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                <title>J. Bradford DeLong | Project Syndicate RSS-Feed</title>
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                  <![CDATA[<p>In economic matters, opinion moves more slowly than events. And yet nowhere is anticipating the future so important. This is why <i>Project Syndicate</i> is proud to provide its members with  <b>J. Bradford DeLong's</b> <b>exclusive </b>commentaries on global economic developments.</p>
<p>A <b>Professor of Economics at the University of California at Berkeley,  J. Bradford DeLong</b> is at the forefront of both economic thinking and policy development. Steeped in practical experience as <b>Assistant US Treasury Secretary during the Clinton administration,</b> he recognizes that economic analysis requires careful reflection and respect for the possibility of the unexpected.</p>
<p>DeLong’s work on Mexico’s bailout in the 1990’s put him at the <b>forefront of Latin America’s transformation into a region of open economies.</b> Today, his ideas inform debates about central banks and currencies, and his views and predictions are sought everywhere. With <i>Project Syndicate</i>,  <b>J. Bradford DeLong's </b>lucid style and clear thinking help millions of readers orient themselves in today’s tumult of contradictory news and opinions.</p>]]>
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                <category>J. Bradford DeLong</category>
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                  <![CDATA[<p>In economic matters, opinion moves more slowly than events. And yet nowhere is anticipating the future so important. This is why <i>Project Syndicate</i> is proud to provide its members with  <b>J. Bradford DeLong's</b> <b>exclusive </b>commentaries on global economic developments.</p>
<p>A <b>Professor of Economics at the University of California at Berkeley,  J. Bradford DeLong</b> is at the forefront of both economic thinking and policy development. Steeped in practical experience as <b>Assistant US Treasury Secretary during the Clinton administration,</b> he recognizes that economic analysis requires careful reflection and respect for the possibility of the unexpected.</p>
<p>DeLong’s work on Mexico’s bailout in the 1990’s put him at the <b>forefront of Latin America’s transformation into a region of open economies.</b> Today, his ideas inform debates about central banks and currencies, and his views and predictions are sought everywhere. With <i>Project Syndicate</i>,  <b>J. Bradford DeLong's </b>lucid style and clear thinking help millions of readers orient themselves in today’s tumult of contradictory news and opinions.</p>]]>
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                <ttl>40</ttl>
                  
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    <title>When Is Government Debt Risky?</title>
    <description><![CDATA[A government that does not tax sufficiently to cover its spending will eventually run into all manner of debt-generated trouble. But it cannot happen as long as interest rates remain low, stock prices remain buoyant, and inflation remains subdued.]]></description>
	<comments>http://www.project-syndicate.org/commentary/the-impact-of-public-debt-on-economic-growth-by-j--bradford-delong</comments>
	<slash:comments>14</slash:comments>
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	<pubDate>Mon, 29 Apr 2013 17:20:06 +0000</pubDate>
	<dc:creator>J. Bradford DeLong</dc:creator>
	
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			<media:copyright>Illustration by Paul Lachine</media:copyright>
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    <title>Let it Bleed?</title>
    <description><![CDATA[Once upon a time, policymakers understood that the government should tweak asset supplies to ensure sufficient supplies of liquid assets, safe assets, and savings vehicles, so that pressure to deleverage would not push production below potential output. But this basic principle of macroeconomic management has gone out the window.]]></description>
	<comments>http://www.project-syndicate.org/commentary/the-great-depression-redux-by-j--bradford-delong</comments>
	<slash:comments>8</slash:comments>
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	<pubDate>Thu, 28 Mar 2013 09:00:00 +0000</pubDate>
	<dc:creator>J. Bradford DeLong</dc:creator>
	
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			<media:copyright>Illustration by Paul Lachine</media:copyright>
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    <title>American Conservatism’s Crisis of Ideas</title>
    <description><![CDATA[The problem for American conservatives today is not their choice of candidates or the tone of their rhetoric. It is that their ideas are not politically sustainable.]]></description>
	<comments>http://www.project-syndicate.org/commentary/american-conservatism-s-crisis-of-ideas-by-j--bradford-delong</comments>
	<slash:comments>12</slash:comments>
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    <link>http://www.project-syndicate.org/commentary/american-conservatism-s-crisis-of-ideas-by-j--bradford-delong</link>
	<pubDate>Wed, 27 Feb 2013 13:00:16 +0000</pubDate>
	<dc:creator>J. Bradford DeLong</dc:creator>
	
