{"id":40321,"date":"2011-10-11T11:06:30","date_gmt":"2011-10-11T16:06:30","guid":{"rendered":"http:\/\/media.lclark.edu\/content\/hart-landsberg\/2011\/10\/10\/the-economic-crisis-causes-and-responses\/"},"modified":"2012-02-20T16:07:33","modified_gmt":"2012-02-20T21:07:33","slug":"the-economic-crisis-causes-and-responses","status":"publish","type":"post","link":"https:\/\/thesocietypages.org\/socimages\/2011\/10\/11\/the-economic-crisis-causes-and-responses\/","title":{"rendered":"The Economic Crisis: Causes And Responses"},"content":{"rendered":"

An April 2011 Gallup poll<\/a> found that 29% of Americans thought that the U.S. economy was in a depression.\u00a0 Another 26% thought\u00a0it was only a recession.\u00a0\u00a0\u00a0This is scary since, according to the National Bureau of Economic Research, we have been in an economic expansion since June 2009.<\/p>\n

Why would so many Americans\u00a0feel this way you might ask.\u00a0 Here is one reason.\u00a0 According to recent\u00a0Census Bureau<\/a> data,\u00a0during the recession, which lasted from December 2007 to June 2009, inflation-adjusted median household income fell by 3.2%.\u00a0 Between June 2009 and June 2011, a period of economic expansion, inflation-adjusted median household income fell by 6.7%.\u00a0\u00a0\u00a0This decline is illustrated in the New York Times chart below<\/a>.<\/p>\n

\"1010-nat-incomeweb.jpg\"<\/a><\/p>\n

I recently appeared on the\u00a0Alliance for Democracy\u2019s \u201cPopulist Dialogue\u201d\u00a0TV show to talk about our\u00a0economic crisis and possible responses to it.\u00a0 You can watch the show here<\/a> or below.<\/p>\n