Some markets are ugly. Others work miracles.

An article by Vernon L. Smith featured in the Daily Beast.

“The Great Recession began in the fourth quarter of 2007. Measured in Depression clock time, 2012 was 1934, when the U.S. economy expanded 7.7 percent. Today such expansion seems remote. Rather, the economy is still stuck in a low-growth rut, the second such severe downturn in the United States since 1929.”…

To read the full article, please visit The Daily Beast online.