Brad DeLong
Professor of Economics
University of California, Berkeley
Brad DeLong is a former guest blogger at the Washington Center for Equitable Growth. He is also a professor of economics at the University of California, Berkeley, a research associate of the NBER, and a fellow of the Institute for New Economic Thinking, and was from 1993-1995 a deputy assistant secretary of the U.S. Treasury. He teaches economic history, macroeconomics, economic growth, and occasionally finance, political economy, and principles of economics. He writes, mostly, about the changing nature of the business cycle, the mainsprings of economic growth, the current economy in historical perspective, and the past economy in contemporary perspective. He received his B.A. in social studies and Ph.D. in economics, both from Harvard University.
Want to connect with Equitable Growth?
Contact UsAuthored By Brad DeLong
Equitable Recovery
Brad DeLong: Worthy reads on equitable growth, July 7-12, 2021
Coronavirus Recession
Brad DeLong: Worthy reads on equitable growth, March 14-20, 2020
post
What Nick Kristof Doesn’t Get About the Ivory Tower">Should-Read: Dan Drezner (2014): What Nick Kristof Doesn’t Get About the Ivory Tower
post
Wealth Taxation and Wealth Accumulation: Theory and Evidence from Denmark">Should-Read: Katrine Jakobsen et al.: Wealth Taxation and Wealth Accumulation: Theory and Evidence from Denmark
post
Rational Markets Theory Keeps Running Into Irrational Humans">Should-Read: Noah Smith: Rational Markets Theory Keeps Running Into Irrational Humans
post
Unicorns of the Intellectual Right">Should-Read: Paul Krugman: Unicorns of the Intellectual Right
post
Raising the Speed Limit on Future Growth">Should-Read: Mary Daly: Raising the Speed Limit on Future Growth
post
No, “Obamasclerosis” wasnt a real problem">Should-Read: Larry Summers: No, “Obamasclerosis” wasnt a real problem
post
Oklahoma’s Teachers & Education Funding Issues">Should-Read: Mark Antonio Wright: Oklahoma’s Teachers & Education Funding Issues
post
Mortality from Nestlé’s Marketing of Infant Formula in Low and Middle-Income Countries">Should-Read: Jesse K. Anttila-Hughes et al.: Mortality from Nestlé’s Marketing of Infant Formula in Low and Middle-Income Countries
post
The End of Windows">Should-Read: Ben Thompson: The End of Windows
post
Trade Wars, Stranded Assets, and the Stock Market">Should-Read: Paul Krugman: Trade Wars, Stranded Assets, and the Stock Market
post
Beveridge Report: Social Insurance and Allied Services">Should-Read: William Beveridge (1942): Beveridge Report: Social Insurance and Allied Services
post
The Chinese economy is rebalancing, at last">Should-Read: Martin Wolf: The Chinese economy is rebalancing, at last
post
Open Letter to Ben Bernanke">Should-Read: Michael J. Boskin, Charles W. Calomiris, John F. Cogan, Niall Ferguson, Kevin A. Hassett, Douglas Holtz-Eakin, David Malpass, John B. Taylor, and others not worth mentioning: (November 15, 2010): Open Letter to Ben Bernanke
post
Genes, Eyeglasses, and Social Policy">
Should-Read: Charles F. Manski (2011): Genes, Eyeglasses, and Social Policy
post
Is Automation Labor-Displacing? Productivity Growth, Employment, and the Labor Share">Should-Read: David Autor and Anna Salomons: Is Automation Labor-Displacing? Productivity Growth, Employment, and the Labor Share
post
How China can avoid a trade war with the US">Should-Read: In which Martin Wolf begs for China to act like the adult in the house: Martin Wolf: How China can avoid a trade war with the US
post
Women in Economics at Berkeley">Should-Read: I think Emily Eisner gets this right: Emily Eisner: Women in Economics at Berkeley
post
The Economic Scars of Crises and Recessions">Should-Read: Valerie Cerra and Sweta C. Saxena: The Economic Scars of Crises and Recessions
post
Immaculate Inflation Strikes Again">Should-Read: Paul Krugman: Immaculate Inflation Strikes Again
post
Sam Harris, Charles Murray, and the allure of race science ">Should-Read: Ezra Klein: Sam Harris, Charles Murray, and the allure of race science
post
On Twitter">Should-Read: Joe Weisenthal: On Twitter
Brahmin Left vs. Merchant Right: Rising Inequality and the Changing Structure of Political Conflict (Evidence from France, Britain and the US, 1948-2017)">
post
Brahmin Left vs. Merchant Right: Rising Inequality and the Changing Structure of Political Conflict (Evidence from France, Britain and the US, 1948-2017)">Should-Read: Thomas Piketty: Brahmin Left vs. Merchant Right: Rising Inequality and the Changing Structure of Political Conflict (Evidence from France, Britain and the US, 1948-2017)
post
Globalization: What Did We Miss?">Should-Read: Paul Krugman: Globalization: What Did We Miss?
