Re: [Pen-l] Remember, the recession isn't all bad

[Carrol Cox <cbcox@xxxxxxxxx>]

Doug Henwood wrote:
> 
> 
> 
> Or, as Andrew Mellon said after the 1929 crash, a depression will help
> us lead more moral lives.

Are you quoting exactly? When was the term "depression" first used for
that post-crash period. The ordinary word had been "slump," and my
understanding was that Hoover proposed "depresdsion" as a euphemism: It
wasn't a slump, it was just a little "depression," i.e. a shallow, not
deep, slump.

Carrol

_______________________________________________
pen-l mailing list
pen-l@xxxxxxxxxxxxxxxxxx
https://lists.csuchico.edu/mailman/listinfo/pen-l