On National Public Radio’s Morning Edition today, the reporter David Kestenbaum took a look into a crystal ball for our economic situation.
That is, he reported on a computer model that was developed in the 1980s by Mark Gertler, now an economics professor at New York University, and Ben Bernanke, now the chairman of the Federal Reserve. Before becoming chairman, Mr. Bernanke had taught at Stanford University, New York University, and Princeton University. One of his academic interests — and we can hope he studied this one thoroughly — was the Great Depression.
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