Jan

21

Recession: A Self-Fulfilling Prophecy?

Filed Under economy 



Newspaper editorial page editor Leo Morris writes that recession is a self-fulfilling prophecy.

So we undoubtedly will have one, because of the phenomenon that a recession provides the best example of: the self-fulfilling prophecy. Consumer spending is something like 70 percent of our economy. If people are uneasy about the economy, the will spend less, thereby bringing on the very thing they fear.

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