feature ECONOMIC RECOVERY LOOK LIKE? S T O R Y B Y J O S E P H E . ( J E B ) B U R N S I D E WHAT WILL ow do you characterize the ongoing economic downturn? Some refer to it as the Great Recession while New York Times columnist and Nobel Prizewinning economist Paul Krugman prefers the term “Lesser Depression.” 42 avionics news H • Economist Tyler Cowen calls the current economy the “Great Stagnation.” Which label you prefer might depend on your worldview, but one thing is certain: The economic downturn that began in late 2007 and accelerated in September 2008 is still with us. february 2012