Brad DeLong's Website

http://www.j-bradford-delong.net/ delong@econ.berkeley.edu


Economics 101b
Economics 202b
What I Write

Thought of This Week: Themes of 20th Century Economic History; a reworked, less triumphalist version of my standard talk about the explosion of material wealth in the twentieth century--and its astonishingly unequal distribution...

Link of the Week: Transistors Made from a Single Molecule; okay, it's a big molecule; nevertheless, nanotech steps closer...

Graph of the Week: Presidential Polls Once Again; the extraordinary volatility of some polls--Gallup, for example--makes me think that they need a long trip to statistical boot camp...

Economics Article of the Month: Goldin and Katz, "The Power of the Pill"; oral contraceptives did change everything as far as women's career and marriage decisions were concerned...

Archive of Past Thoughts...
Recycled
: Review of Jared Diamond, Guns, Germs, and Steel. The best book I have read on the long-run shape of human history. REVIEW.

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Graphs of recent economic statistics
Courtesy of the White House Economic Briefing Room


What I Write

20th Century Economic History; the in-progress draft of my economic history of the 20th century; the Old Draft...
The Next Economy?; why Adam Smith's advice may not be so good in the future...
Defending Mexico's Rescue; why the IMF is good.
The Shock of the Virtual; perhaps my most-cited essay...
Bull and Bear Markets; the long-term logic of stock markets...
Productivity, Convergence, and Welfare; how divergence--not convergence--is the big news in economic history...
Noise Trader Risk; how irrational speculators can survive and grow in influence...
Equipment Investment and Growth; since WWII, if you want to grow you had better invest heavily in equipment...
J. P. Morgan; just what did he do for his clients to grow so rich?...

Published writings by category...

Books Worth Reading

Book of the Month: The Keys to Prosperity; forty-nine essays by Rudi Dornbusch. Well-written, well-argued, taking a definite point of view: Rudi Dornbusch is the antiparticle to that bete noire of Harry Truman, the "on the one hand, on the other hand" economist.

Best Past Books of the Month: Guns, Germs, and Steel; must read book on the deep structure of human history; Code: The Hidden Language of Computers; best book on what computers are; Competing on Internet Time; the rise and fall of Netscape; Wealth and Poverty of Nations; excellent introduction to the origins of the present extraordinarily uneven world distribution of wealth.

Other Book Reviews

What Is New

2000-10-22: Rudi Dornbusch, The Keys to Prosperity; Forty-nine essays by Rudi Dornbusch. Well-written, well-argued, taking a definite point of view: Rudi Dornbusch is the antiparticle to that bete noire of Harry Truman, the "on the one hand, on the other hand" economist.
Lessons from the Financial Crises of the 1990s Five things, of which the most important are that globalization leads to increased instability and that political support for our current system of world financial management is shaky...
How Much Credit Does Clinton Deserve? Is he responsible for any significant share of the good economic news? Yes--as far as the deficit and economic growth are concerned...
Review of Johnson and Broder, The System ; A couple of very good political journalists (but not policy analysts) recount the story of the death of health care reform in 1993-1994.
The Two New Economies; Some say that in the information age profits will fall as competition becomes stronger; others say that profits will rise as natural monopolies spread. Both are right, but for different sets of industries..
NAFTA's Qualified Success; it is now time to declare NAFTA a success: it has given the forces for Mexican industrialization, modernization, and democratization a boost...

Other New Stuff

Online C.V.
Print C.V.

Recent Economic Data

Data Calendar

CBS Marketwatch

Briefing Room


What I Teach

Current Courses (Fall 2000): Undergraduate Macroeconomics (Advanced); Graduate Macroeconomics II.

Past Courses: Introductory Finance, 20th Century Economic History, Macroeconomics I, Macroeconomics II, Graduate Macroeconomics I, Graduate Macroeconomics II, European Economic History, Introduction to Economic History, Economic History Seminar.

Contact Info: Dept. of Economics, U.C. Berkeley, Berkeley, CA 94720-3880. Phones: 510-643-4027, 925-283-2709. Fax: 925-283-9933. Office Hours: Tuesdays 3:45-4:45, Wednesdays 2:00-3:00; Thursdays 3:45-4:45. Alternatively, phone or e-mail; I'm flexible. Directions to my house.

Economic History (and Related Observations) Page


Topics Covered on This Website

Career | Information Economy | Economists | My Jobs | Multimedia | Other | Politics | Reviews | Students | Teaching | Writing


My Best Writings...

