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barry eichengreen

As monetary policy reaches its limits, it's time for governments to spend (tags)

With interest rates so low, governments should borrow to invest in research, education, and infrastructure. Productive public investment would also enhance the returns on private investment, encouraging firms to undertake additional projects.

Will the Great Depression Be Repeated? (tags)

Global trade fell 30 percent three years after the crash. The US gross domestic product shriveled 40 percent. In 1932, every fourth American was without a job. In Germany, industry only produced half of what was produced three years before.

The Underrated Danger (tags)

In the US, people have lived above their means for years and now must permanently lower their living standard. In America as in Europe, economists expect a tremendous rise in unemployment in the fall. This does not mean people will shop more.

Lessons from the Great Depression: Christina D. Romer (tags)

This paper was presented at the Brookings Institution Washington D.C. March 9, 2009. Christina Romer, economics professor at Berkeley, is one of President Obama's economic advisers in the Council of Economic Advisers.

A Hundred and Fifty Years Later and Marx Still Prevails (tags)

Marx Was Right But Don’t Tell Them

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