Does the word “recession” change your behavior?
Way back in January, I mused about whether we were already in a recession — or something that acted like a recession — despite no official proclamation of one from government economists.
Here’s my question for today: now that the official “recession” bridge has been crossed, has it made any change in your consumer or business behavior? To put it another way, did anybody wait until the official proclamation to change what they were doing economically?
My underlying concern: the news media spent loads of time, as they always do in such cases, debating whether the U.S. economy had officially entered a recession. And it may not have mattered one bit.
The moral of this story is an old one: just because the media covers an angle heavily doesn’t make it important.
Category: Economics,MediaIf you liked this post, please consider subscribing to the RSS feed so you can receive future articles delivered to your feed reader.
No comments yet. Be the first.
Leave A Comment