Finance (Domestic and International):
Noise Trader Risk (.pdf); why we shouldn't expect the stock market to be rational...
East Asia in Historical Perspective; why the recent East Asian financial crisis was nothing new...
Is the Stock Market Overvalued?; h*** yes!
Did Morgan's Men Add Value? (.pdf); just how did J.P. Morgan get to be so rich?
In Defense of Mexico's Rescue; why the IMF and global economic integration are good things...
Bull and Bear Markets in the Twentieth Century; the long-term logic of the stock market...

Information Economy:
Tools for Thought; what's new about the new economy...
Microeconomics for Tomorrow's Economy; why Adam Smith's advice may not be so good in the future...

The Shock of the Virtual; how will the computer and communications revolutions change the way we live?...
Ka-ching!: the Amazon Associates Program; Jeff Bezos uses human greed to pull his enterprise forward...
New Economy Forum
; notes for yet another "new economy" meeting...

Politics:
Farewell to the Treasury; what I had to say when I stopped being a public servant...
The Marshall Plan (.pdf); an extraordinary success, the axis on which late twentieth century history has turned...
Where Did the Deficit Come From?; the decisive arguments for Reagan's responsibility for the deficit...
Lessons from Kindergarten; California underfunds its schools...
Deficit Reduction and the Short-Run Outlook; a historical document on the foundations of the Clinton administration economic program...

Economic History:
Slouching Towards Utopia: Old Draft; the economic history of the twentieth century...
Thinking About Wealth and Poverty; David Landes's economic history of the world...
Assessing Changing Business Cycle Volatility; is the business cycle less of a curse than it used to be?...
Inventions in History; where have human technologies been invented?
Equipment Investment and Economic Growth; the importance of machines for technological development...
Productivity Growth, Convergence, and Welfare; the world is becoming a more unequal place...

Business Cycles:
Is Increased Price Flexibility Stabilizing? (.pdf); why more flexible prices may not be good...
Keynesianism on Pennsylvania Avenue (.pdf); how Keynesianism came to America, and what happened...
America's Peacetime Inflation: The 1970s (.pdf); why did America see such inflation in the 1970s?...

My Activities...

Politics:
   What I did in Washington (I worked on a remarkably large share of what the executive branch did between 1993 and 1995). Farewell to the Treasury (a speech I am proud of). Clinton Administration economic policy (remarkably successful--it's nice to see good luck reinforce skill for once).

Teach
     This past spring I taught Economics 210b.
   In the past, I have also taught Business Administration 130 (Introductory Finance; Brealey and Myers), Economics 115 (Twentieth Century Economic History), Economics 100b (Undergraduate Macroeconomics; this website is detailed; includes multimedia files), Economics 101b (Undergraduate Macroeconomics Fall 1999), Economics 202a (Graduate Macroeconomics I), Economics 202b (Graduate Macroeconomics II), Economics 210b (European Economic History), and Economics 210a (Economic History for Graduate Students).

     On education: Jeff Zax on being a section leader. The job market for Ph.D. economists. In praise of economists. Welcoming our new graduate students.

Write
     Look to the left for my best-written articles. I'm writing an economic history of the twentieth century: Slouching Towards Utopia?: 20th Century Economic History.
   A complete list of what I have written (and gotten published, or at least that other people have cited). A list of what I have written and not published.
Interesting Email messages I have written.
   Thoughts on the information economy: Questions on E-commerce, Comments on Electronic Commerce, Rules, New and Old, for the Network Economy, Microeconomics for Tomorrow's Economy, The Shock of the Virtual, How "New" Is Today's Economy?, Ka-ching!: the Amazon Associates Program, A Few Thoughts on "Virtuality".
   Yesterday's economic crisis, centered in East Asia: a historical perspective, the role of the IMF.

   Is the stock market overvalued?

Maintain My Career
     My resume and one page biography. I am a Professor of Economics at the University of California at Berkeley. I am Co-Editor of the Journal of Economic Perspectives. I am a Research Associate at the NBER. I am a Visiting Scholar at the Federal Reserve Bank of San Francisco. For a few months I wrote a monthly "Economic Scene" column for the New York Times; now I write a monthly column for Fortune (which pays much better, and allows more space to develop ideas). I used to be Deputy Assistant Secretary of the United States Treasury for Economic Policy.

Maintain This Site
   Links. Private files (works in progress; mail; my notebook). Create pdf files. The banner at the top of each page in this website is a picture of Earth taken by the Galileo mission: Galileo's abjuration. A larger view of Earth from the Galileo mission. The ozone hole over the South Pole.


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Professor of Economics J. Bradford DeLong, 601 Evans Hall, #3880
University of California at Berkeley
Berkeley, CA 94720-3880
(510) 643-4027 phone; (510) 642-6615 fax
delong@econ.berkeley.edu
http://www.j-bradford-delong.net/

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