The typical recession is like a nasty hangover after a great party.  During the party, participants get drunk and have a good time. Or as former Fed chairman Allen Greenspan was fond of calling it, they become irrationally exuberant. But when the party is over, society pays for its thrills with a recessionary morning after.
While [...]

The economy is still in trouble and there will be more discussion about it in the coming weeks and months. We should not let morality obscure that discussion. Certainly we should strive for economic reforms that reward hard work and innovation rather than Wall St. coin clipping. We should also do what we can to make sure everyone has a fair chance at economic prosperity. But we shouldn’t let ourselves be led into the trap of believing that prudent spending is a sin or that our economy should go to hell.[...]

I suspect the epithet, “the dismal science,” persists because economists tend to deal with numbers, and numbers have very little regard for our wishful thinking.[...]

Despair has a talent for spreading itself around, and while some feel encouraged to look on the bright side of the current economic recession, those whose lives have been ravaged often remain understandably cynical.
Perhaps the only universal silver lining is acknowledging a fundamental truth—the only thing that will never change, is the reality that things [...]

The impact of the auto industry on the us economy, has had an impact for years, long before the recession.

Situations which cause economic recession and the ripple effects that they can have.