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Such a panicked freeze could collapse the economy.
Still, despite predictions that the economic model would collapse, the economy grew by 9.2 percent last year.
Anyway, I'm for the Wren-Lewis proposal: let's collapse the economy for a year, so we can have great growth the year following.
The "process," admittedly, was a hurried one; it had to be, what with the banking system frighteningly close to collapse, the economy in its deepest crisis since the nineteen-thirties, and job losses, which approached three million last year, accelerating to more than a half million a month.
All our banks collapse, the economy melts down, there is a political crisis, a currency crisis, and to top it all off, a volcano erupts and grounds planes all over the world – just a regular day at the office for us.
Speaking at a community centre in London, he said it was "perverse" that "the simplest way of reducing child poverty is to collapse the economy".
Similar(47)
But the party ended in August 1998, when the ruble collapsed, the economy nose-dived and living standards fell by 20percentt.
"But we did it because we knew that if the financial system collapsed, the economy would immediately follow".
The greed of the Wall Street bankers collapsed the economy in 2008.
And, unbelievably, they are the very same people whose reckless speculation collapsed the economy and cost eight million Americans their jobs.
With incomes collapsing, the economy -- which is largely fueled by domestic and tourist consumption -- started collapsing, and small- and medium-sized enterprises closed by the tens-of-thousands.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com