Kathryn Lavelle – Ellen and Dixon Long Associate Professor of World Affairs at case Western University and a Current Fellow of the Woodrow Wilson Center.
The known magnitude of the current recession already makes it the most challenging economic downturn since the great Depression. The massive stimulus programs aimed at the crisis are said to draw much inspiration from lessons learned in the wake of that depression. Yet some argue that a host of valuable lessons is found in a previous historic period: from the civil war to 1913. In that era successive panics led to fundamental regulatory reform. Kathryn Lavelle explains the value of the experience for these times.