Objects in Mirror: February 20, 2009 Archive

How does the 70s recession compare to today's economy?

Posted at 6:42 AM on February 20, 2009 by Julia Schrenkler

This is a not a moment of nostalgia crisis, but actually a question Public Insight Journalism wants you to answer:

Where were you during the '70s recession?

The Arab Oil Embargo and U.S. price controls; double-digit inflation and "Whip Inflation Now" buttons. These were the 1970s, a time many look back on as a period of great economic difficulty.

I'm interested in the responses. It is almost too easy to point to the parallels, and I've read plenty of blogs that outline the cyclical nature of our social experiences...but maybe we can learn a little something this time our economy Tilt-a-Whirl spins round.