aggregate demand

1 min read 2021-11-25 09:26:37

“Inflation is bad. But mass unemployment would have been worse.”

(Lauren Melodia and I had an op-ed in the Nov. 21 Washington Post, challenging the idea that today’s inflation means that the stimulus measures

1 min read 2021-09-01 00:14:02

Today's links Inequality, not gerontocracy: Who killed interest rates? Monopoly power and political corruption: Starve the (corporate) beast,

1 min read 2021-07-22 21:41:48

Mike Konczal, Lauren Melodia and I have a new report out from the Roosevelt Institute, on what true full employment might look like in the United

1 min read 2021-05-23 07:37:56

Here’s the very short version of this very long post: Hysteresis means that a change in GDP today has effects on GDP many years in the future. In

8 min read 2020-12-30 05:05:27

You’d think Larry Summers would know better. Not that he stepped in it, again, but rather why he did this particular time. Making a big deal out of

5 min read 2019-12-07 06:46:59

It wasn’t actually Keynes who coined the term “pump priming”, though he became famous largely for advocating for it. Instead, it was Herbert

1 min read 2019-06-07 22:28:59

(Cross-posted from the Roosevelt Institute blog. I am hoping to start doing these kinds of posts on new economic data somewhat regularly.) On Friday,

1 min read 2019-01-04 11:35:51

(Cross-posted from The Next New Deal at The Roosevelt Institute.) At its December meeting, the Federal Reserve raised its benchmark interest rate a