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Of all economic recessions experienced by the United States in the
postwar period, the Great Recession that began in 2008 was the
deepest, longest, and most destructive. Nevada was among the
hardest hit states, its people reeling from the aftereffects, and
the state government also experiencing a severe fiscal crisis.
University of Nevada economics professor Elliott Parker and
then-State Treasurer Kate Marshall make sense of what went wrong
and why, with the hope the state will learn lessons to prevent past
mistakes from being made again. This is a different kind of
economics book. Parker uses his expertise from doing research on
the East Asian fiscal crisis to give profound insights into what
happened and how to avoid future catastrophes. Marshall
personalizes it by providing vignettes of what it was actually like
to be in the trenches and fighting the inevitable political battles
that came up, and counteracting some of the falsehoods that certain
politicians were spreading about the recession. Parker and
Marshall's book should be required reading for not only every
single elected official in Nevada, but for any private citizen who
cares about the public good.
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