FYI: The modern financial system is still in its infancy in many ways. This is why making historical comparisons between now and even 100 years ago or so becomes difficult. Things have changed rapidly in terms of the maturity, size, and scale of the economy.
In this piece I wrote for Fortune, I look at this idea through the lens of comparing recessions to depressions.
Regards,
Ted
https://awealthofcommonsense.com/2019/10/why-the-economy-is-still-relatively-new/
