By the start of 1948, there could no longer be any doubt: the Great Depression wasn't coming back. Instead of collapsing at
In a recent Bloomberg column, former New York Fed President Bill Dudley echoes a conventional Fed narrative, contrasting Fed interest rate cycles
First, let’s clarify the object of the discussion. If we define "money" the way that economists usually do, to mean any “commonly
Senator Rob Portman (R-OH), the ranking member of the Senate Homeland Security and Governmental Affairs Committee, released a new minority staff report
In assessing the possibility that a severe downturn occurred at the end of WWII, I took issue with conventional wartime and postwar
It was supposed to be a debacle. As the Second World War drew to a close, the nation's leading economists feared that, once
But the crisis that gave Keynesians the upper hand also proved fatal to the Roosevelt administration's more ambitious plans, Keynesian or otherwise.