post
Tax Cuts and Wages Redux">Should-Read: Paul Krugman: Tax Cuts and Wages Redux
post
Reconsidering the ‘China shock’ in trade">Should-Read: Robert Feenstra, Hong Ma, Akira Sasahara, and Yuan Xu: Reconsidering the ‘China shock’ in trade
post
The macroeconomic effects of the 2017 tax reform">Robert Barro and Jason Furman: The macroeconomic effects of the 2017 tax reform
post
The hysteresis-resilience trade-off in unemployment">Should-Read: Tolga Aksoy and Paolo Manasse: The hysteresis-resilience trade-off in unemployment
The “Iron Cage” and the “Shell as Hard as Steel”: Parsons, Weber, and the Stahlhartes Gehäuse Metaphor in the Protestant Ethic and the Spirit of Capitalism">
post
The “Iron Cage” and the “Shell as Hard as Steel”: Parsons, Weber, and the Stahlhartes Gehäuse Metaphor in the Protestant Ethic and the Spirit of Capitalism">Peter Baehr (2001): The “Iron Cage” and the “Shell as Hard as Steel”: Parsons, Weber, and the Stahlhartes Gehäuse Metaphor in the Protestant Ethic and the Spirit of Capitalism
post
Trump is about to launch a trade war with no way out">Should-Read: Shawn Donnan: Trump is about to launch a trade war with no way out
post
Economics failed us before the global crisis">Should-Read: Martin Wolf: Economics failed us before the global crisis
post
Why Money Managers Are Paid So Much Is a Mystery">Should-Read: Noah Smith: Why Money Managers Are Paid So Much Is a Mystery
post
Test Case – Charlie’s Diary">Should-Read: Charlie Stross: Test Case – Charlie’s Diary
post
Health Insurance Coverage and Health—What the Recent Evidence Tells Us">Should-Read: Benjamin D. Sommers, Atul A. Gawande, and Katherine Baicker: Health Insurance Coverage and Health—What the Recent Evidence Tells Us
post
Beliefs about Brexit">Should-Read: Simon Wren-Lewis: Beliefs about Brexit
post
“A strong, fully employed economyShould-Read: Lawrence Summers: “A strong, fully employed economy
We… would be delighted by… lift[ing] all single mothers out of poverty…. Making a substantial fraction of people not poor would reduce poverty. Duh">
post
We… would be delighted by… lift[ing] all single mothers out of poverty…. Making a substantial fraction of people not poor would reduce poverty. Duh">Should-Read: David Brady: We… would be delighted by… lift[ing] all single mothers out of poverty…. Making a substantial fraction of people not poor would reduce poverty. Duh
post
Trump and Trade and Zombies">Should-Read: Paul Krugman: Trump and Trade and Zombies
post
The Real Reason for Trump’s Steel and Aluminum Tariffs">Should-Read: Martin Feldstein: The Real Reason for Trump’s Steel and Aluminum Tariffs
post
Another new publication!">Should-Read: Dan Shaviro: Another new publication!
