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Most people have heard of the Great Stock Market Crash of October 1929. In the eyes of many historians, that stock market crash led to

Most people have heard of the Great Stock Market Crash of October 1929. In the eyes of many historians, that stock market crash led to the Great Depression of the 1930s. The stock market also crashed in October 1987 - indeed, in percentage terms, the crash of 1987 was much worse than the crash of 1929. In the days immediately after the crash of 1987, a group of 33 prominent economists from around the world met in Washington, D.C. and predicted that "the next few years could be the most troubled since the 1930s." But those economists were wrong. There was no Great Depression of the 1980s, nor even a great recession. What do you suppose happened to prevent a recession after the stock market crashed in 1987

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