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J. Bradford DeLong

J. Bradford DeLong, a former assistant secretary of the US Treasury, is professor of economics at the University of California at Berkeley and a research associate at the National Bureau for Economic Research.

Latest entries

Re-capturing the Friedmans
Comment
Posted May 7, 2012

BERKELEY – On my desk right now are reporter Timothy Noah’s new book The Great Divergence: America’s Growing Inequality Crisis and What We Can Do about It and Milton and Rose Director Friedman’s classic Free to Choose: A Personal Statement. Considering them together, my...

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The shadow of depression
Comment
Posted April 1, 2012

BERKELEY – Four times in the past century, a large chunk of the industrial world has fallen into deep and long depressions: the US in the 1930s, Western Europe in the 1930s, and again in the 1980s, and Japan in the 1990s.

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The usual suspect
Comment
Posted February 29, 2012

BERKELEY – Across the Euro-Atlantic world, recovery from the recession of 2008-2009 remains sluggish and halting, turning what was readily curable cyclical unemployment into structural unemployment. And what was a brief hiccup in the process of capital accumulation has turned into a...

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Neville Chamberlain was right
Comment
Posted January 31, 2012

BERKELEY – Neville Chamberlain is remembered today as the British prime minister who, as an avatar of appeasement of Nazi Germany in the late 1930’s, helped to usher Europe into World War II. But, earlier in that fateful decade, relatively soon after the start of the Great...

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America’s financial leviathan
Comment
Posted December 30, 2011

BERKELEY – In 1950, finance and insurance in the United States accounted for 2.8% of GDP, according to US Department of Commerce estimates. By 1960, that share had grown to 3.8% of GDP, and reached 6% of GDP in 1990. Today, it is 8.4% of GDP, and it is not shrinking.

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