This paper comments on the experience of the U.S. economy in the 1930s, its lessons for managing the current economic downturn, and the relation of U.S. economic conditions to our future national security. Some of the conclusions are: (1) Although the current recession will be long and very...

This paper examines the four most important potential economic crises that the United Stares fared in the 1980s in order to see what lessons can be drawn, individually and collectively, from these experiences: (1) the-developing country debt crisis; (2) the 1907 stork marker crash; (3) failures...

The first two years of the economic expansion that began in 1983 were unusually strong and were accompanied by better inflation performance than would have been expected on the basis of experience in past recoveries. Our evidence contradicts the popular view that the recovery was the result of a...