The Economy: Insights from the Outside

"There have been four U.S. recessions in less than 15 years: no other advanced country has had so many. Moreover, although they have generally been milder than prewar downturns they have by no means been insignificant: they have certainly been more serious than any experienced in Western Europe since the war." Thus, in the current issue of London's Westminster Bank Review, British Economist Christopher W. McMahon, 34, enters upon "a longish look backwards and forwards" at the U.S. economy—and his foreign view proves that in economics as in a fast-moving football game, things often look different to the spectators than...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!