26 January 2012

UK Economy Is Worse Off Than During Great Depression

In the United States, there is no doubt that the "Great Recession" we experienced in the wake of the financial crisis, while serious, was not as deep as the Great Depression of the 1930s.

In the United Kingdom, this is not the case. Their Great Recession is by some GDP measures worse than the one that they experienced during the Great Depression in the 1930s.