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Gene Epstein, Barron's Keepers of the record books, take note. Over the 11 calendar quarters since the end of the 2008-09 recession, government's share of gross domestic product has been shrinking at a record rate. True, there were two periods of comparable length when government shrunk faster: the early 1970s and mid-1950s. But both those downsizings were due to demobilizations after relatively major wars — the Vietnam and Korean conflicts, respectively. Read More (Requires Subscription)
2012 Economic Growth Fellow
John Prestbo is retired as editor and executive director of Dow Jones Indexes. Previously he was markets editor at The Wall Street Journal. He has co-authored or edited several books over the past 30 years. The most recent is “The Market’s Measure: An Illustrated History of America Told Through the Dow Jones Industrial Average,” published in 1999 by Dow Jones Indexes. His column, Indexed Investor, appears on the highly regarded “MarketWatch” business and finance website. He received his bachelor's and master's degrees from Northwestern University.Full Bio