“The Great Recession will have a permanent impact on economic behavior of those who were touched by it. It changed people’s understanding of how volatile things can be in a market economy. With updated beliefs about volatility and the reduction in wealth that occurred, rational people had to adjust behavior and become more cautious than they had been previously. This, in turn, influences consumption, saving and investment decisions.”
~Mike Knetter, economist and president of the University of Wisconsin Foundation in Madison.
Read the entire BizTimes Milwaukee cover story by Steve Jagler: Forever wary.
