Out Takes: The financial history of financial panics

You’ve probably heard our recession compared to the financial crisis of the 1930s. But in today’s out take, we’re talking to Scott Nelson, a professor of History at the College of William and Mary in Williamsburg, Virginia, who is researching the history of financial panics. He says that our current crisis has more in common with the so-called ?Long Depression? that began in 1873, than the ?Great Depression? of the 1930s. Since we’ve never heard of the ?Long Depression? we asked Mr. Nelson to explain.