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			<media:copyright>Illustration by Pedro Molina</media:copyright>
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    <title>Grand Mal Economics</title>
    <description><![CDATA[Industrial market economies have been suffering from periodic financial crises, followed by high unemployment, at least since the Panic of 1825, so we have had nearly two centuries since then to figure out how to deal with them. Why, then, have governments and central banks failed this time around?]]></description>
	<comments>http://www.project-syndicate.org/commentary/the-unreached-limits-of-expansionary-economic-policy-by-j--bradford-delong</comments>
	<slash:comments>5</slash:comments>
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	<pubDate>Thu, 31 Jan 2013 12:00:14 +0000</pubDate>
	<dc:creator>J. Bradford DeLong</dc:creator>
	
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			<media:copyright>Illustration by Paul Lachine</media:copyright>
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    <title>Over the Cliff We Go</title>
    <description><![CDATA[If, as appears likely, America falls over the "fiscal cliff" on January 1, the country's long-run structural budget deficit will disappear, with primary surpluses beginning in 2015. So why aren't deficit hawks celebrating?.]]></description>
	<comments>http://www.project-syndicate.org/commentary/what-comes-after-the-fiscal-cliff-by-j--bradford-delong</comments>
	<slash:comments>5</slash:comments>
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    <link>http://www.project-syndicate.org/commentary/what-comes-after-the-fiscal-cliff-by-j--bradford-delong</link>
	<pubDate>Thu, 27 Dec 2012 19:20:09 +0000</pubDate>
	<dc:creator>J. Bradford DeLong</dc:creator>
	
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			<media:copyright>Illustration by Tim Brinton</media:copyright>
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    <title>America’s Political Recession</title>
    <description><![CDATA[The US could well be in a recession next year. The reason is entirely political: partisan polarization has reached unprecedented levels, threatening to send the US tumbling over the “fiscal cliff” – the automatic tax increases and spending cuts that will take effect at the beginning of 2013 unless its politicians agree otherwise.]]></description>
	<comments>http://www.project-syndicate.org/commentary/america-s-permanent-gridlock-and-the-fiscal-cliff-by-j--bradford-delong</comments>
	<slash:comments>10</slash:comments>
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    <link>http://www.project-syndicate.org/commentary/america-s-permanent-gridlock-and-the-fiscal-cliff-by-j--bradford-delong</link>
	<pubDate>Thu, 29 Nov 2012 16:30:16 +0000</pubDate>
	<dc:creator>J. Bradford DeLong</dc:creator>
	
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			<media:copyright>Illustration by Tim Brinton</media:copyright>
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    <title>Our Debt to Stalingrad</title>
    <description><![CDATA[Seventy years ago, 200,000 Soviet soldiers – overwhelmingly male and predominantly Russian – crossed the Volga River to the city of Stalingrad. The Red Army soldiers, the workers who armed them, and the peasants who fed them turned the Battle of Stalingrad into the fight that has made the greatest positive difference for humanity.]]></description>
	<comments>http://www.project-syndicate.org/commentary/seventy-years-after-the-battle-of-stalingrad-by-j--bradford-delong</comments>
	<slash:comments>23</slash:comments>
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	<pubDate>Thu, 25 Oct 2012 11:00:16 +0000</pubDate>
	<dc:creator>J. Bradford DeLong</dc:creator>
	
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			<media:copyright>Illustration by Paul Lachine</media:copyright>
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    <title>Stage Three for the Euro Crisis?</title>
    <description><![CDATA[The first two components of the euro crisis – a banking crisis that resulted from public and private over-leverage, followed by a sharp fall in confidence in eurozone governments – have been at least partly addressed. But that leaves the most dangerous component: the structural imbalance between the eurozone’s north and south.]]></description>
	<comments>http://www.project-syndicate.org/commentary/northern-southern-europe-european-union-by-j--bradford-delong</comments>
	<slash:comments>12</slash:comments>
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    <link>http://www.project-syndicate.org/commentary/northern-southern-europe-european-union-by-j--bradford-delong</link>
	<pubDate>Thu, 27 Sep 2012 13:10:07 +0000</pubDate>
	<dc:creator>J. Bradford DeLong</dc:creator>
	
