Some analysts believe that what the economy is going through right now is not just a recession; rather, it is what might be called a “recalibration,” or “recalculation,” or “reset,” involving major changes in the overall structure of the economy.
When that happens — as during the Great Depression, when agriculture’s share of the economy experienced a secular decline — some jobs and industries disappear forever, eventually replaced by others.
That said, unless the United States is heading down the banana republic route, I’m not sure the shift detailed in the following USA Today report, “Lobbying Industry Booms in Recession,” gives us much insight on what the future holds.
Or does it?