post
How Universities Make Cities Great">Should-Read: Noah Smith: How Universities Make Cities Great
The lure of aggregates and the pitfalls of the patriarchal perspective: a critique of the high wage economy interpretation of the British industrial revolution">
post
The lure of aggregates and the pitfalls of the patriarchal perspective: a critique of the high wage economy interpretation of the British industrial revolution">Should-Read: Jane Humphries (2013): The lure of aggregates and the pitfalls of the patriarchal perspective: a critique of the high wage economy interpretation of the British industrial revolution
post
Inflation: Price Changes 1997 to 2017">Should-Read: Barry Ritholtz: Inflation: Price Changes 1997 to 2017
post
Gendered Language">Should-Read: Pamela Jakiela and Owen Ozier: Gendered Language
post
America’s ‘Retail Apocalypse’ Is Really Just Beginning">Should-Read: Matt Townsend et al.: America’s ‘Retail Apocalypse’ Is Really Just Beginning
post
The case for fairer algorithms">Should-Read: Iason Gabriel: The case for fairer algorithms
post
New Trump Economist Kudlow Has Been Wrong About Everything">Should-Read: Jonathan Chait: New Trump Economist Kudlow Has Been Wrong About Everything
post
Inflation? Bring It On. Workers Could Actually Benefit">Should-Read: Belle Sawhill: Inflation? Bring It On. Workers Could Actually Benefit
post
Doesn’t Anyone Care If the Trump Tax Cuts Are Working?">Should-Read: Dean Baker: Doesn’t Anyone Care If the Trump Tax Cuts Are Working?
post
Policy without politics, immigration, and Trump’s self-awareness">Should-Read: Josh Barro and Isaac Chotiner: Policy without politics, immigration, and Trump’s self-awareness
post
INDUSTRIAL POLICIES IN PRODUCTION NETWORKS">Should-Read: Ernest Liu (2016): INDUSTRIAL POLICIES IN PRODUCTION NETWORKS
post
Trump’s Trade Gimmickry">Should-Read: Dani Rodrik: Trump’s Trade Gimmickry
post
California Affordable Housing Is No Mystery: Just Build More">Should-Read: Noah Smith: California Affordable Housing Is No Mystery: Just Build More
post
Just how tight is the U.S. labor market?">Should-Read: Nick Bunker: Just how tight is the U.S. labor market?
post
The O-Ring Theory of Economic Development">Should-Read: Michael Kremer (1993): The O-Ring Theory of Economic Development
post
The Data Science Venn Diagram">Should-Read: Lots to think about about how statistics and economics should be being taught these days: Drew Conway (2013): The Data Science Venn Diagram
post
The Market Dogs That Didn’t Bark">Should-Read: *Anatole Kaletsky *: The Market Dogs That Didn’t Bark
post
A Comment on the Return of “It’s Baaaack”">Should-Read: Robert Waldmann: A Comment on the Return of “It’s Baaaack”
post
The Political Behavior of Wealthy Americans: Evidence from Technology Entrepreneurs">Should-Read: David E. Broockman et al.: The Political Behavior of Wealthy Americans: Evidence from Technology Entrepreneurs
post
Let’s Get Better at Demanding Better from Tech">Should-Read: Cory Doctorow: Let’s Get Better at Demanding Better from Tech
post
Why so many Westerners feel like democracy has failed them">Should-Read: Yascha Mounk: Why so many Westerners feel like democracy has failed them
post
What older people should know about Medicare and Medicaid">Should-Read: Ann Marie Marciarille: What older people should know about Medicare and Medicaid
post
The Liquidation of Government Debt">Should-Read: Carmen M. Reinhart and M. Belen Sbrancia (2011): The Liquidation of Government Debt
post
Why do beginner econometricians get worked up about the wrong things?">Should-Read: Frances Woolley: Why do beginner econometricians get worked up about the wrong things?
post
The Amazon Threat to Kill the Hungry Tapeworm">Should-Read: Ann Marie Marciarille: The Amazon Threat to Kill the Hungry Tapeworm
post
A Contribution to the Empirics of Economic Growth">Should-Read: N. Gregory Mankiw, David Romer, and David Weil (1992): A Contribution to the Empirics of Economic Growth
post
U.S. Inequality and Recent Tax Changes">Should-Read: Greg Leiserson: U.S. Inequality and Recent Tax Changes
post
A tweetstorm on the recent intellectual history of monopsony">Should-Read: Marshall Steinbaum: A tweetstorm on the recent intellectual history of monopsony
post
Kaldor and Piketty’s Facts: The Rise of Monopoly Power in the United States">Should-Read: Gauti Eggertsson, Jacob A. Robbins, and Ella Getz Wold: Kaldor and Piketty’s Facts: The Rise of Monopoly Power in the United States
post
Do neural nets dream of electric sheep?">Should-Read: Janelle Shane: Do neural nets dream of electric sheep?
