J. Bradford DeLong
James Bradford "Brad" DeLong (born June 24, 1960) is an economic historian who is professor of Economics at the University of California, Berkeley. DeLong served as Deputy Assistant Secretary of the U.S. Department of the Treasury in the Clinton Administration under Lawrence Summers.
J. Bradford DeLong
Brad DeLong in October 2010
|Institution||University of California, Berkeley|
|New Keynesian economics|
|Alma mater||B.A. (1982), M.A. (1985), Ph.D. (1987), Harvard University|
John Maynard Keynes
|Information at IDEAS / RePEc|
He is an active blogger whose "Grasping Reality with Both Invisible Hands" covers political and economic issues as well as criticism of their media coverage. According to the 2019 ranking of economists by Research Papers in Economics, DeLong is the 746th most influential economist.
Education and careerEdit
After earning his PhD, he taught economics at universities in the Boston area, including MIT, Boston University, and Harvard University, from 1987 to 1993. He was a John M. Olin Fellow at the National Bureau of Economic Research in 1991–1992.
He joined UC Berkeley as an associate professor in 1993. From April 1993 to May 1995, he served as Deputy Assistant Secretary for Economic Policy at the U.S. Department of the Treasury in Washington, D.C. He served under As an official in the Treasury Department in the Clinton administration, he worked on the 1993 federal budget, the unsuccessful health care reform effort, and on other policies, and on several trade issues, including the Uruguay Round of the General Agreement on Tariffs and Trade and the North American Free Trade Agreement. He became a full professor at Berkeley in 1997 and has been there ever since.
Along with Joseph Stiglitz and Aaron Edlin, DeLong is co-editor of The Economists' Voice, and has been co-editor of the widely read Journal of Economic Perspectives. He is also the author of a textbook, Macroeconomics, the second edition of which he coauthored with Martha Olney. He co-edited (with Heather Boushey and Marshall Steinbaum) the book After Piketty: The Agenda for Economics and Inequality (2017), a volume of 22 essays about how to integrate inequality into economic thinking. He writes a monthly syndicated op-ed column for Project Syndicate.
DeLong considers himself a free trade liberal. He has cited Adam Smith, John Maynard Keynes, Andrei Shleifer, Milton Friedman, and Lawrence Summers (with whom he has co-authored numerous papers) as the economists who have had the greatest influence on his views.
In 1990 and 1991 DeLong and Lawrence Summers co-wrote two theoretical papers that were to become critical theoretical underpinnings for the financial deregulation put in place when Summers was Secretary of the Treasury under Bill Clinton.
DeLong has been a critic of his Berkeley colleague, John Yoo, a law professor who worked in the Office of Legal Counsel under President George W. Bush. Yoo authored the torture memos authorizing the Bush administration to use torture during the war on terror, and crafting the unitary executive theory. DeLong wrote a letter to the Berkeley Chancellor Robert Birgeneau calling for Yoo's dismissal in February 2009.
In 2019, DeLong said that he and other neoliberals had been “certainly wrong, 100 percent, on the politics” of economic policies. While he continued to believe that “good incremental policies” might be superior, he concluded that they were unattainable politically, because of the absence of Republicans willing to work toward such goals. Instead, DeLong said, he favored "Medicare-for-all, funded by a carbon tax, with a whole bunch of [Universal Basic Income] rebates for the poor and public investment in green technologies." He concluded, "The world appears to be more like what lefties thought it was than what I thought it was for the last 10 or 15 years."
DeLong maintains a political commentary site, "Brad DeLong's Egregious Moderation", and contributed to Shrillblog, a blog critical of the Republican Party and the Bush administration. The blog originated in a conversation among DeLong, Tyler Cowen, and Andrew Northrup regarding the use of the term "shrill" as a criticism of New York Times columnist and fellow academic economist Paul Krugman.
According to his faculty webpage, his research interests include "comparative technological and industrial revolutions; finance and corporate control; economic growth; the rise and fall of social democracy; the long-term shape of economic history; the political economy of monetary and fiscal policy; financial crises and 20th century macroeconomics; behavioral finance; history of economic thought; the rise of the west; causes of the Great Depression".
