Doug Poretz

Guess Who's Talking About Recession?

I think it is misleading to discuss whether the current economic downturn is a "recession" or not. "Recessions" are economic phenomena associated with manufacturing economies. But we are tranisitioning from such economies to a global knowledge economy. If we try to define new phenomena using old terms, aren't we doomed to adopt old remedies that are probably wrong? If interested, I wrote more extensively about this at deathoftime.com -- see post titled "This 'Recession' May Be Something Other Than A Recession"