This is not Thomas Jefferson's economy
Stan Veuger | US News & World Report
July 18, 2013

Statue of Thomas Jefferson by Shutterstock.com

    Download

Article Highlights

  • The US economy is vast & complex - which helps explain why the financial crisis hit so hard

    Tweet This

  • New research shows how interconnected US economy is

    Tweet This

  • Credit crunches hurt today's economy 4 times more than if it weren't interconnected

    Tweet This

The U.S. economy bears little resemblance to the Jeffersonian ideal populists on both left and right sometimes appear to strive towards: a nation of small businesses owned by Midwestern families, ideally headed by yeoman farmers. This has all kinds of implications.

Some are practical and obvious. For example, you are currently staring at what is probably a thin film transistor liquid crystal display that shows you a text magically transported to you through a network of tubes, instead of at a threatening mob of furious villagers demanding the invention of air conditioning. Others are more abstract and less obvious, yet crucial in shaping our understanding of macroeconomic phenomena such as the financial crisis and the ensuing Great Recession.

The full text of this article is available on US News & World Report’s website. It will be posted to AEI.org on Thursday, July 25, 2013.

    Download
Also Visit
AEIdeas Blog The American Magazine
About the Author

 

Stan
Veuger

  • Stan Veuger's research focuses on the intersection of economic and political behavior. In particular, he has researched voter behavior, political activism, banking supervision, and policy uncertainty. At AEI, Veuger is concentrating on the impact of the Tea Party movement, on the relationship between job losses and economic policy uncertainty, and on the design of various social insurance programs.


     


    Follow Stan Veuger on Twitter.

  • Phone: 202-862-5894
    Email: stan.veuger@aei.org

  • Assistant Info

    Name: Emma Bennett
    Phone: 202-862-5862
    Email: emma.bennett@aei.org
Show More | See Full Profile

What's new on AEI

image The Pentagon’s illusion of choice: Hagel’s 2 options are really 1
image Wild about Larry
image Primary care as affordable luxury
image Solving the chicken-or-egg job problem
close

Join the AEI Media List

AEI's press office frequently sends press advisories highlighting the availability of scholars to discuss particular news topics, as well as recent AEI products (such as studies, articles, and testimonies). Please enter your contact information below to be added to our media list.
JOIN MEDIA LIST
AEI on Facebook
Events Calendar
  • 29
    MON
  • 30
    TUE
  • 31
    WED
  • 01
    THU
  • 02
    FRI
Monday, July 29, 2013 | 10:30 a.m. – 11:30 a.m.
Squaring the circle: General Raymond T. Odierno on American military strategy in a time of declining resources

AEI’s Marilyn Ware Center for Security Studies will host General Raymond Odierno, chief of staff of the US Army, for the second installment of a series of four events with each member of the Joint Chiefs.

Tuesday, July 30, 2013 | 12:00 p.m. – 1:15 p.m.
The Trans-Pacific Partnership and 21st Century Trade Agreements

Please join AEI for a briefing on the TPP and the current trade agenda from 12:00 – 1:15 on Tuesday, July 30th in 106 Dirksen Senate Office Building.

Thursday, August 01, 2013 | 8:10 a.m. – 1:30 p.m.
International conference on collateral risk: Moderating housing cycles and their systemic impact

Experts from the US, Europe, Canada, and Asia will address efforts to moderate housing cycles using countercyclical lending policies.

Event Registration is Closed
No events scheduled this day.
No events scheduled this day.
No events scheduled today.
No events scheduled this day.
No events scheduled this day.