What did we learn from the financial crisis, the great recession, and the pathetic recovery?

This article comes in three parts. Part 1 reviews a few pertinent facts about the stunning economic events that have occurred in the United States (and elsewhere) since 2007. The author chose these particular facts from among many for their relevance to the rest of the article. The next two parts ta...

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Bibliographic Details
Published in:The Journal of economic education 2015-04, Vol.46 (2), p.135-149
Main Author: Blinder, Alan S.
Format: Article
Language:English
Subjects:
Competition
CONTENT ARTICLE IN ECONOMICS
Deception
Difficulty Level
Economic Change
Economic crisis
Economic Development
Economic Impact
Economic Progress
Economic recovery
Economics Education
Educational Practices
Erholung
Experiential learning
financial crisis
Financial Policy
Financial Problems
Finanzwirtschaft
Incentives
Krise
Lehren
Macroeconomics
Moral Issues
Rezession
Schulbuch
Studies
teaching economics
Teaching Methods
the Great Recession
Ökonomie
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Summary:This article comes in three parts. Part 1 reviews a few pertinent facts about the stunning economic events that have occurred in the United States (and elsewhere) since 2007. The author chose these particular facts from among many for their relevance to the rest of the article. The next two parts take up, first, some of the key lessons that professional economists should have learned from the crisis and its aftermath and second, some important lessons for teaching economics (especially but not exclusively macroeconomics). The two categories of lessons overlap a bit, but it is perhaps surprising how different they are.
ISSN:0022-0485
2152-4068
DOI:10.1080/00220485.2015.1015190