Recessions Unmasked: Random Shocks, Not Cycles

Tyler Goodspeeds new book challenges traditional cycle theories, revealing that recessions are caused by random shocks like piracy in the 1700s or oil spikes in 2008. He debunks cycle theories and warns against using fancy models for forecasting, as they often rely on hindsight. Goodspeed argues that recessions protect established firms and workers, hindering startups and newcomers. He advises against austerity measures, suggesting that policymakers should let shocks play out without adding extra burdens. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/b843f04e8e9f94c5