If the evidence that the recession is over is so clear, why are we still in “tough economic times,” as the hackneyed phrase has it? Why are there so many unemployed resources? Why are so many people out of work?
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A common question I hear is whether the recession is really over. The issue is “settled,” of course, by the the NBER’s declaration of the end of the recession in July 2009. Or is it?
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By the way, Schumpeter himself could not do math to save his life. So there's hope for all of us.
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Responsibility, temperance, sobriety, and thrift are hard virtues to acquire, which might explain why "recurring" debt crises are common: the same country will hog the headlines decade after decade.
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Mediocrity happens. At this very moment at an institution of higher education near you, a mildly hung-over student is finishing a mildly plagiarized paper on travel-industry marketing, for which he'll receive a B-plus. Across campus, an assistant professor is drafting a tepid scholarly article that will eventually be read by 43 people and cited by one.
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That's what the promoters of the Collegiate Learning Assessment think they have been promoting
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The main fear when speaking is "will I sound like an idiot. Will I be found out for the fraud, the ignoramous that I am." If you know exactly what you are saying, you won't be.
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I am Associate Professor of Economics and Chairman of the Department of Economics at Ave Maria University. I have been in the Economics Department since its beginning and have taught over fifteen different courses at Ave Maria University, particularly in the areas of macroeconomics, international economics, development economics, Catholic social teaching, economic history, and social philosophy. My two favorite courses to teach are Intermediate Macroeconomics and Markets, State, and Institutions.
My work is in the general area of international finance and open-economy macroeconomics, with a focus on developing countries. My dissertation focused on the 1999 economic collapse in Ecuador,using a combination of historical, theoretical, and empirical analyses. My paper on the role of deregulation, moral hazard, and overconfidence in the Ecuadorian financial crisis was published by the Cambridge Journal of Economics. Financial crises are a perennial topic, with causes that are complex and deep, inextricably intermingled with politics and ethics. My Ph.D. is from the University of Notre Dame.
