Abstract
Meltdown did not happen, but the world came close. Following the failure of Lehman Brothers the world economy went into a free fall. Output declined at an even faster rate than it had at the start of the Great Depression. The prospect of a downward debt-deflation spiral loomed.1
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© 2011 Thomas F. Huertas
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Huertas, T.F. (2011). Unconditional Containment. In: Crisis: Cause, Containment and Cure. Palgrave Macmillan, London. https://doi.org/10.1057/9780230321359_6
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DOI: https://doi.org/10.1057/9780230321359_6
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-0-230-29831-6
Online ISBN: 978-0-230-32135-9
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)