Title

What Did We Learn from the Financial Crisis, the Great Recession, and the Pathetic Recovery?

Author(s)

Alan S. Blinder Alan Blinder (Princeton University)

Abstract

This paper comes in three parts. Part 1 reviews a few pertinent facts about the stunning economic events that have occurred in the United States (and elsewhere) since 2007. I choose these particular facts from among many for their relevance to the rest of the paper. The next two parts take up, first, some of the key lessons that we professional economists should have learned from the crisis and its aftermath and, second, some important lessons for teaching economics--especially but not exclusively macroeconomics. The two categories of lessons overlap a bit. But is it perhaps surprising how different they are.

Creation Date

2014-11

Section URL ID

Paper Number

243

URL

https://gceps.princeton.edu/wp-content/uploads/2017/01/243blinder.pdf

File Function

Jel

A11, A22, E32, E43, E44, E52

Keyword(s)

recession

Suppress

false

Series

3