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5/25/10 11:35 AM Where We Are Now, in Some Historical Perspective - Grasping Reality with Both Hands Page 1 of 5 http://delong.typepad.com/sdj/2010/05/where-we-are-now-in-some-historical-perspective.html Where We Are Now, in Some Historical Perspective The Semi-Daily Journal of Economist J. Bradford DeLong: Fair, Balanced, Reality-Based, and Even-Handed Department of Economics, U.C. Berkeley #3880, Berkeley, CA 94720-3880; 925 708 0467; [email protected]. Dashboard Blog Stats Edit Post
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5/25/10 11:35 AMWhere We Are Now, in Some Historical Perspective - Grasping Reality with Both Hands
Page 1 of 5http://delong.typepad.com/sdj/2010/05/where-we-are-now-in-some-historical-perspective.html
Grasping Reality with Both HandsThe Semi-Daily Journal of Economist J. Bradford DeLong: Fair, Balanced, Reality-Based, and Even-HandedDepartment of Economics, U.C. Berkeley #3880, Berkeley, CA 94720-3880; 925 708 0467; [email protected].
Economics 210aWeblog ArchivesDeLong Hot on GoogleDeLong Hot on Google BlogsearchMay 01, 2010
Where We Are Now, in Some Historical Perspective
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5/25/10 11:35 AMWhere We Are Now, in Some Historical Perspective - Grasping Reality with Both Hands
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Brad DeLong on May 01, 2010 at 05:35 PM in Economics, Economics: History, Economics: Labor, Economics: Macro |Permalink
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5/25/10 11:35 AMWhere We Are Now, in Some Historical Perspective - Grasping Reality with Both Hands
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max said...Yep: it looks like we have finally gotten a solid rooted turnaround (GDP and Employment both improving), and now we justhave to avoid potholes and a double-dip.
It's 1974-75 on crack. (The timing of the Great Moderation certainly matches up well with low oil prices, doesn't it? And thedepths of this depression/recession certainly match well with exceedingly high oil prices. Almost makes you want to build lots ofsolar/wind/wave/nuke power plants.)
m, and now we're in 1975
Reply May 01, 2010 at 05:57 PMmax said...Huh. If I read the chart right, the Obama administration can now claim that Bush still owns responsibility for a majority of jobslost in the recession.
m, and now we're adding them on
Reply May 01, 2010 at 06:03 PMMemory said...
Huh... future's so bright, I gotta' wear shades. Since no other set of indices exists that might capture a different view of the livedexperience of this economic shock on millions of Americans, I guess we never had it so good.
Reply May 01, 2010 at 06:07 PMAntonio Conselheiro said...The asymptotic climb to zero growth is not encouraging.
Reply May 01, 2010 at 09:20 PMTax Lawyer said...Your first chart, on GDP growth--I'd like to see it super-imposed on U.S. household debt. I'd bet they track pretty closely. Ourso-called prosperity may very well have been simply a result of debt-driven consumer demand--incomes certainly haven'tboosted consumer purchases, which represent the lsrgest component of GDP. Also, a pet peeve of mine is that I HATE seeinggross GDP numbers without per capita conversions. With a growing population, they are misleading.
Reply May 01, 2010 at 09:32 PMpurple said...GDP is a weak indicator of wealth. You have to include distribution of GDP, and what parts of the calculation are encompassingsectors of the economy that existed before but were not commodified. The PRC's GDP is really much higher, for instance, if youcommodified aspects of the economy that are not now calculated as part of GDP.
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5/25/10 11:35 AMWhere We Are Now, in Some Historical Perspective - Grasping Reality with Both Hands
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Me: Economists:
Paul KrugmanMark ThomaCowen andTabarrokChinn andHamiltonBrad Setser
Juicebox Mafia:
Ezra KleinMatthew YglesiasSpencer AckermanDana GoldsteinDan Froomkin
Moral
Philosophers:
Hilzoy and FriendsCrooked Timber ofHumanityMark Kleiman andFriendsEric Rauchwayand FriendsJohn Holbo andFriends
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NEW Talk at Whitman College takes long view on economic woesWalla Walla Union-Bulletin - Apr 30, 2010A former deputy assistant secretary of the US Treasury and professor of economicsat the University of California at Berkeley, J. Bradford DeLong, ...Related Articles » « Previous Next »
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5/25/10 11:35 AMWhere We Are Now, in Some Historical Perspective - Grasping Reality with Both Hands
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