Veblen-Clark Lecture Series “Uncertainty and the Macroeconomy: Lessons from the Great Depression for Today” by Dr. Christina Romer,

Dr. Romer discussed how tariffs, stock market plunges, and government layoffs had generated significant uncertainty regarding economic policy and the economic outlook. The lecture explored the likely effects of this surge in uncertainty. Dr. Romer suggested that the experience of the U.S. following the Great Crash of the stock market in 1929 provided some clues about potential outcomes. The lecture also considered whether there were reasons to anticipate different outcomes in the present situation compared to the aftermath of the 1929 crash.