New Preface to Charles Kindleberger, The World in Depression 1929-1939

Charles Kindleberger’s classic book on the Great Depression was originally published 40 years ago. In the preface to a new edition, two leading economists argue that the lessons are as relevant as ever. The parallels between Europe in the 1930s and Europe today are stark, striking, and increasingly frightening. We see unemployment, youth unemployment especially, […]

Another Bad Employment Report: Brad DeLong Calls Recession

If I were on the NBER Business Cycle Dating Committee, I would call this a recession: The U-6 measure of unemployment–reported unemployed plus part-time for economic reasons plus marginally-attached workers all divided by the labor force plus marginally-attached workers–has risen by 1.1 percentage points in the past three months to its current level of 10.3 […]