Wednesday, October 14, 2009

Editorial: The recession is over? It's news to most

The unnamed Courier editor once again demonstrates his pitifully poor understanding of the English language.

"Recession" in this context means "reverse growth," i.e. a shrinking economy. It does not mean the effects of economic shrinkage. The end of a recession is the economic low point, crudely speaking, and it takes sustained expansion to make up the lost growth. This is not difficult to understand at all.

But the editor is confusing the technical pronouncements of economists with what he wants to hear about real-world effects on investment and employment. One might defend this as keeping intellectual pace with his audience, but I'd really prefer to avoid such cynicism.

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