post
Economists vs. Scientists on Long-Term Growth">Should-Read: Kenneth Rogoff: Economists vs. Scientists on Long-Term Growth
post
Essays in Persuasion">Should-Read: John Maynard Keynes (1931): Essays in Persuasion
post
Labour’s embrace of a customs union could end the Brexit fantasy">Should-Read: Simon Wren-Lewis: Labour’s embrace of a customs union could end the Brexit fantasy
post
Explaining the Decline in the U.S. Employment-to-Population Ratio: A Review of the Evidence">Should-Read: Katharine G. Abraham and Melissa S. Kearney: Explaining the Decline in the U.S. Employment-to-Population Ratio: A Review of the Evidence
post
Federal Reserve’s Monetary Policy & Economic Reaction">Should-Read: Ramesh Ponnuru and David Beckworth: Federal Reserve’s Monetary Policy & Economic Reaction
post
TPP 2.0: The Deal Without the US">Should-Read: Zachary Torrey: TPP 2.0: The Deal Without the US
post
rebuilding macroeconomic theory project: an analytical assessment">Should-Read: David Vines and Samuel Wills: rebuilding macroeconomic theory project: an analytical assessment
post
Some Thoughts About Economic Exposition in Math and Words">Should-Read: Tim Taylor: Some Thoughts About Economic Exposition in Math and Words
post
It’s Baaack, Twenty Years Later">Must-Read: Paul Krugman: It’s Baaack, Twenty Years Later
post
Inequality and aggregate demand">Should-Read: Adrien Auclert and Matthew Rognlie: Inequality and aggregate demand
post
Falling Behind and Catching up: India’s Transition from a Colonial Economy">Should-Read: Bishnupriya Gupta: Falling Behind and Catching up: India’s Transition from a Colonial Economy
post
Cost-Push and Demand-Pull Inflation: Milton Friedman and the “Cruel Dilemma”">Should-Read: Johannes A. Schwarzer: Cost-Push and Demand-Pull Inflation: Milton Friedman and the “Cruel Dilemma”
post
The Comparative Advantage of Medicare Advantage">Should-Read: Joseph P. Newhouse, Mary Beth Landrum, Mary Price, J. Michael McWilliams, John Hsu, and Thomas McGuire: The Comparative Advantage of Medicare Advantage
post
The Duel: The Eighty Day Struggle Between Churchill and Hitler">Should-Read: John Lukacs: The Duel: The Eighty Day Struggle Between Churchill and Hitler
post
What Does a True Populism Look Like? It Looks Like the New Deal">Should-Read: Dani Rodrik: What Does a True Populism Look Like? It Looks Like the New Deal
post
Reviews ‘Bread for All’">Should-Read: Susan Pedersen: Reviews ‘Bread for All’
post
Harvard economist Claudia Goldin studies why women earn less than men">Should-Read: Claudia Goldin: Harvard economist Claudia Goldin studies why women earn less than men
post
The Euro Area Needs a Fiscal Union">Should-Read: Helge Berger, Giovanni Dell’Ariccia, and Maurice Obstfeld: The Euro Area Needs a Fiscal Union
post
Medicare Extra for All">Should-Read: Center for American Progress: Medicare Extra for All
post
On the link between US pay and productivity">Should-Read: Anna Stansbury and Lawrence Summers: On the link between US pay and productivity
post
Economist’s View: Links for 02-19-18">Must-Read: Mark Thoma: Economist’s View: Links for 02-19-18
post
The father of consumer sovereignty">Should-Read: Henry Farrell: The father of consumer sovereignty
post
Budgets, Bad Faith and ‘Balance’">Should-Read: Paul Krugman: Budgets, Bad Faith and ‘Balance’
post
London life proves hard to give up for Brexit relocations">Should-Read: Daniel Thomas: London life proves hard to give up for Brexit relocations
post
Relative Prices, Hysteresis, and the Decline of American Manufacturing">Should-Read: Doug Campbell: Relative Prices, Hysteresis, and the Decline of American Manufacturing
post
Brexit has replaced the UK’s stiff upper lip with quivering rage">Should-Read: Martin Wolf: Brexit has replaced the UK’s stiff upper lip with quivering rage
post
Inequality is not inevitable–but the US ‘experiment’ is a recipe for divergence">Should-Read: Facundo Alvaredo, Lucas Chancel, Thomas Piketty, Emmanuel Saez and Gabriel Zucman: Inequality is not inevitable–but the US ‘experiment’ is a recipe for divergence
post
U.S. Consumer Prices Top Forecasts, Sending Markets Tumbling">Should-Read: Katia Dmitrieva: U.S. Consumer Prices Top Forecasts, Sending Markets Tumbling
post
Sources of displaced workers’ long-term earnings losses">Should-Read: Marta Lachowska, Alexandre Mas, Stephen Woodbury: Sources of displaced workers’ long-term earnings losses
post
Gaps in the Market">Should-Read: Heather Boushey: Gaps in the Market
post
Exchange Rate Disconnect in General Eqilibrium">Should-Read: Oleg Itskhoki and Dmitry Mukhin: Exchange Rate Disconnect in General Eqilibrium
post
How Big a Bang for Trump’s Buck?">Should-Read: Paul Krugman: How Big a Bang for Trump’s Buck?
