Apocalypse then

摘要

AS A supplier of momentary relief, the Great Depression seems an unlikely candidate. But when it turns up on page 363 of Walter Scheidel's "The Great Level-er" it feels oddly welcome. For once-and it is only once, for no other recession in American history boasts the same achievement-real wages rise and the incomes of the most affluent fall to a degree that has a "powerful impact on economic inequality". Yes, it brought widespread suffering and dreadful misery. But it did not bring death to millions, and in that it stands out.