After deep confusion, elements of agreement are emerging. Official economists and investors in different countries that have been affected in different ways by the crisis agree on some points.
Wednesday's economic forecast from the Organisation for Economic Co-operation and Development expressed the emerging orthodoxy as well as any.
Anyone reading a year ago what the OECD had to say would have been horrified. It said the nadir for the developed world had not been reached and a recovery would be so weak that unemployment in the US and western Europe would exceed 10 per cent and stay there.
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