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"The idea that an expanding economy implies that all industries must be simultaneously expanding is a profound error. In order that new industries may grow fast enough it is usually necessary that some old industries should be allowed to shrink or die."

- Henry Hazlitt (Economics In One Lesson)
Home The News Miscellaneous World Bank: Global Economy Will Shrink in 2009
World Bank: Global Economy Will Shrink in 2009
News - Miscellaneous
Written by VOA News   
Monday, 09 March 2009 07:06
Voice of America - The World Bank says it believes the global economy will shrink in 2009, for the first time since World War II.

In a paper released Sunday, the bank also said it expects world trade to fall by the largest amount in 80 years, with the sharpest losses in Asia.

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