Kenneth Rogoff, Professor of Economics and Public Policy at Harvard University and recipient of the 2011 Deutsche Bank Prize in Financial Economics, was the chief economist of the International Monetary Fund from 2001 to 2003. His most recent book, co-authored with Carmen M. Reinhart, is This Time is Different: Eight Centuries of Financial Folly.

Europe’s Lost Keynesians
J. Bradford DeLong: There are two ways to think about why North Atlantic economies are depressed. The first is that would-be spenders (including people and businesses that buy durable capital goods) want to spend less th…
Europe’s Lost Keynesians
Paul A. Myers: In the major eurozone economies, the big banks need to be broken up, which should be easy once you write down the bad assets since all the bank equity will be negative. Bank concentration is the big u…