Coffee? Tea? a Depression? … Anyone?

Judge Richard Posner suggests that an economic depression might not be that bad for the country and that depressions often have a silver lining. His co-blogger, Gary Becker, counters that if there’s a silver lining, then it’s awfully thin. Perhaps more interesting is This American Life’s treatment of economic inequality last week. Particularly memorable is the segment devoted to Studs Terkel’s oral histories of the Depression in which he interviews (circa 1970) people who lived through this time and have a thing or two to say about what depressions are like from the other side of the tracks.