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			<media:copyright>Illustration by Chris Van Es</media:copyright>
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    <title>Democracy in Tea Party America</title>
    <description><![CDATA[When the French politician and moral philosopher Alexis de Tocqueville published the first volume of his Democracy in America in 1835, he did so because he thought that France was in big trouble and could learn much from America. So one can only wonder what he would have made of the Republican National Convention in Tampa, Florida.]]></description>
	<comments>http://www.project-syndicate.org/commentary/democracy-in-tea-party-america-by-j--bradford-delong</comments>
	<slash:comments>10</slash:comments>
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    <link>http://www.project-syndicate.org/commentary/democracy-in-tea-party-america-by-j--bradford-delong</link>
	<pubDate>Thu, 30 Aug 2012 12:20:11 +0000</pubDate>
	<dc:creator>J. Bradford DeLong</dc:creator>
	
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			<media:copyright>Illustration by Paul Lachine</media:copyright>
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    <title>Hopeless Unemployment</title>
    <description><![CDATA[The North Atlantic economies have not yet reached the point that long-term unemployment becomes an impediment to recovery, as it was during the Great Depression. But, barring a sudden and unexpected interruption of current trends, that point will be reached in the next two years.]]></description>
	<comments>http://www.project-syndicate.org/commentary/hopeless-unemployment</comments>
	<slash:comments>13</slash:comments>
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    <link>http://www.project-syndicate.org/commentary/hopeless-unemployment</link>
	<pubDate>Tue, 31 Jul 2012 15:40:14 +0000</pubDate>
	<dc:creator>J. Bradford DeLong</dc:creator>
	
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			<media:copyright>Illustration by Paul Lachine</media:copyright>
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    <title>The Perils of Prophecy</title>
    <description><![CDATA[Historically-minded economists have reason to be proud of their analyses over the past five years. But, for all that they understood about the causes and consequences of financial crises, several important developments still need to be explained.]]></description>
	<comments>http://www.project-syndicate.org/commentary/the-perils-of-prophecy</comments>
	<slash:comments>16</slash:comments>
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    <link>http://www.project-syndicate.org/commentary/the-perils-of-prophecy</link>
	<pubDate>Wed, 27 Jun 2012 14:50:16 +0000</pubDate>
	<dc:creator>J. Bradford DeLong</dc:creator>
	
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			<media:copyright>Illustration by Dean Rohrer</media:copyright>
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    <title>The Economic Costs of Fear</title>
    <description><![CDATA[That is now an extraordinary gap in the returns that one can reasonably expect from US Treasury bonds and from stocks. So why aren’t people moving their money from bonds and other safe assets to stocks and other relatively risky assets?]]></description>
	<comments>http://www.project-syndicate.org/commentary/the-economic-costs-of-fear</comments>
	<slash:comments>8</slash:comments>
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    <link>http://www.project-syndicate.org/commentary/the-economic-costs-of-fear</link>
	<pubDate>Thu, 31 May 2012 13:50:11 +0000</pubDate>
	<dc:creator>J. Bradford DeLong</dc:creator>
	
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			<media:copyright>Illustration by Paul Lachine</media:copyright>
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    <title>Re-Capturing the Friedmans</title>
    <description><![CDATA[In 1979, Milton and Rose Director Friedman made three powerful factual claims about how the world works. Their case for small-government libertarianism rested largely on those claims, and has now largely crumbled, because the world, it turned out, disagreed with them about how it works.]]></description>
	<comments>http://www.project-syndicate.org/commentary/re-capturing-the-friedmans</comments>
	<slash:comments>10</slash:comments>
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    <link>http://www.project-syndicate.org/commentary/re-capturing-the-friedmans</link>
	<pubDate>Mon, 30 Apr 2012 04:00:00 +0000</pubDate>
	<dc:creator>J. Bradford DeLong</dc:creator>
	
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			<media:copyright>Illustration by Pedro Molina</media:copyright>
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    <title>The Shadow of Depression</title>
    <description><![CDATA[The risk that the world’s investors currently are trying to avoid by rushing into US, Japanese, and German sovereign debt is not a “fundamental” risk. Rather, the risk stems from governments’ refusal, when push comes to shove, to match aggregate demand to aggregate supply in order to prevent mass unemployment.]]></description>
	<comments>http://www.project-syndicate.org/commentary/the-shadow-of-depression</comments>
	<slash:comments>10</slash:comments>
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    <link>http://www.project-syndicate.org/commentary/the-shadow-of-depression</link>
	<pubDate>Thu, 29 Mar 2012 04:00:00 +0000</pubDate>
	<dc:creator>J. Bradford DeLong</dc:creator>
	
