25_0_0_0_0_0 .social-author__name{color:#fff;font-size:12px;font-weight:400;line-height:12px;}#s__MostPopularVideos_0_0_25_0_0_0_0_0 .posts-custom .posts-wrapper:after{margin-bottom:0;}#s__MostPopularVideos_0_0_25_0_0_0_0_0 .posts-custom .widget{margin-bottom:0;}#s__MostPopularVideos_0_0_25_0_0_0_0_1 .widget .widget__body{margin:0 -10px;}#s__MostPopularVideos_0_0_25_0_0_0_0_1 .widget__headline{line-height:20px;max-height:40px;overflow:hidden;}#s__MostPopularVideos_0_0_25_0_0_0_0_1 .widget .widget__headline-text{color:#fff;font-size:16px;}#s__MostPopularVideos_0_0_25_0_0_0_0_1 .social-date{display:inline-block;line-height:12px;vertical-align:top;}#s__MostPopularVideos_0_0_25_0_0_0_0_1 .social-date__text{color:#fff;font-size:12px;line-height:12px;}#sTag_0_0_20_0_0_6_0_1_2{display:none;}@media (min-width: 1024px){#sTag_0_0_20_0_0_6_0_1_2{display:block;}}#sTag_0_0_20_0_0_6_0_1_2_0_0_0:after{margin-top:-20px;}#sTag_0_0_20_0_0_6_0_1_2_0_0_0 > *{margin-bottom:20px;}#sTag_0_0_20_0_0_6_0_1_2_0_0_0_0{padding:20px;background-color:#000;}#sTag_0_0_20_0_0_6_0_1_2_0_0_0_0 .module-headline__text{line-height:1;font-size:18px;color:#fff;}@media (min-width: 768px) and (max-width: 1023px){#sTag_0_0_20_0_0_6_0_1_2_0_0_0_1 .widget:after{width:50%;}}#sTag_0_0_20_0_0_6_0_1_2_0_0_0_1 .widget .widget__head{display:none;}#sTag_0_0_20_0_0_6_0_1_2_0_0_0_1 .widget__headline{line-height:20px;overflow:hidden;max-height:40px;}#sTag_0_0_20_0_0_6_0_1_2_0_0_0_1 .widget .widget__headline-text{font-size:16px;color:#242424;}#sTag_0_0_20_0_0_6_0_1_2_0_0_0_1 .social-date{display:inline-block;line-height:12px;vertical-align:top;}#sTag_0_0_20_0_0_6_0_1_2_0_0_0_1 .social-date__text{color:#242424;font-size:12px;line-height:12px;}#sTag_0_0_20_0_0_6_0_1_2_0_0_0_1 .posts-custom .posts-wrapper:after{margin-bottom:-20px;}#sTag_0_0_20_0_0_6_0_1_2_0_0_0_1 .posts-custom .widget{margin-bottom:20px;}#sTag_0_0_20_0_0_6_0_1_2_0_0_0_1 .posts-custom .posts-wrapper{margin-left:-20px;margin-right:-20px;}#sTag_0_0_20_0_0_6_0_1_2_0_0_0_1 .posts-custom article{margin:0 20px;}.photo-caption, .photo-credit, .photo-caption *, .photo-credit *{font-size:13px;color:gray;display:inline;line-height:1.2em;}.photo-caption a, .photo-credit a, .post-splash-custom .photo-credit a{color:#00a3e0;font-size:inherit;}.photo-credit:before{content:"Credit:";}.photo-credit a[href*="youtu.be"], .photo-credit a[href*="youtube"]{display:none;}.video-article .photo-credit:before{content:" ";}.menu-item:hover .menu-dropdown{display:grid;}.sections-list__item--events, .topbar_wrapper .list__item[href="https://www.gzeromedia.com/events/"], .topbar_wrapper a[href*="events/could-our-response-to-covid-help-end-poverty-register"], .sections-list__item--could-our-response-to-covid-help-end-poverty-register{display:none !important;}.fa-facebook:before{content:"";}.fa-youtube:before{content:"";}.nav_items_scrollable.list::-webkit-scrollbar{display:none;}.body, .social-date, .social-author__name{font-family:Roboto, sans-serif !important;}.widget .widget__headline-text, .post-splash-custom .headline{;}.around-the-web{margin:25px 0;}.from-your-site__headline{font-size:0;visibility:hidden;}.from-your-site__headline:after{content:"Related Coverage";font-size:18px;visibility:visible;}.around-the-web__list{list-style:circle;margin-left:1em;}.from-your-site__link{font-size:18px;font-weight:400;}.around-the-web__link, .from-your-site__link{color:#00a3e0;}.widget .widget__headline-text, .post-splash-custom .headline{font-family:Roboto Slab, serif;}.post__stream .widget__show-more:before{content:"";background:url("data:image/svg+xml;base64,PHN2ZyB4bWxucz0naHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmcnIHdpZHRoPScxOCcgaGVpZ2h0PScxOCcgdmlld0JveD0nMCAwIDQ4IDQ4Jz48cGF0aCBkPSdNMzggMjZIMjZ2MTJoLTRWMjZIMTB2LTRoMTJWMTBoNHYxMmgxMnY0eicgZmlsbD0nIzAwYTNlMCc+PC9wYXRoPjwvc3ZnPg==") no-repeat !important;vertical-align:-5px !important;height:18px !important;width:18px !important;margin-right:2px !important;}.social-author__name:after{content:", ";}.social-author__name:last-of-type:after{content:"";}.social-author__name:last-of-type:before{content:" and ";}.social-author__name:first-of-type:before{content:"";}.social-author__name:nth-last-of-type(2):after{content:"";}.middle_newsletter_block .news_form{float:left;}.middle_newsletter_block .news_form, .sidebar_newsletter_block .news_form{text-align:center;position:relative;max-width:500px;margin-left:auto;margin-right:auto;}.middle_newsletter_block .news-element__input, .sidebar_newsletter_block .news-element__input{width:100%;color:#8f8f8f;padding-right:96px;box-sizing:border-box;background:#fff;}.middle_newsletter_block .news-element__submit, .sidebar_newsletter_block .news-element__submit{color:#fff;position:absolute;top:0;right:0;background:#000;}.middle_newsletter_block .news-element__input, .middle_newsletter_block .news-element__submit, .sidebar_newsletter_block .news-element__input, .sidebar_newsletter_block .news-element__submit{border:0;padding:10px;font-size:1.6rem;font-weight:500;height:40px;line-height:20px;margin:0;}.middle_newsletter_block .module-headline__text{color:#fff;font-size:17px;text-align:left;padding-bottom:6px;}.blue-gif-newsletter .social-links__link{margin:2px 0;}.blue-gif-newsletter .social-wrapper{padding:55px 18px 30px;}@media (min-width: 1024px){.most___popular_video__wrapper .video-article > .row > .col > .widget__head{margin-bottom:10px;}}@media (min-width: 1024px){.middle_newsletter_block .news-element__input{min-width:445px;}}@media (min-width: 1024px){.middle_newsletter_block{max-width:80%;}}.rm-breadcrumb__list:before{background:url("https://assets.rbl.ms/22915090/origin.png");background-size:contain;content:"";display:inline-block;float:left;height:30px;margin-right:3px;width:30px;margin-top:-5px;}.top_homepage_post .widget__headline-text:after{content:"Read more";font-family:Roboto, sans-serif;font-size:14px;color:#00a1df;border:1px solid #00a1df;padding:8px 10px;margin:auto auto 30px;position:absolute;bottom:0;line-height:normal;left:0;right:0;margin-left:auto;margin-right:auto;text-align:center;width:fit-content;}.top_homepage_post .widget__headline-text.cf_custom:after{content:attr(data-after);}.top_homepage_post .widget__headline-text:hover:after{background:#00a1df;color:#fff;}@media screen and (min-width: 768px){.middle_newsletter_block .news-element__input{min-width:380px;}}@media screen and (min-width: 1024px) and (max-width: 1171px){.middle_newsletter_block{max-width:40%;}}@media screen and (min-width: 1024px) and (max-width: 1171px){.middle_newsletter_block .news-element__input{min-width:280px;}}@media screen and (min-width: 1024px) and (max-width: 1171px){.blue-gif-newsletter .social-links__link{margin:0;}}@media screen and (min-width: 1024px) and (max-width: 1171px){.blue-gif-newsletter .social-wrapper{padding:82px 18px 30px;}}.nav_items_scrollable .list::-webkit-scrollbar{height:0;}.top-link{transition:all .25s ease-in-out;position:fixed;bottom:25px;right:5px;display:inline-flex;cursor:pointer;align-items:center;justify-content:center;margin:0 0 1em;padding:.15em;z-index:1;}.top-link.hide{visibility:hidden;opacity:0;}.top-link:hover{;}@media (min-width: 768px){.top-link{bottom:80px;}}.section_title_wrapper{text-align:center;position:relative;overflow:hidden;margin-left:40px;z-index:1;}.section-title:before, .section-title:after{content:"";position:absolute;height:1px;border-bottom:1px solid #000;top:17px;width:5000px;}.section-title:before{right:100%;margin-right:15px;}.section-title:after{left:100%;margin-left:15px;}.section-title{font-size:16px;font-weight:bold;font-style:normal;font-stretch:normal;line-height:40px;letter-spacing:normal;text-align:center;color:#000;padding:0 15px;background:#fff;display:inline-block;z-index:8;text-transform:capitalize;position:relative;margin-top:5px;}@media (max-width: 1023px){.section_title_wrapper{margin:0 40px;}}
avoiding another great depression news - GZERO Media
Option for third bar for “breaking news” or live event
JOIN
close Search Search
AI-powered
search, human-powered content.
GZERO Daily: our free newsletter about global politics
Keep up with what’s going on around the world - and why it matters.
Sign Up GZERO Daily: our free newsletter about global politics
Sign Up We have updated our Privacy Policy and Terms of Use for Eurasia Group and its affiliates, including GZERO Media, to clarify the types of data we collect, how we collect it, how we use data and with whom we share data. By using our website you consent to our Terms and Conditions and Privacy Policy, including the transfer of your personal data to the United States from your country of residence, and our use of cookies described in our Cookie Policy .
What Saved the Global Economy From Another Great Depression? | Historian Adam Tooze | GZERO World
September 23, 2021
In May 2020, economic historian Adam Tooze told GZERO World he feared 1 in 5 American workers could still be out of job now due to COVID. It didn't happen. Why? Tooze says he failed to anticipate how quickly we'd get highly effective vaccines, and the scale of the economic stimulus the government was willing to put up. During the 2008 financial crisis, he explains, "we were still beginning to flex our muscles with regards to economic policy, and the scale of fiscal and monetary stimulus that we've seen is as unprecedented as the shock of the spring of last year."
Watch Tooze's interview with Ian Bremmer on the latest episode of GZERO World , airing on US public television starting Friday 9/23/21. Check local listings.