Grossman Discusses Policy in Wake of Financial Crisis

Professor of Economics Richard Grossman, author of Wrong: Nine Economic Policy Disasters and What We Can Learn to Them, was interviewed on Concord News Radio about policy decisions made in the aftermath of the financial crisis.

“The actions that were taken in the wake of the financial crisis, I view as having been completely necessary. If you go back and look at the Great Depression,when the government didn’t do enough and the central bank for sure didn’t do enough, then you get a sense of how bad things can be,” said Grossman. “When you’re just a few inches away from financial Armageddon, even if the policy isn’t perfect, you really have to turn all your guns on it and do everything to avoid going those last few inches over the edge.”