THE NEXT RECESSION

For months, economists and politicians have been speculating about the next recession—when it will come, who or what will be to blame, whether or not we are ready, what the government can do to get prepared. The way we think and talk about a coming recession will have lasting consequences for economic policy and for the lives of everyday people. Policymakers, policy experts, advocates, and pundits should begin to think and talk about the possibility of another recession in a way that both reflects the lessons learned from the Great Recession and correctly diagnoses the causes.