Another ‘recovery summer,’ another bust

Another ‘recovery summer,’ another bust

We are now in the fourth or fifth consecutive “recovery summer,” and a sustainable level of growth for the American economy is as elusive today as it was during the prior recovery summers. There are many reasons why the economy is not growing as it should after the theoretical end of the Great Recession, and for many small entrepreneurs, this recession has yet to end.

In the 35+ years that I have worked in the architectural profession, including 23 years as a firm partner, I have experienced several recessions including the late seventies to early eighties, early nineties, post-9/11, and post-2007. The Great Recession has been deeper and longer-lasting for many reasons, particularly the housing bubble and subsequent bank failures, which have resulted in a systematic tightening of available capital, which is the “fuel” required to grow an economy.

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