{"id":296,"date":"2012-04-11T10:28:12","date_gmt":"2012-04-11T17:28:12","guid":{"rendered":"https:\/\/blogschapman.wpenginepowered.com\/business\/2012\/04\/11\/underwater-recession-by-joy-a-buchanan-steven-gjerstad-vernon-l-smith\/"},"modified":"2012-04-11T10:28:12","modified_gmt":"2012-04-11T17:28:12","slug":"underwater-recession-by-joy-a-buchanan-steven-gjerstad-vernon-l-smith","status":"publish","type":"post","link":"https:\/\/blogs.chapman.edu\/business\/2012\/04\/11\/underwater-recession-by-joy-a-buchanan-steven-gjerstad-vernon-l-smith\/","title":{"rendered":"&quot;Underwater Recession&quot; By Joy A. Buchanan, Steven Gjerstad, &#038; Vernon L. Smith"},"content":{"rendered":"<p>The article &#8220;Underwater Recession&#8221; authored by Economic Science Institute&#8217;s Professors Steven Gjerstad, Vernon L. Smith and, Graduate of the Economic Systems Design program, Joy Buchanan will be published in The American Interest: Policy, Politics &amp; Culture&#8217;s May\/June 2012 issue.<\/p>\n<p>&#8220;The U.S. economy is stuck in a painfully slow recovery. Neither accommodative monetary policy nor fiscal stimulus has done the trick in generating robust growth, and no one seems to really have a grasp on why. We propose an explanation for why they have not been working, and on that basis we will explicate a feasible path to renewed robust growth.&#8221; <a href=\"http:\/\/www.the-american-interest.com\/article.cfm?piece=1229\" target=\"_blank\">You can continue reading the article online!<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The article &#8220;Underwater Recession&#8221; authored by Economic Science Institute&#8217;s Professors Steven Gjerstad, Vernon L. 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