首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
外语
Can Talk of a Depression Lead to Recession? People everywhere are talking about the Great Depression, which followed the Oct
Can Talk of a Depression Lead to Recession? People everywhere are talking about the Great Depression, which followed the Oct
admin
2013-07-11
59
问题
Can Talk of a Depression Lead to Recession?
People everywhere are talking about the Great Depression, which followed the October 1929 stock market crash and lasted until the United States entered World War II. It is a vivid story of year upon year of despair. This Depression narrative, however, is not merely a story about the past: it has started to inform our current expectations .
According to the Reuters—University of Michigan Survey of Consumers earlier this month, nearly two-thirds of consumers expected that the present downturn would last for five more years. President Obama, in his first press conference, evoked the Depression in warning of a "negative spiral" that "becomes difficult for us to get out of" and suggested the possibility of a " lost decade" as in Japan in the1990s. He said Congress needed to pass an economic stimulus package.
The attention paid to the Depression story may seem a logical consequence of our economic situation. But the retelling, in fact, is a cause of the current situation—because the Great Depression serves as a model for our expectations, damping what John Maynard Keynes called our "animal spirits" reducing consumers’ willingness to spend and businesses’ willingness to hire and expand. The Depression narrative could easily end up as a self-fulfilling prophecy. The popular response to vivid accounts of past depressions is partly psychological, but it has a rational base. We have to look at past episodes because economic theory, lacking the physical constants of the hard sciences, has never offered a complete account of the mechanics of depressions.
To understand the story’s significance in driving our thinking, it is important to recognize that the Great Depression itself was partly driven by the retelling of earlier depression stories. In the 1930s, there was incessant talk about the depressions of the 1870s and 1890s: each of those downturns lasted for the better part of a decade.
In his influential 1909 book, "Forty Years of American Finance," Alexander Dana Noyes argued that the depressions of the 1870s and the 1890s might have lasted much longer, except for accidents of history—a " European famine and a bumper crop at home " which stimulated the domestic economy through its agricultural sector. Early in the Depression, Forrest Davis worried in "What Price Wall Street?" that weakness after the panic of 1907 might have led to a prolonged depression if not for the accident of the World War. In 1932, a review of this book in The Times mourned that Mr. Davis had given us "no especial assurance that any of the traditional accidents can save us once more. The last war showed how terrible the next war will he."
Should President Obama have reinforced the Great Depression story? Perhaps he had to take that risk to promote the economic stimulus plan, and not just hope for some accident to save us. The story was already embedded in our consciousness, and will be with us until we see a real, solid boost from the stimulus package and its likely successors.
The past depressions were ended owing to______.
选项
A、experiences learned form past depressions
B、emergences of unexpected events
C、governmental economic stimulus programs
D、Wall Street’s economic plans
答案
B
解析
本题考查推理引申。文章第四、五段介绍了在大萧条之前出现的几次经济衰退对于大萧条所造成的影响。第五段首句指出,19世纪70年代和90年代的经济萧条的结束是由于历史上的意外事件(accidents of history):欧洲发生饥荒和美国谷物大丰收。第二句提到,经济大萧条的结束是由于第二次世界大战的爆发(the accident of the World War)即,以往经济危机的结束是由于意外事件的出现,[B]正确。文中虽然提到了大萧条以及大萧条以前的经济萧条,但并未提到它们为改善经济不景气的状况提供了经验,相反都在强调它们带给人们思想上消极、负面的影响加重了经济萧条,因此,[A]错误。经济刺激计划是本次经济危机采取的对策,和以往的经济危机无关,[C]错误。第五段提到华尔街,明显是批评指责其不管用(What Price Wall Street?),[D]错误。
转载请注明原文地址:https://kaotiyun.com/show/Ul4O777K
0
专业英语八级
相关试题推荐
Inrecentyears,collegestudentshavemorerighttoattendsocialactivities,amongwhichbeautycontestbecomesmoreandmore
TheUnitedStatesDeclarationofIndependencewasdraftedandsignedin
"Iwanttocriticizethesocialsystem,andtoshowitatwork,atitsmostintense."VirginiaWoolf’sprovocativestatementa
Bynow,itshouldcomeasnosurprisewhenscientistsdiscoveryetanothercaseofexperiencechangingthebrain.Fromthesenso
Ifitwereonlynecessarytodecidewhethertoteachelementarysciencetoeveryoneonamassbasisorfindthegiftedfewandt
Ifitwereonlynecessarytodecidewhethertoteachelementarysciencetoeveryoneonamassbasisorfindthegiftedfewandt
WilliamFaulknerwasborninOxford,Miss.Hehad【1】education,thenhejoinedtheBritishRoyalAirForceinCanadabecausehew
Whatmightdrivingonanautomatedhighwaybelike?Theanswerdependsonwhatkindofsystemisultimatelyadopted.Twodis
Childrentodayspendmoretimestareatcomputerand【M1】______TVscreensbothatschoolandathome.Scientific【M2】
ThumbsUpTheHitchhiker’sGuidetotheGalaxyisridinghighinthebestsellingfilmchartsandisalsobeingrepeatedasa
随机试题
4能够提高钻井液密度的是()。
Peopletodayarestilltalkingaboutthegenerationgap(代沟).Someparentscomplainthattheirchildrendonotshowthemproperr
II度羊水污染特点是
A.建筑材料B.装饰材料C.大气污染D.燃料燃烧E.烹调油烟室内空气中的氨主要来自
【2010年第4题】题1~5:某企业设10kV车间变电所,所带低压负荷为若干标称电压为380V的低压笼型电动机。其车间变电所380V低压配电母线短路容量为15MVA。请回答以下问题,并列出解答过程。某台笼型电动相,其额定电流为45A,定子空载电流25A
甲酒厂系增值税一般纳税人,主要经营粮食白酒的生产和销售,2020年10月发生以下经济业务:(1)进口一辆小汽车,将其作为固定资产供管理部门业务接待使用。海关确定的关税完税价格为36万元,关税税率为25%。(2)向某商场销售自产白酒80吨,开具普通发票,取得
依照《村民委员会组织法》的规定,村民委员会对()。
随着市场经济潮流的冲击和社会不良风气的影响,有些人开始注重名和利,而学术则变成了谋取名利的工具。为了能够尽早地脱颖而出,有些学人甚至完全放弃学术之追求真理性认识的本然功能,将学术批判变成自我彰显的“噱头”,于是,专批名人、伟人,借助媒体虚造声势,以致钻进为
Musiccomesinmanyforms;mostcountrieshaveastyleoftheirown【C1】______theturnofthecenturywhenjazzwasborn,America
阅读下列说明和图,回答问题1~问题3,将解答填入答题纸的对应栏内。【说明】某城市的各国家公园周边建造了许多供游客租用的小木屋和营地,为此该城市设置了一个中心售票处和若干个区域售票处。游客若想租用小木屋或营地,必须前往中心售票处进行预定并
最新回复
(
0
)