*Recession*, by Tyler Goodspeed – Marginal REVOLUTION


The subtitle is The Real Reasons Economies Shrink and What To Do About It.  Here is from the book’s summary:

Contrary to popular perception, recessions are not the inevitable bust that follows an unsustainable boom, and they do not operate like wildfires that clear out economic deadwood. Recessions are caused by adverse shocks like war and energy price spikes; and far from unleashing gales of creative destruction, post-recession economic growth typically resumes the same trend as before—all pain, no gain.

The book covers American history and focuses on verbal exposition of the theory, not mathematics.  Overall, Goodspeed provides an underrated perspective in an era where 2008-2009 led people to become overly obsessed with issues of aggregate demand.  Our current presidency may be curing this however!




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