May 14, 2024
Current U.S. military spending is higher than at any point of the Cold War in inflation-adjusted terms, but relatively low as a percent of national income.
March 15, 2023
Many economic decisions involve a guess about the future. Uncertainty can cause economic transactions to be deferred or foregone and can deepen downturns.
April 27, 2021
The policy steps that can be taken are often smaller than policymakers would want. But policies can be designed to have effects that help to entrench them and to expand over time.