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Jacques-Olivier Martin: "The magnitude of economic crises ..."

2020-05-03T20:26:27.421Z


CHRONICLE - Crises are intensifying in a world that has never produced so much wealth, where value chains are global and information is instantaneous.


Is there a lack of imagination when it comes to qualifying the intensity of a crisis? Already in 2008, when the subprime mortgage and the ensuing economic collapse were sweeping, politicians, media and economists were talking about the worst crisis since 1929. Bruno Le Maire, our Minister of the Economy, very early on choose the same reference. Some have gone a step further, claiming that we have been experiencing the strongest economic slump for over a century.

Read also: France should experience in 2020 its strongest recession since 1945, according to Le Maire

Let historians check the reality of these comparisons. There is certainly a bit of excess in public speaking. But is it really surprising, it has become so difficult to be heard and to underline the gravity of exceptional events when a constant flow of information and expressions of all kinds spills over the internet and social networks?

Either way, it's hard to deny that crises are intensifying in a world that has never produced so much wealth,

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Source: lefigaro

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