72 LO 2 LO 3 LO 4 LO 5 LO 6 LO 7 Management Close-Up HOW CAN LARRY BLANFORD KEEP GREEN MOUNTAIN COFFEE ROASTERS PERKING? In 1981, Bob Stiller began serving his coffee to custompiece of pie or a donut. Not until the mid-1990s did cofers in a tiny Vermont café. He was focused simply on fee brewing became an art form, as the Starbucks-led giving them the highest-quality freshly roasted coffee coffee revolution began to sweep across America. at a reasonable price. As his Green
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THE GREAT RECESSION Since publication of Robert L. Hetzel’s he Monetary Policy of the Federal Reserve (Cambridge University Press, 2008), the intellectual consensus that had characterized macroeconomics has disappeared. hat consensus emphasized eicient markets, rational expectations, and the eicacy of the price system in assuring macroeconomic stability. he 2008–2009 recession not only destroyed the professional consensus about the kinds of models required to understand cyclical luctuations
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