- "Noise Trader Risk in Financial Markets" (Journal of Political Economy, 1990; co-authored with Andrei Shleifer, Lawrence Summers, and Robert Waldmann)
- "Equipment Investment and Economic Growth" (Quarterly Journal of Economics, May 1991; co-authored with Lawrence Summers)
- "In Defense of Mexico's Rescue" (Foreign Affairs, 1996; co-authored with Christopher DeLong and Sherman Robinson)
- "Princes and Merchants: European City Growth before the Industrial Revolution" (Journal of Law and Economics 1993; co-authored with Andrei Shleifer)
- "The Marshall Plan: History's Most Successful Structural Adjustment Programme" (in R. Dornbusch et al., eds., Postwar Economic Reconstruction and Lessons for the East, Cambridge: M.I.T., 1993; co-authored with Barry Eichengreen) doi:10.3386/w3899
- "Between Meltdown and Moral Hazard: The International Monetary and Financial Policy of the Clinton Administration" (co-authored with Barry J. Eichengreen)
- "Review of Robert Skidelsky (2000), John Maynard Keynes, volume 3, Fighting for Britain" (Journal of Economic Literature, 2002)
- "The Triumph of Monetarism?" (Journal of Economic Perspectives, 2000)
- "Asset Returns and Economic Growth" (Brookings Papers on Economic Activity, 2005; co-authored with Dean Baker and Paul Krugman)
- "Productivity Growth in the 2000s"[permanent dead link] (NBER Macroeconomics Annual 2003)
- "The New Economy: Background, Questions, Speculations" (Economic Policies for the Information Age, 2002; co-authored with Lawrence Summers)
- "Speculative Microeconomics for Tomorrow's Economy" (First Monday, 2000; co-authored with Michael Froomkin)
- "America's Peacetime Inflation" (in Reducing Inflation, 1998)
- "Keynesianism Pennsylvania-Avenue Style" (Journal of Economic Perspectives, 1996)
- "Productivity and Machinery Investment: A Long-Run Look, 1870-1980" (Journal of Economic History, June 1992)
- "The Stock Market Bubble of 1929: Evidence from Closed-End Funds" (Journal of Economic History, September 1991; co-authored with Andrei Shleifer)
- David Wessel, In Fed We Trust: Ben Bernanke's War on the Great Panic, page 4. Crown Business, 2009.
- email@example.com. "Economist Rankings - IDEAS/RePEc". ideas.repec.org. Retrieved 29 October 2017.
- "Vitae: J. Bradford DeLong". National Bureau of Economic Research. Retrieved 12 March 2015.
- "RePEc Genealogy page for James Bradford DeLong". RePEc Genealogy. Retrieved 6 November 2019.
- "J. Bradford DeLong". University of California, Berkeley. Retrieved 12 March 2015.
- "This Is Brad DeLong's Grasping Reality...: Brad DeLong's Short Biography". Retrieved 2014-04-28.
- "The Economists' Voice". Bepress.com. Retrieved 2014-04-28.
- "A $1.12 Million Bet on the Berkeley, CA Housing Market". This Is Brad DeLong's Grasping Reality... 2012-01-23. Retrieved 2014-04-28.
- "One Page Biography James Bradford DeLong". Brad DeLong. Archived from the original on 2010-06-24. Retrieved 2010-10-20.
- "Ann Marie Marciarille » Faculty Directory - UMKC School of Law". law.umkc.edu. Retrieved 29 October 2017.
- Brad DeLong (April 17, 2003). "Uncle Milton: Archive Entry From Brad DeLong's Webjournal". Archived from the original on August 28, 2008. Retrieved 2014-04-28.
- "The Democratic Primaries Are Over". This Is Brad DeLong's Grasping Reality... March 5, 2008. Retrieved 2014-04-28.
- "I Never Thought I Would Grow Up to Be the Kind of Crank Who Wrote Letters to the Chancellor Trying to Get My Colleagues Fired". This Is Brad DeLong's Grasping Reality... February 17, 2009. Retrieved 2014-04-28.
- Beauchamp, Zack (March 4, 2019). "A Clinton-era centrist Democrat explains why it's time to give democratic socialists a chance". Vox. Vox Media. Retrieved 2019-12-01.
- "Brad DeLong's Egregious Moderation". Delong.typepad.com. 2010-03-05. Retrieved 2014-04-28.
- "shrillblog.blogspot.com". shrillblog.blogspot.com. Retrieved 2014-04-28.
- "The History of the Shrill". This Is Brad DeLong's Grasping Reality... 2006-07-27. Retrieved 2014-04-28.
- "Brad DeLong : J. Bradford DeLong's Academic CV". Delong.typepad.com. Retrieved 2014-04-28.
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