If you’d asked somebody 100 years ago, “How’s the economy doing?” they wouldn’t have known what you were talking about. At the time, people talked about things like banking panics, and national wealth, and trade. But, according to Zachary Karabell, this thing we call the economy — this thing that we constantly measure with specific numbers — wasn’t really invented until the 20th century.
Source: wbur.org
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