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ADA Updates

ADA President Speaks to the NY Times
Posted Aug 06 2008 at 3:22 PM
Updates >>

ADA's President, Richard Parker, was interviewed by the New York Times for an article on the U.S. economy.  As the economy continues to struggle, the Times interviewed 8 economists to better understand what caused the current downturn and asked if things could get worse.

Parker stated that, unlike during the Great Depression, "the government is larger now and it acts as an anchor" and therefore it is unlikely the country will experience another depression.  However, lack of regulation and market oversight was a contributing factor in the mortgage and credit crises that have pulled the economy into a recession.

“Wild fluctuations have made it harder and harder for the average American family to improve their lives. You need to strike a balance between freedom and security for your citizens. This is a democracy, but we need to pick between a market-led democracy and democracy-led markets,” Parker told the Times.