Stimulus headed off second Great Depression, Krugman says

08/10/2009 | Forbes

The world managed to avoid a second Great Depression through aggressive stimulus spending, but economic recovery will probably be "disappointing," said Nobel Prize-winning economist Paul Krugman. A full global recovery, likely to take two years or possibly longer, will not be anything like the "Phoenix-like" rebound that Asian economies experienced after their financial crisis in 1997 and 1998, he said.

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