Don’t dismiss the psychological impact of poor economic growth and increasingly weighty economic sanctions. Yale professor Robert Shiller is out with a new essay at Project Syndicate called “Parallels to 1937” that tackles the issue of how an economic malaise can impact the psychology of citizens. The Nobel prize winning economist examines the international dynamics currently at play in Europe. Shiller writes that it took 8 years after the stock-market crash of 1929 for any real economic recovery to take place, and while the situation isn’t quite as bad today, there are several psychological impacts from Europe’s recent …read more
Source: Business Insider
