Will the 2020 Economic Crisis Turn into a Great or Greater Depression? A One Minute Perspective @OneMinuteEconomics

Uploaded May 2020 | Updated September 2026, 1 hour ago

More and more people are worrying about the 2020 economic crisis to such a degree that they believe a Great Depression or even a Greater Depression is just around the corner. On the opposite end of the spectrum, there are those who downplay the economic implications of what has happened and is happening in 2020, believing that things will get back to normal as soon as economies are re-opened properly.

Which "side" is right about the 2020 economic crisis?

Unfortunately, it's time to yet again resort to one of the most honest but at the same time unpopular answers in the world of economics: we just don't know.

As such, the best thing we can do is analyze both extremes (from Great/Greater Depression to optimistic scenarios) and everything in-between so as to put together a plan that enables us to land on our feet under a wide range of scenarios.

At this point in time, what we do know is that yes, we are in an economic crisis framework in 2020 and that no, a Great or Greater Depression do not represent impossible scenarios. But just how probable are they? Let's find out... in one minute, of course :)

Will the 2020 Economic Crisis Turn into a Great or Greater Depression? A One Minute Perspective

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