DeLong: The Knife's-Edge Economy
Posted on August 06, 2008
How many more DeLong Units will we have to wait until we know whether the global economy will right itself or begin a downward spiral ?:The Knife's-Edge Economy, by J. Bradford DeLong, Project Syndicate: Since 2003, I have been saying that the global economy is badly unbalanced and vulnerable to a macroeconomic catastrophe that would yield one of the worst episodes of economic distress of modern times. Since 2004, I have been saying that the situation, once it started, would probably become clear within a year: we would know whether the global economy would right itself or begin a downward sp...
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