The Great Recession (or the Great Hangover) that began in 2008 did not have to happen. Its causes and consequences are not mysterious. Indeed, this particular and very painful episode affirms what the best nonpartisan economists have tried to tell our politicians and policy-makers for decades, namely, that the more they try to inflate and direct the economy, the more damage the rest of us will suffer sooner or later. Hindsight is always 20-20, but in this instance, good old-fashioned common sense would have provided all the foresight needed to avoid the mess we’re in.
Monday, December 7, 2009
The Untold Story of the Great Recession
Subscribe to:
Post Comments (Atom)
This comment has been removed by the author.
ReplyDeleteOh please. Eight years of Bush paying regulators while also telling them NOT do their job is more to blame, not to mention several decades of private industry buying political policies that benefit them. If private industry did the right thing without being enforced, we wouldn't be in this mess. Conservative economics is a joke.
ReplyDeleteSorry for deleted comment, huge mistake in first draft.