Grasping Reality on TypePad, by Brad DeLong

• Kevin Carey argues that universities, at least as unified institutions, are illusions. http://www.nytimes.com/2015/07/24/upshot/the-fundamental-way-that-universities-are-an-illusion.html?partner=rss&emc=rss&abt=0002&abg=0

• Izabella Kaminska draws out the connection between the decline in ‘petrodollars’ and global currency reserves. http://ftalphaville.ft.com/2015/07/23/2135091/with-petrodollars-also-go-global-reserves/

• We often use the Great Depression in the United States as the benchmark for the worst recession in history. But is that true? Frances Coppola looks at the data. http://coppolacomment.blogspot.com/2015/07/not-such-great-depression.html

• Noah Smith worries that the decline of manufacturing will take away of key source of growth for low-income countries. http://www.bloombergview.com/articles/2015-07-20/will-the-world-ever-have-fast-economic-growth-again-

Source: http://equitablegrowth.org/research/declining-labor-force-participation-rate-causes-consequences-path-forward/