Opinion pieces and speeches by EPI staff and associates.

[ THIS PIECE ORIGINALLY APPEARED IN THE HUFFINGTON POST ON JULY 20, 2008.]

The Shampoo Economy

By Jared Bernstein

Bubble, bust, repeat...bubble, bust, repeat...bubble, bust, repeat...

For the last few decades, that's been the American growth recipe. The damage done by these cycles is evident in both the current downturn and the daily headlines featuring systemic failures large and small. But what may be unique about today's climate is that this dysfunctional process is clear to anyone willing to take close look at it. This should be especially notable to that group whose approval rating just hit record lows: the US Congress.

Read the rest of this piece here.

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Jared Bernstein is a senior economist at the Economic Policy Institute in Washington, D.C.

[ POSTED TO VIEWPOINTS ON AUGUST 4, 2008. ]