It really IS different this time.

by Arlin Wasserman 18. June 2009 08:00


It’s different this time. That’s what most of the pundits have been saying about the current economic crisis. Why it’s different is still up for debate. Maybe it’s how it began or, of more interest to most of us, how it will end. It could be a “U” or a “V” with a relatively quick recovery, or a “W” or an “M” with a second bounce up or down. Whatever the reason, this time it’s different. I’m the child of parents who were part of the Greatest Generation, and who lived through the Great Depression.

Ironically, I was born just a handful of weeks before Sodexo first started business in France. And, along with Sodexo, I have lived through a handful of economic downturns. Some were short and sharp while others lasted longer. A few have been severe enough to be called a recession.

In those past downturns, whenever the economy started to decline, business and industry have regularly called for loosening environmental and health protections as one way to provide some stimulus. And lawmakers would just as regularly respond with proposals to provide temporary waivers or roll back regulations. 

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