GDP

  • 03.24.17

    Senator Bernie Sanders’ Economic Advisor Shreds Trumponomics

    In this article about a paper by Stephanie Kelton's on the current state of the economy after the 2008 recession and "recovery." The article and Kelton argue that "there may be no more room for economic recovery given the economy has reached its true employment potential, or as Kelton puts it, " output is near its...

    In this article about a paper by Stephanie Kelton's on the current state of the economy after the 2008 recession and "recovery."

    The article and Kelton argue that "there may be no more room for economic recovery given the economy has reached its true employment potential, or as Kelton puts it, ” output is near its full employment ceiling not because the economy rose to its potential but because we lowered the definition of what we believe our nation’s productive capacity to be. It’s a bit like giving up on the idea that your child is capable of achieving straight As, relaxing the goal to a 2.0 GPA, and then celebrating when he presents you with across-the-board Cs.”"

    The article is critical of some of the possible outcomes of the new administration's economic policies.