Bernanke’s ‘Great Moderation’ is not over
Fed Chairman Ben Bernanke coined the phrase “the Great Moderation” back in 2004 to refer to the relative stability of the U.S. economy over the previous two decades. Many believe “The Great Recession” of the past two years has jolted the economy out of its moderate mode and back into a state of high volatility. Washington University in St. Louis economist James Morley disagrees. He argues the Great Moderation is alive and well and will help the economy recovery from this latest financial shock.
Don’t blame free trade for a weak economy
Even though the benefits of free trade outweigh the harm, the subject has not garnered a lot of attention during this year’s election cycle. WUSTL business professor Jim Little discusses why it is important for Congress to liberalize trade and the dangers of embracing stricter policies.
Milton Friedman remembered as giant among 20th-century economists
Costas Azariadis, professor of economics in Arts & Sciences at Washington University in St. Louis, comments on the passing of Milton Friedman, a path-breaking conservative economist who passed away Nov. 16 at age 94.