Summary Fall 2001

In a new Strategic Analysis, Distinguished Scholar Wynne Godley and Research Scholar Alex Izurieta provide an explanation for the recent economic slowdown in the United States, examine policy options, and discuss alternative scenarios for medium-term economic performance. In a related Policy Note, Phillips & Drew economist Bill Martin forecasts a post-bubble trauma for the United States that will have global consequences.

Contents: Strategic Analysis: As The Implosion Begins…? Prospects and Policies for the US Economy: A Strategic View * New Policy Notes: The New Old Economy * The Backward Art of Tax Cutting * Killing Social Security Softly with Faux Kindness * Project Summary: Quality of Life * New Working Papers: The Role of Institutions and Policies in Creating High European Unemployment: The Evidence * Reflections on the Current Fashion for Central Bank Independence * Can Countries under a Common Currency Conduct Their Own Fiscal Policies? * Toward a Population History of the Second Generation: Birth Cohorts of Southern- , Central- , and Eastern-European Origins, 1871-1970 * Young Mexican Americans, Blacks, and Whites in Recent Years: Schooling and Teen Motherhood as Indicators of Strengths and Risks * Institute News: New Research Staff