The Great Recession devastated local labor markets and the national economy. Ten years later, Berkeley researchers are finding many of the same red flags blamed for the crisis: banks making subprime loans and trading risky securities. Congress just voted to scale back many Dodd-Frank provisions. Does another recession lie around the corner? IRLE Policy Brief
Tag: recession
Austerity as the New Normal: The Fiscal Politics of Retrenchment in San Jose, California
Across the world’s most industrialized economies, the financial crisis of 2007 caused a contraction of state budgets and stimulated attempts to reform debt-burdened governments. In the United States, a system of fiscal federalism meant this turn towards austerity took a uniquely fragmented and geographically diverse form. Drawing on case studies of recent urban restructuring, Cities under…
Why is recovery taking so long—and who’s to blame?
We are enduring one of the slowest economic recoveries in recent history, and the pace can be entirely explained by the fiscal austerity imposed by Republican members of Congress and also legislators and governors at the state level. EPI’s Josh Bivens examines the reasons beyond our slow economic recovery (one that has progressively slowed with…
Rich Man’s Recovery – NYTimes.com
I’m too jet-lagged to write much about this, and am coming late to the lively discussion over Saez & Piketty’s latest piece about rising income inequality. The dramatic rise in earnings and wealth inequality between the 1% and the rest of the country is important, and as Krugman says, demoralizing for most Americans. But there’s…
“Cities Facing Worst Fiscal Situation Since 1980”
The Pew Charitable Trust report, outlining the bleak context in which I’m trying to devise a dissertation research strategy. 2012 looks to be one of the worst years in the cities I’m studying since the early 2000s. City officials and the vast majority of workers are deeply entrenched in an ongoing recession, despite the fact that…