Economy

Yes, We Can Do Stimulus Without Adding Debt. Here’s How.
August 29, 2011

This article is a contribution to 'Is There Anything That Can Be Done? A TNR Symposium On The Economy.' Click here to read other contributions to the series. There are two facts about our current economic situation that can no longer be denied: Our economy is in desperate need of government stimulus, and our political system won’t abide any increase in our national deficit. Taken together, the two points seem to bode poorly for the United States. But we shouldn’t be too quick to assume a contradiction.

Let’s Not Draw Broad Conclusions From the Stock Market Turmoil
August 27, 2011

This article is a contribution to 'Is There Anything That Can Be Done? A TNR Symposium On The Economy.' Click here to read other contributions to the series. Most adults know that there is no Santa Claus. They should also know that there was no stock market crash associated with Standard and Poor’s downgrade of U.S. government debt. However, because powerful interests want to spread misinformation about the downgrade, people are likely to be much better informed about Santa Claus.

A Former Clinton Official on How Obama Isn't Doing Enough for the Economy
August 26, 2011

This article is a contribution to 'Is There Anything That Can Be Done? A TNR Symposium On The Economy.' Click here to read other contributions to the series. The persistent sluggishness of the recovery here in the United States and in most of the world’s advanced economies should underscore a stark lesson from economic history: Systemic financial crises are the products of deep economic problems, and they can’t be solved by simply treating the after-effects of slow growth.

Obama’s Got Plenty of Options to Right the Economy—He’s Just Got to Fight for Them
August 24, 2011

This article is a contribution to 'Is There Anything That Can Be Done? A TNR Symposium On The Economy.' Click here to read other contributions to the series. Here’s the policy reality facing the president: The economy is stuck in the mud and the American people are losing faith that policy makers can do anything about it. As long as GDP growth is persistently below trend—trend being around 2.5 percent—the unemployment rate won’t be going anywhere good anytime soon.

What’s So Bad About a Slow Economic Recovery?
August 23, 2011

This article is a contribution to 'Is There Anything That Can Be Done? A TNR Symposium On The Economy'. Click here to read other contributions to the series. Between the ugly political standoff in Congress over the debt ceiling and the wild fluctuations of the stock market, it has been a tumultuous last few months in the United States. The Eurozone countries, for their part, aren’t faring any better, facing an angry public, bailouts, and an uncertain future for monetary union. And yet, despite the gloom on Wall Street and elsewhere, many fundamental aspects of the U.S.

Let’s Be Honest: We’re in a Depression, Not a Recession, And There’s No End In Sight
August 23, 2011

This article is a contribution to 'Is There Anything That Can Be Done? A TNR Symposium On The Economy.' Click here to read other contributions to the series. If the notion that we are merely living through the aftereffects of a mere “recession” that ended in 2009 sounds somewhat ridiculous, that’s because it is. If we were being honest with ourselves, we would call this a depression.

There’s No Shortage of Work. There’s a Shortage of Workers.
August 22, 2011

FROM THE ARCHIVES: Turns out there isn't a shortage of work, just a shortage of workers.

Is There Anything That Can Be Done?
August 22, 2011

Perhaps the most remarkable aspect of America’s current economic crisis is its persistence. The problems that began in 2007 with the collapse of the sub-prime housing market—a market that few in the world had previously heard of—are still burdening us today. And it’s not yet clear whether our national economic stagnation, high-levels of unemployment, and rising political polarization are going to dissipate anytime soon. Considering the extraordinary nature of our economic situation, we’ve decided to go in search of extraordinary economic solutions.

Forget Bailouts and Stimulus. Let’s Think Small.
August 22, 2011

This article is a contribution to 'Is There Anything That Can Be Done? A TNR Symposium On The Economy'. Click here to read other contributions to the series. Various flashy stimulus packages—whether through the spending measures typically advocated by Democrats or the tax cuts regularly pushed by Republicans—remain a constant and tired refrain in our political debate. But if programs like George W. Bush’s 2001 tax cuts and Barack Obama’s Recovery Act tend to dominate the news, in the long run our living standards are determined by the compounded effect of productivity growth over decades.

Want to Fix the Economy? Start With Social Security.
August 22, 2011

This article is a contribution to 'Is There Anything That Can Be Done? A TNR Symposium On The Economy'. Click here to read other contributions to the series. With millions of Americans out of work, a mounting federal debt, and the national economy at risk of a renewed recession, no one seems to be thinking about the Social Security system at the moment. But they should be. Fixing Social Security—that is to say, restoring the program’s actuarial balance—would serve our economic needs in a number of ways.

Pages