WASHINGTON -- Here's today's economic quiz: Was the 2007-09 Great Recession more damaging than the Great Depression of the 1930s? Surely the answer is "no." In the 1930s, unemployment reached 25 percent. By contrast, the recent peak in the jobless rate was 10 percent. Case closed.
Not so fast, objects economist J. Bradford DeLong of the ...Read more
WASHINGTON -- We aren't stagnating, after all.
Unless you've been hibernating in the Himalayas, you must know of the recent surge in economic inequality. It's not just that the rich are getting richer. The rest of us -- say politicians, pundits and scholars -- are stagnating. The top 1 percent have grabbed most income gains, while average ...Read more
WASHINGTON -- One lesson of the midterm elections is that economic growth is losing its power to unite the country and to reduce explosive conflicts over race, religion, ethnicity, immigrant status and sexuality. This is unfamiliar. Economic progress has been a routine part of our election narratives. The presumption is that a strong economy ...Read more
WASHINGTON -- President Trump and Congress face a mountain of unfinished business -- and chances are that most of it will stay unfinished.
Of course, no one knows what will happen, and the president and congressional leaders of both parties have made the usual noises about cooperation. "There are a lot of good things that we can do together," ...Read more
WASHINGTON -- We'll know soon who won the fiercely contested midterm elections, but we already know who lost: We all did. This election has been a referendum on President Trump, which suits both Republicans and Democrats just fine. Democrats are betting that the public has increasingly tired of Trump's lies and his vile style. Trump and his ...Read more
WASHINGTON -- Perhaps it was naivete, ignorance or stupidity -- or all three -- but when I was growing up in the 1950s in a suburb of New York City, I had no sense of anti-Semitism. By that, I do not mean that I looked around and found little evidence of anti-Jewish feeling. I mean that I had no concept of anti-Semitism. To me, it didn't exist. ...Read more
WASHINGTON -- The story of American capitalism is a contradiction. It has succeeded brilliantly in creating widespread material well-being; and yet, it has not satisfied a popular yearning for a society with less economic insecurity and more "fairness" and equality. Can the two faces of capitalism coexist? Or is one bound to triumph over the ...Read more
EDITORS: Please insert the attached table after the 3rd-to-last graf.
WASHINGTON -- Globalization strikes again. The latest target is entrepreneurship.
For decades, promoting startup firms through venture capital and other methods of business investment seemed a peculiarly American strength. It has nurtured countless tech firms, including ...Read more