Category Archives: Slow Recovery

I have been arguing that economic policy–in particular policy unpredictability or uncertainty–has been a factor in the slow recovery.  That’s the main theme of the book I edited with Lee Ohanian and Ian Wright. A chapter by Scott Baker, Nick … Continue reading →

The June employment report released last Friday marks the 48th month of recovery from the recession which ended back in June 2009.  We should be pleased that more jobs were created this June, but the disappointing fact is that job … Continue reading →

As the economic recovery has remained weak well into its fourth year, some Washington policy makers have increasingly been blaming cuts in government spending, with much of their finger pointing at state and local governments where purchases of goods and … Continue reading →

Last Friday’s employment report revealed little sign of a lift off of the employment to population ratio.   It’s the same as it was in May of last year—58.6 percent. Employment grew by about 1 percent (or 1.6 million) over the … Continue reading →

In a recent “chart cast” video posted on YouTube, Russ Roberts interviewed Ed Leamer of UCLA on why the recent economic recovery has been so weak.  Ed’s list of causes differs a lot from mine, which Russ discussed with me … Continue reading →

The updated charts below incorporate last Friday’s release of the first quarter GDP data.  They continue to tell the story of a weak recovery which, in my view, is largely due to ineffective government policy interventions.  There is, of course, … Continue reading →

The data released last week generated a lot of news stories, first bad ones about the GDP numbers and then good ones about the employment numbers. When you put the numbers in perspective, however, the economic story is little changed from … Continue reading →

In his inaugural address, President Obama said that “An economic recovery has begun.” It was an applause line. The line is correct of course, but it is really nothing to applaud.  As economists define it, the recovery began nearly four … Continue reading →

As the presidential election campaign reaches its final crucial hours, the main issue remains the economy—unemployment, jobs, growth—and what the economic policy can do about it. Campaigning in Ohio and other swing states, President Obama says his policies have meant … Continue reading →

In his article “A Slow but Steady Climb to Prosperity” in today’s Wall Street Journal, Alan Blinder argues that “The U.S. economy is improving.” I wish he were right, but the data—even much of the data he mentions—do not support … Continue reading →