During the current Great Recession, many observers have made references to the Great Depression, deflation in Japan in the 1990s, the Asian crisis of 1997?98, and other economic crises of recent decades. But what are the actual parallels that can be drawn and real lessons to be learned? This journal takes an in-depth look at these historical events and their relevance to the current crisis, with a particular focus on the labor markets and trade unions. The issue's final article makes clear-headed, insightful assessment of the state of labor at this stage of the Great Recession, and outlines the possible scenarios we can expect going forward.