Steven Fazzari


Bert A. and Jeanette L. Lynch Distinguished Professor of Economics, professor of sociology

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Fazzari’s research explores two main areas: the financial determinants of investment and R&D spending by U.S. firms and the foundations of Keynesian macroeconomics. A recent search found more than 1,100 citations to Fazzari’s publications in the Research Papers in Economics database (over 5,000 in Google Scholar). In addition, his research and commentary on public policy issues has been highlighted in the national media. Among other current research projects, Fazzari is now co-editing a book that investigates the sources and responses to the U.S. “Great Recession” that began in late 2007.

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Breaking down the American Rescue Plan

Breaking down the American Rescue Plan

The American Rescue Plan is a remarkable effort to jump-start the U.S. economy — unprecedented in scale outside of major wars — and will lead to very fast growth of the U.S. economy over the next year, according to Steven Fazzari, director of the Weidenbaum Center on the Economy, Government and Public Policy.
We need economic rescue, and we need it now 

We need economic rescue, and we need it now 

After months of failed negotiations that have left many Americans, businesses and the economy in the lurch, lawmakers are scrambling to reach a deal on an economic stimulus plan that could top $900 billion. If Congress passes the deal, will it do enough to help struggling Americans and businesses stay afloat? To answer that question, three business and economics experts at Washington University in St. Louis shared their thoughts on the proposed plan, what lawmakers got right, what is missing and what ticking time bombs remain.
Brace yourself for some really bad economic news

Brace yourself for some really bad economic news

The coronavirus relief act addresses some critical needs but remains more focused on “rescue” than economic “stimulus.” Additional federal intervention may very well be necessary, and soon.
Federal package ‘not enough’

Federal package ‘not enough’

The $2 trillion plan to prop up a pandemic-reeling United States, amid the news that there were 3.3 million unemployment claims lodged in the previous week, is expected to pass the House on March 27. An array of Washington University in St. Louis experts offer perspectives on the plan.
Symposium explores the rise of Donald Trump, March 9

Symposium explores the rise of Donald Trump, March 9

“American Democracy and the Rise of Donald Trump” will be the focus as faculty experts in history, political science, sociology, law, economics and psychology gather for a public symposium from 1-4 p.m. Thursday, March 9, in Room 100 of Brown Hall, on the Danforth Campus of Washington University in St. Louis.

Fazzari to chair new sociology department in Arts & Sciences

Steven Fazzari, PhD, a leading scholar on the relationship between rising income inequality and macroeconomic trends in the United States, will be chair of the recently re-established Department of Sociology at Washington University in St. Louis, Barbara A. Schaal, PhD, dean of the Faculty of Arts & Sciences, has announced.
Target: Shared prosperity

Target: Shared prosperity

In “Economic Realities of the American Dream,” professors Steven Fazzari and Mark Rank examine the ­American Dream’s historical meaning, the ­traditional pathways to reach it, the current obstacles to achieving it and its viability in the future.

Steven Fazzari to be installed as the Bert A. and Jeanette L. Lynch Distinguished Professor

Steven Fazzari, PhD, will be installed as the Bert A. and Jeanette L. Lynch Distinguished Professor in a ceremony on Monday, April 21. He is the first  to receive this distinction in the Department of Economics, thanks to the generosity of the Lynches, who have provided for a total of three new professorships. The other two are named in honor of Douglass C. North, PhD, and the late Murray L. Weidenbaum, PhD.; these appointments will be made at a future date.

The American dream still possible, but more difficult to achieve, students discover

In a modern society struggling to loose the grip of a lengthy economic recession, is the American dream really attainable? The dream may still be possible, though much more difficult to achieve, say a renowned macroeconomist and one of America’s foremost experts on poverty, co-teachers of a course on the American Dream this semester at Washington University in St. Louis.

Exploring the American Dream

What is the American Dream’s role in today’s society? Experts from Washington University in St. Louis will explore this question in a panel discussion at 4:30 p.m. Wednesday, April 18, in Brown Hall Lounge on the Danforth Campus. Panelists are Steven Fazzari, PhD, professor of economics in Arts & Sciences; Carter W. Lewis, playwright-in-residence in the Performing Arts Department in Arts & Sciences; and Mark R. Rank, PhD, the Herbert S. Hadley Professor of Social Welfare at the Brown School.

Dissecting the Great Recession

The United States is slowly climbing out of one of the worst economic recessions in its history. As the economy slowly begins to turn a corner, Stephen M. Fazzari, PhD, professor of economics in Arts & Sciences, will examine how we got here and where we are headed in a series of three lectures beginning Jan. 30.

WUSTL experts comment on debt ceiling debate

Discussion of the federal debt ceiling has dominated the front page recently. Several Washington University in St. Louis faculty experts, all members of the Weidenbaum Center on the Economy, Government, and Public Policy, have offered their opinions to the news media on the history of the debt ceiling and what may happen if a deal is not reached.

Financial meltdown: causes, consequences and cures

The recent meltdown in financial markets around the world, government rescue plans and the future of the global economy will be the focus of an international panel of economic experts Friday, Oct. 17, 2:30 p.m., at Washington University in St. Louis. Free and open to the public, the event will be held in the Lab Sciences Building, Room 300 on the Danforth Campus.

A “Minsky moment”

FazzariWUSTL economist Steven Fazzari, Ph.D., argues that we have now reached the “Minsky moment,” the time when an unsustainable financial boom turns to bust. “The serious consequences for employment and economic growth in this crisis can be mitigated, but not eliminated, by the defensive financial bailouts that the federal government has initiated,” Fazzari says.

WUSTL economist Fazzari to discuss consumer impact on current crisis

FazzariFazzari, Ph.D., professor of economics and associate director of the Weidenbaum Center on the Economy, Government, and Public Policy in Arts & Sciences, will discuss the conditions that have contributed to the economic turmoil, and share his research regarding what’s in store for the future in his Assembly Series presentation, “The U.S. Economy in the Consumer Age.” His conclusion will cover a discussion of how, if at all, the major policy steps proposed by the presidential candidates address the deepening recession. The event, free and open to the public, will be held at 4 p.m. Wednesday, September 24, in the Women’s Building, Formal Lounge.

Subprime problems signal trouble ahead, research shows

Mortgage woes could get worse thanks to easy credit.If it seems as though sub-prime mortgage loans stirred up trouble in the financial markets, just wait until debt problems spill over onto household spending. America’s love affair with spending could trigger the most severe downturn in economic activity seen since at least the 1980s — and possibly since the Great Depression.

Challenges for dollar, euro in global economy is focus of St. Louis conference, May 25

What challenges does globalization present for industrialized economies, such as the United States and the European Union? How will fluctuations in dollar and euro exchange rates affect economic growth, inflation and interest rates? Will globalization influence the role of the dollar and the euro in international financial systems? These are a few of the questions to be explored May 25 as high-ranking international finance policymakers from the European Union and the United States join scholars for a conference on “The Euro and the Dollar in a Globalized Economy” at Washington University in St. Louis.