post
Capital Decimation Partners">Should-Read: Dan Davies (2009): Capital Decimation Partners
post
Notes on European Recovery">Should-Read: Paul Krugman: Notes on European Recovery
“Saying nothing about the importance of financial linkages and imbalances because they didn’t know they were there does not exactly get the profession off the hook!!!”">
post
“Saying nothing about the importance of financial linkages and imbalances because they didn’t know they were there does not exactly get the profession off the hook!!!”">Should-Read: Dan Davies, Simon Wren-Lewis, and Policy Sketchbook: “Saying nothing about the importance of financial linkages and imbalances because they didn’t know they were there does not exactly get the profession off the hook!!!”
post
The Grumpy Economist: Bitcoin and Bubbles">Should-Read: John Cochrane: The Grumpy Economist: Bitcoin and Bubbles
post
When will the world reach ‘peak child’?">Should-Read: Max Roser: When will the world reach ‘peak child’?
post
Academic knowledge about economic policy is not just another opinion">Should-Read: Simon Wren-Lewis: Academic knowledge about economic policy is not just another opinion
post
In defense of Social Security Disability Insurance">Should-Read: Dylan Matthews: In defense of Social Security Disability Insurance
post
The new asymmetric risk">Should-Read: Jared Bernstein: The new asymmetric risk
post
Rejection of Animal FarmShould-Read: T.S. Eliot (1944): Rejection of Animal Farm
post
When Will Tech Disrupt Higher Education?">Should-Read: Kenneth Rogoff: When Will Tech Disrupt Higher Education?
post
This Is The Real Reason The GOP Doesn’t Want To Do A Budget This Year">Should-Read: Stan Collender: This Is The Real Reason The GOP Doesn’t Want To Do A Budget This Year
post
Principles of Political Economy">Should-Read: John Stuart Mill (1848, 1871): Principles of Political Economy
post
Understanding the [Post-2000] Decline in Manufacturing Employment">Should-Read: Susan Houseman: Understanding the [Post-2000] Decline in Manufacturing Employment
post
Economists in public">Should-Read: Chris Dillow: Economists in public
post
Real-Time Estimates of Potential GDP: Should the Fed Really Be Hitting the Brakes?">Should-Read: Olivier Coibion, Yuriy Gorodnichenko, and Mauricio Ulate: Real-Time Estimates of Potential GDP: Should the Fed Really Be Hitting the Brakes?
