Recessions and Recoveries

Preview:

America’s response to the economic crisis that followed the bursting of the housing bubble has been based on economic theories that were discredited in the 1970s, and has ignored the lessons of the prosperous decades of the 1980s and 1990s. If we are to restore our economy to growth, it is important that we understand not just how to avoid the cataclysmic mistakes of the early 1930s but also how to avoid the stagnation of the 1970s and encourage the type of growth we experienced from 1983-2000. Recent history contains a shining example of how to kick-start a stagnant economy. We ought to learn from that example.

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