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DR. MARK W. HENDRICKSON: COMBATING RECESSIONS - THE SEARCH FOR THE RIGHT MACROECONOMIC POLICY |
Adjunct faculty member, economist, and contributing scholar with The Center for Vision & Values at Grove City College—Dr. Hendrickson—considers the role of government in combating recessions by recapping the policies of the past, presenting strategies for the present, and advocating an approach for the future. “Unfortunately,” he concludes, “there is no pain-free alternative. Decades of government intervention have prevented needed adjustments, resulting in a gargantuan, rotten financial house of cards looming over us. Whenever the inevitable collapse happens, GDP will plunge. It will be like the economy has been hit by a financial neutron bomb. The problem is, the longer we wait for this to happen, the larger and more painful the collapse.
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