DO WE DESERVE RECESSIONS? Paul Krugman says no, and, for good measure, says the so-called “Austrian theory” of the business cycle (that recessions are the necessary consequence of expansions) is “about as worthy of serious study as the phlogiston theory of fire.”

–Ezra Klein

Ezra Klein is a former Prospect writer and current editor-in-chief at Vox. His work has appeared in the LA Times, The Guardian, The Washington Monthly, The New Republic, Slate, and The Columbia Journalism Review. He’s been a commentator on MSNBC, CNN, NPR, and more.