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Attached is a graph showing the job losses for US recessions since 1948. One thing economists have pointed out is that the shape of the functions have changed - prior to about 1990, there would be a rapid losses of jobs, which would hit a sharp minimum, then rise quickly back up; whereas the last few recessions have had slow prolonged loss curves, and equally slow recoveries. Now does anyone else think these have *uncanny* resemblances to auditory filters in normal and hearing impaired persons? Hmm? So, is the US economy like a person with a profound hearing loss? That doesn't bode well for remedial efforts...
Feel free to stretch this metaphor until it snaps.
Brian Gygi, Ph.D.
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