post
Unfulfilled promises: Amazon fulfillment centers do not generate broad-based employment growth">Should-Read: Janelle Jones and Ben Zipperer: Unfulfilled promises: Amazon fulfillment centers do not generate broad-based employment growth
post
The Truth About Teen Suicide">Should-Read: Mike Males: The Truth About Teen Suicide
post
Noah Smith on Bitcoins: A Failure with a Golden Future ">Should-Read: David Glasner: Noah Smith on Bitcoins: A Failure with a Golden Future
post
Universities in the Age of AI">Should-Read: Andrew Wachtel: Universities in the Age of AI
post
The Gang That Couldn’t Think Straight">Must-Read: Paul Krugman: The Gang That Couldn’t Think Straight
post
“Journalists need a place they can go">Should-Read: Simon Wren-Lewis, Tony Yates, and Dan Davies: “Journalists need a place they can go
post
U.S. Uninsured Rate Rises to 12.3% in Third Quarter">Should-Read: Zac Auter: U.S. Uninsured Rate Rises to 12.3% in Third Quarter
post
The Regulatory Subsidy for Extreme Leverage: A Reply to Mike Konczal">Should-Read: Brink Lindsey and Steven M. Teles: The Regulatory Subsidy for Extreme Leverage: A Reply to Mike Konczal
post
Do Stocks Outperform Treasury Bills?">Should-Read: Hendrik Bessembinder: Do Stocks Outperform Treasury Bills?
post
Senate Confirms Jerome H. Powell as Fed Chairman">Must-Read: Binyamin Appelbaum: Senate Confirms Jerome H. Powell as Fed Chairman
post
The Durability of Inflation Derp">Should-Read: Paul Krugman: The Durability of Inflation Derp
post
Trump’s CNBC interview from the Davos World Economic Forum">Should-Read: Matthew Yglesias:Trump’s CNBC interview from the Davos World Economic Forum
post
Why can’t conservatives just admit they were wrong about inflation?">Should-Read: Matt O’Brien: Why can’t conservatives just admit they were wrong about inflation?
post
Changing Business Dynamism and Productivity: Shocks vs. Responsiveness">Should-Read: Ryan A. Decker, John C. Haltiwanger, Ron S. Jarmin, and Javier Miranda: Changing Business Dynamism and Productivity: Shocks vs. Responsiveness
post
Does Trade Fuel Inequality?">Should-Read: Jeffrey Frankel: Does Trade Fuel Inequality?
post
Does Universal Preschool Hit the Target?: Program Access and Preschool Impacts">Should-Read: Elizabeth U. Cascio: Does Universal Preschool Hit the Target?: Program Access and Preschool Impacts
post
How Economics Survived the Economic Crisis">Should-Read: Robert Skidelsky: How Economics Survived the Economic Crisis
post
The Tax Break That Doctors and Plumbers Both Will Miss">Should-Read: Ruth Simon: The Tax Break That Doctors and Plumbers Both Will Miss
post
Ideas and Interests">Should-Read: Peter Hall: Ideas and Interests
post
Good enough for government work? Macroeconomics since the crisis">Must-Read: Paul Krugman: Good enough for government work? Macroeconomics since the crisis
post
Dude, you broke the future!">Must-Read: Charlie Stross: Dude, you broke the future!
post
Does Brexit end not with a bang but a whimper?">Should-Read: Simon Wren-Lewis: Does Brexit end not with a bang but a whimper?
The effect of minimum wages on the total number of jobs: Evidence from the United States using a bunching estimator">
post
The effect of minimum wages on the total number of jobs: Evidence from the United States using a bunching estimator">Should-Read: Doruk Cengiz, Arindrajit Dube, Attila Lindner, and Ben Zipperer: The effect of minimum wages on the total number of jobs: Evidence from the United States using a bunching estimator
post
How merchant guilds became obsolete">Should-Read: Prateek Raj: How merchant guilds became obsolete
post
The rate of return on everything">Should-Read: Òscar Jordà, Katharina Knoll, Dmitry Kuvshinov, Moritz Schularick, Alan Taylor: The rate of return on everything
post
“The central fact of U.S. political economy,">Should-Read: Paul Krugman: “The central fact of U.S. political economy,
post
America, America">Must-Read: Jonathan Kirshner (January 15, 2017): America, America
post
Don’t even try to “Normalise” interest rates">Should-Read: Nick Rowe: Don’t even try to “Normalise” interest rates
post
Ten years in, nobody has come up with a use for blockchain">Should-Read: Kai Stinchcombe: Ten years in, nobody has come up with a use for blockchain
post
A Road Map for Reviving the Midwest">Noah Smith: A Road Map for Reviving the Midwest
post
@CaptainPAYGO on Twitter">Should-Read: Ed Lorenzen: @CaptainPAYGO on Twitter
post
Supply-Side Amnesia
post
Rethink 2%
post
Trump’s Tax Noplan
post
Monetary Policy 201
