| Summary/Abstract |
IN THE first decades of the 21st century, the US experienced several major socioeconomic shocks - primarily the so-called great recession of 2008-2009, the most destructive cyclical crisis after the Great Depression of the late 1920s and early 1930s; the cyclical crisis of 2020, which coincided with the COVID-19 pandemic and had a fairly negative impact on the US economy and revealed its weaknesses; and finally, inflation, which in 2022 hit 8% for the first time in 40 years.
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