Wretched Excess.

RECESSIONS; UNITED States economy, 2001-2009; GREENSPAN, Alan, 1926-; BOARD of Governors of the Federal Reserve System (U.S.); INTEREST rates; TAX cuts; GOVERNMENT spending policy; CONSUMERS; AMERICAN business enterprises; CAPITAL investments; SCHUMPETER, Joseph Alois, 1883-1950; ECONOMISTS

Focuses on recession in the United States. Strategy of Chairman Alan Greenspan and the Federal Reserve to cut interest rates and use monetary policy to prevent recession; Use of tax cuts of government spending to put extra money into the hands of consumers and businesses; View that the recession was not caused by a change in consumer spending, but in business spending; Discussion of the business cycle; Issues related to capital spending; Information on the model developed by economist Joseph Schumpeter.