The Great Recession seems to be creating a New Interventionist Economics characterized by bubbles, radical uncertainty, animal spirits, complexity dynamics, and extra-market control. When placed in that order, these characteristic create the acronym BRACE. We review some evidence and literature pointing to BRACE economics and briefly suggest some avenues to challenge the new interventionists.The full version is available via SSRN.
Sunday, March 28, 2010
Working Paper: BRACE for the New Interventionist Economics
Roger Koppl and I have a new working paper. Here's the abstract: