Category Archives: Slow Recovery
Can We Restart This Recovery All Over Again?
Andy Atkeson, Lee Ohanian and Bill Simon recently published a nicely-reasoned article about why the US economy can acheive 4% growth. They argue that with the right policies there is “far more room for the economy to rebound today than after … Continue reading
Other Economic Lessons the US Can Learn from Greece
Last week the Senate Foreign Relations Subcommittee on Europe and Regional Security Cooperation held a hearing for which I was asked to address the lessons that the United States can learn from the Greek financial crisis. One obvious lesson is … Continue reading
Growth Accounting for a Liberated Recovery
For several years I’ve argued that economic policy is holding the economy back and that a return to the principles of economic freedom would recreate a fast-growing recovery. It’s the subject of my book First Principles, of blogs and a … Continue reading
Liberate the Recovery
My piece in today’s Wall Street Journal “A Recovery Waiting to Be Liberated,” starts with data showing that economic growth last year was in the end disappointing again. So far this year it looks even worse: Macroeconomic Advisers one of … Continue reading
A Review of Recoveries in Contrast
I’ve been tracking the economic recovery with charts and commentaries on this blog since it began in 2009. The simplest but most revealing charts compared and contrasted this recovery with the recovery of the 1980s. Here’s an update of two … Continue reading
Across the Great Divide: New Perspectives on the Financial Crisis
A year ago today, the Hoover Institution and the Brookings Institution held an unusual joint conference on the financial crisis, where twenty-four economists and legal scholars reexamined the crisis, its effect on the US economy, and possible policy reforms. The … Continue reading
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The American Economy: Turtle or Caged Eagle?
Last week I was on a panel with Stanford President John Hennessy and Congressman Paul Ryan at the new Hoover Institution Offices in Washington. Al Hunt moderated the discussion which focused on policies to raise economic growth. The video is … Continue reading
Posted in Slow Recovery, Teaching Economics Leave a comment
New Research Bolsters Link from Policy Uncertainty to Economy
Some continue to blame the great recession and the weak recovery on some intrinsic failure of the market system, the latest supposed market failure being a so-called “secular stagnation” due to a dearth of investment opportunities and glut of saving. … Continue reading
Why Still No Real Jobs Takeoff?
For each month of this recovery, I’ve been tracking the change in the employment-to-population ratio and comparing it with the recovery from the previous deep recession in the 1980s. Here is the latest update based on today’s release of February … Continue reading
First Principles Versus Secular Stagnation
With real GDP and employment data now in for all of 2013, the recovery still looks about as weak as ever. Sure, it’s good news that growth picked up again in the 3rd and 4th quarter, but the three updated … Continue reading