In the great economic battle of the past decade, the winner is the tried and true — in a rout. After the 2008 financial crisis, old-fashioned Keynesians offered a simple fix: Stimulate the economy. With idle capacity and unemployed workers, nations could restore economic production at essentially zero real cost. It helped the U.S.
Topics: or because of a keynesians alberto alesina silvia ardagna carmen reinhart kenneth rogoff excel alesina reinhart european michael boskin john cogan niall ferguson kevin hassett douglas holtz-eakin bill kristol john taylor chair ben bernanke bernanke tyler cowen robert gordon the great stagnation the rise fall american growth boskin cogan gorden barack obama's state union bill mcbride keynesian keynes u.s great depression great recession ardagna rogoff obama as bernanke cowen american fed courtesy st louis fed policy mistake decade labor inflation workers economy economic due participation force crisis argument structural stimulus austerity shortage wage arguments economists supposed percent problems trends gap years unemployment skills production essentially forces problem work evidence conservative hyperinflation trigger debt demographic kind scarce fix capacity related unemployed jobs firms financial innovation program real wrote major dads stay-at-home spending early trend taxes papers collapse late worse wages terms output declining prime fell countries cultural working-age
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