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From the article, it is clear that different economists have diverse opinion on the way to manage economic crisis. Whereas some argue that expansionary measures are the best to undertake, others view contraction measures feasible in correcting economic anomalies. Whichever the policy adopted, the end result should be recovery of the slow pace of growth (Chinn & Frieden, 2011). The article further compares the mitigation strategies pursued by different economies and the way they messed in the process.
From the article, the author tries to justify his version that the lessons learnt in the 1930s depression helped in salvaging the 2008 economic depression. The author elucidates this by giving figures of the rate of unemployment, interest rates, currency rates, and contagion caused in the financial markets in both the depression and the recession (1936, 1938). From the analysis, it is evident that the expansionary policies that were employed in 2008 recession had better impacts than the contractionary policies in the 1930s recession (Krugman, 2009). In all instances, monetary policy was important in controlling the supply of money, exchange rates fluctuations and bringing smooth operations of the financial market. Fiscal policies were also crucial in stimulating growth hence increasing rate of employment and investment (2009). Debt management and control must also be checked in managing the depression.
The fact that the author has extensively and concisely dissected the comparison makes me agree that the article is right. The facts have been well substantiated with figures and correct economic theories and knowledge. In my opinion, the periods of recession and depressions demands policies that stimulates growth and controls the level of debt while keeping the financial sector sound. In conclusion, Obama’s administration learned from the failure of the Roosevelt regime thus
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The conclusion is that there is no set of personal qualities, which present in all effective leaders are often cited as evidence that the effectiveness of leadership is situational in nature. However, the Stogdill said that his view is not enough emphasizes the personal nature of leadership. He argues that there are substantial evidence for the fact that different situations require different ability and quality.
Leahy (2010) who confesses to being a worrier, made many interesting points. He suggests that cats do not think about what they do because they are very confident about who they are and their needs. This article was not only entertaining, but it did have many things to think about and explore in one’s self.
Keywords: statistical, Chatfield, investigation, pitfalls, guidelines. Reading Reflection Statistics is defined as application of methods such as quantitative or qualitative principles to collect analyze and present or interpret numerical data (The Florida State University, 2010).
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