Fight of the Century
According to the National Bureau of Economic Research, the Great Recession technically ended in the summer of 2009. Yet in the years that have followed, GDP growth has been anemic, and job growth has been the slowest of any recovery since the Great Depression. What have we learned about the boom and bust since Keynes’ and Hayek’s first rap battle, Fear the Boom and Bust? Where should we head from here? Is that question even meaningful? Can the government steer the economy, or have past attempts helped create the mess we’re still in?