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Introduction

In: Crisis: Cause, Containment and Cure

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  • Thomas F. Huertas

Abstract

In 2009, for the first time in over fifty years, world output declined. At the start of the year economic output was declining at a rate faster than that experienced in the Great Depression. Even though this slide was arrested, the decline in output in the world’s advanced industrial economies in 2009 was nearly 4% (IMF 2009a). In round numbers the fall in output amounted to over $4 trillion.

Suggested Citation

  • Thomas F. Huertas, 2010. "Introduction," Palgrave Macmillan Books, in: Crisis: Cause, Containment and Cure, pages 1-3, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-27743-4_1
    DOI: 10.1057/9780230277434_1
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