Good point about the global market. Another factor is the decreasing % of industrial / factory jobs in American industry. Swings in factory industries are more sudden and harder to correct than swings in service industries, I think.

And yes, modern economic recessions have been slower to correct, but I disagree with the overall conclusion. I think the length of correction has more to do with the sheer size and growing complexity of the increasingly global market. In decades past, America could correct without having to worry quite as much about what other nations did (or thought).

Selfish though it may be, in dealing with economic recovery, I think we need a fairly strenuous “America first” policy, instead of trying to fix everything at once.