October 23, 2010
False Profits: Recovering from the Bubble Economy
The 7th Annual Washington D.C. Green Festival
Washington Convention Center
801 Mount Vernon Place NW
Washington, D.C., 20001
CEPR Co-Director Dean Baker spoke about his book "False Profits: Recovering from the Bubble Economy" at the 7th Annual Washington D.C. Green Festival on the Green Lifestyle Stage. For more information on the event, visit the official website.
In "False Profits," Dean sets the record straight about the housing bubble and Great Recession. Although the top economic policymakers who looked the other way as the bubble grew unchecked are trying to rewrite history, Dean recounts how they failed to recognize the housing bubble and rein it in, resulting in the loss of millions of jobs, homes, and the life savings of tens of millions of people. He warned us the collapse was coming, and says that any good economics student would have been able to predict the train wreck well before it happened. In terms of recovery, Dean reveals exactly why real stimulus is necessary in a recession and the evolving role of the U.S. dollar in today’s global economy. He also outlines new reforms, advocating for a thoughtful progressive program for rebuilding the economy and reshaping the financial system.