BIRTHDAY OF THE DAY: Jared Bernstein, senior fellow at the Center on Budget and Policy Priorities and a Biden alum

How/where are you celebrating your birthday and with whom? “Since my birthday is the day after Christmas, which we celebrate (along with Hanukkah!), everybody’s just recovering from the day before, so it’s usually a mellow day with the family. At some point in the afternoon, people remember it’s my birthday. For the record, I’m not complaining. I’ve had 61 birthdays so far, so … no big deal.”

How did you get your start in political economics? “I used to be a social worker in New York City. There, I saw the systemic nature of problems that beset my clients and wanted to intervene at a higher level of policy. I was drawn to economics because the emphasis on quantitative and empirical outcomes resonated with me. Unfortunately, we’ve lost that emphasis for the time being.”


What’s an interesting book/article you’re reading now or finished? And why?

“I recently read the wonderfully engrossing novel ‘City of Thieves’ by David Benioff. That got me interested in the siege of Leningrad that began in 1941, so I’m now slogging through an account of the siege: ‘900 Days’ by Harrison Salisbury. The horrific damage done by the combination of German fascism and Russian government failure seems like something everyone should be thinking about today.

What is a trend going on in the U.S. or abroad that doesn’t get enough attention?

“I think neither U.S. nor European economies are even close to ready to offset the next recession, especially if it’s of any significant depth. To be clear, neither I nor anyone else knows when it’s coming, but I fear that advanced economies will have too little fiscal and monetary space for fight it when it arrives. Relatedly, here in the U.S. we’re quietly over-deregulating financial markets, which always leads to nasty asset bubbles.”

How is the Trump presidency going? “Hey, it’s my birthday! Can’t I get a day off from the chaos and dysfunction of this presidency? To me, the main thing to recognize is how thoroughly the Trump presidency has abandoned any agenda to help the working class in favor of the traditional, Republican upward redistribution of income and wealth.”

What’s a fun fact that people in Washington might not know about you? “I’m a pretty decent bass player, especially for an economist!”

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