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			<media:copyright>Illustration by Newsart</media:copyright>
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    <title>The Usual Suspect</title>
    <description><![CDATA[Across the Euro-Atlantic world, economic recovery remains sluggish and halting, turning readily curable cyclical unemployment into structural unemployment, and a brief hiccup in capital accumulation into a prolonged investment shortfall. Unless governments spend more now,output could suffer for decades.]]></description>
	<comments>http://www.project-syndicate.org/commentary/the-usual-suspect</comments>
	<slash:comments>3</slash:comments>
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    <link>http://www.project-syndicate.org/commentary/the-usual-suspect</link>
	<pubDate>Wed, 29 Feb 2012 05:00:00 +0000</pubDate>
	<dc:creator>J. Bradford DeLong</dc:creator>
	
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			<media:copyright>Illustration by Steve Ansul</media:copyright>
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    <title>Neville Chamberlain was Right</title>
    <description><![CDATA[Relatively soon after the start of the Great Depression, the British economy was rapidly returning to its previous level of output, thanks to Neville Chamberlain’s reliance on fiscal stimulus to restore the price level to its pre-depression trajectory. Unlike today's British leaders, he did not appease flawed economic theories.]]></description>
	<comments>http://www.project-syndicate.org/commentary/neville-chamberlain-was-right</comments>
	<slash:comments>6</slash:comments>
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    <link>http://www.project-syndicate.org/commentary/neville-chamberlain-was-right</link>
	<pubDate>Mon, 30 Jan 2012 16:20:29 +0000</pubDate>
	<dc:creator>J. Bradford DeLong</dc:creator>
	
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			<media:copyright>Illustration by Newsart</media:copyright>
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    <title>America’s Financial Leviathan</title>
    <description><![CDATA[Today, finance and insurance in the US account for 8.4% of GDP, up from 2.8% in 1950 and 6% in 1990. So why has the devotion of a great deal of skill and enterprise to finance and insurance sector not paid obvious economic dividends?]]></description>
	<comments>http://www.project-syndicate.org/commentary/america-s-financial-leviathan</comments>
	<slash:comments>0</slash:comments>
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	<pubDate>Fri, 30 Dec 2011 05:00:00 +0000</pubDate>
	<dc:creator>J. Bradford DeLong</dc:creator>
	
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			<media:copyright>Illustration by Newsart</media:copyright>
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    <title>The 70% Solution</title>
    <description><![CDATA[Today's super rich command and control over resources that they are effectively satiated. So, when we calculate what their tax rate should be, we should not consider the effect on their happiness, but rather on the well-being of everyone else.]]></description>
	<comments>http://www.project-syndicate.org/commentary/the-70--solution</comments>
	<slash:comments>1</slash:comments>
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	<pubDate>Wed, 30 Nov 2011 05:00:00 +0000</pubDate>
	<dc:creator>J. Bradford DeLong</dc:creator>
	
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			<media:copyright>Illustration by Newsart</media:copyright>
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    <title>The ECB’s Battle against Central Banking</title>
    <description><![CDATA[When the European Central Bank announced its program of government-bond purchases, it let financial markets know that it thoroughly disliked the idea, was not fully committed to it, and would reverse the policy as soon as it could. But the ECB's refusal to accept responsibility for financial stability flies in the face of the history of central banking.]]></description>
	<comments>http://www.project-syndicate.org/commentary/the-ecb-s-battle-against-central-banking</comments>
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    <link>http://www.project-syndicate.org/commentary/the-ecb-s-battle-against-central-banking</link>
	<pubDate>Mon, 31 Oct 2011 04:00:00 +0000</pubDate>
	<dc:creator>J. Bradford DeLong</dc:creator>
	
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    <title>A Free Lunch for America</title>
    <description><![CDATA[The US government can currently borrow for 30 years at a real interest rate of 1% per year. Given this, an additional $500 billion in infrastructure spending would yield enormous benefits – and virtually no costs.]]></description>
	<comments>http://www.project-syndicate.org/commentary/a-free-lunch-for-america</comments>
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    <link>http://www.project-syndicate.org/commentary/a-free-lunch-for-america</link>
	<pubDate>Thu, 29 Sep 2011 04:00:00 +0000</pubDate>
	<dc:creator>J. Bradford DeLong</dc:creator>
	
	<media:content url="http://www.project-syndicate.org/default/library/8b8b7299854b60e9b6223e1c3c9efcdd.square.jpg" height="100" width="100" medium="image" type="image/jpeg">
			<media:copyright>Illustration by Newsart</media:copyright>
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