The American people have endured eleven recessions since World War II ended in 1945-beginning with the 1948-49 recession and extending to the 2007-9 recession. This book highlights the
performance of the economy and the economic policy actions taken during the expansion period before the onset of each recession. Each of the eleven postwar recessions is analyzed to determine:
What weaknesses were showing during the preceding year and months before the onset of each recession? What economic policy actions did the Federal Reserve, the president, and the Congress take
during the expansion year preceding each recession? Economics writer Norman Frumkin points to persistent failures over the last sixty-two years of the Federal Reserve and the president to
forecast or to acknowledge the possibility of a future recession, which resulted in their not taking anticipatory corrective action that would have avoided or lessened the severity of
recessions. The book, with its case study approach and use of real time data, concentrates on preventing recessions and lessening their impact, not on curing recessions once they have started.
