To the Editor of the New York Times:
Re “When Will the Recession Be Over?” (Op-Ed, March 1):
Thank you for the wonderful collection of views on the timing of the recovery. While views differ on the timing of the recovery, no one questioned that a recovery is possible. This is largely because the current crisis is based on financial problems, the most superficial aspect of the economy.
How different it might be or will be (depending on what we do now) when we have a crisis based on the most foundational aspect of the economy, the ecosystem. When productivity falls not because of lack of credit or consumer confidence but because of reaching the earth limits of natural resources and ecosystem services, including climate stability, the question will not be when will the economy recover. We will be adjusting to a new reality.
We are wise to direct our resources to get out of the current crisis to prevent the next crisis, which could be more profound and far longer, if not eternal.
Maggie Winslow
El Cerrito, Calif., March 2, 2009
The writer is a professor of economics at the Presidio School of Management.
Re “When Will the Recession Be Over?” (Op-Ed, March 1):
Thank you for the wonderful collection of views on the timing of the recovery. While views differ on the timing of the recovery, no one questioned that a recovery is possible. This is largely because the current crisis is based on financial problems, the most superficial aspect of the economy.
How different it might be or will be (depending on what we do now) when we have a crisis based on the most foundational aspect of the economy, the ecosystem. When productivity falls not because of lack of credit or consumer confidence but because of reaching the earth limits of natural resources and ecosystem services, including climate stability, the question will not be when will the economy recover. We will be adjusting to a new reality.
We are wise to direct our resources to get out of the current crisis to prevent the next crisis, which could be more profound and far longer, if not eternal.
Maggie Winslow
El Cerrito, Calif., March 2, 2009
The writer is a professor of economics at the Presidio School of Management.