CAN WE AVOID ANOTHER FINANCIAL CRISIS THE FUTURE OF CAPITALISM

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Can We Avoid Another Financial Crisis

Author : Steve Keen
ISBN : 9781509513765
Genre : Political Science
File Size : 58.67 MB
Format : PDF
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The Great Financial Crash had cataclysmic effects on the global economy, and took conventional economists completely by surprise. Many leading commentators declared shortly before the crisis that the magical recipe for eternal stability had been found. Less than a year later, the biggest economic crisis since the Great Depression erupted. In this explosive book, Steve Keen, one of the very few economists who anticipated the crash, shows why the self-declared experts were wrong and how ever–rising levels of private debt make another financial crisis almost inevitable unless politicians tackle the real dynamics causing financial instability. He also identifies the economies that have become 'The Walking Dead of Debt', and those that are next in line – including Australia, Belgium, China, Canada and South Korea. A major intervention by a fearlessly iconoclastic figure, this book is essential reading for anyone who wants to understand the true nature of the global economic system.
Category: Political Science

Can We Avoid Another Financial Crisis

Author : Steve Keen
ISBN : 1509513728
Genre : Political Science
File Size : 64.6 MB
Format : PDF
Download : 212
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The Financial Crash that convulsed the world in 2008 had cataclysmic effects on the global economy, and took conventional economists completely by surprise. Many leading commentators, taken in by the hubris of economics, declared shortly before the crisis that the magical recipe for eternal stability had been found. Less than a year later, the biggest economic crisis since the Great Depression erupted. In this compelling and explosive book, Steve Keen, one of the very few economists who anticipated the crash, shows why the self-declared experts were wrong and offers a realistic, monetary approach to economics that can warn of crises before they happen. He shows how ever-rising levels of private debt make another financial crisis almost inevitable unless politicians tackle the real dynamics causing financial instability. He also identifies the economies that have become ?The Walking Dead of Debt?, and those that are next in line to join them - including China, Canada and Australia. A major intervention by a fearlessly iconoclastic figure in modern political economy, this book is essential reading for anyone who wants to understand the true nature of the global economic system and the challenges facing it.
Category: Political Science

Can We Avoid Another Financial Crisis

Author : Steve Keen
ISBN : 1509513736
Genre : Political Science
File Size : 50.49 MB
Format : PDF, ePub, Mobi
Download : 226
Read : 851

The Great Financial Crash had cataclysmic effects on the global economy, and took conventional economists completely by surprise. Many leading commentators declared shortly before the crisis that the magical recipe for eternal stability had been found. Less than a year later, the biggest economic crisis since the Great Depression erupted. In this explosive book, Steve Keen, one of the very few economists who anticipated the crash, shows why the self-declared experts were wrong and how ever-rising levels of private debt make another financial crisis almost inevitable unless politicians tackle the real dynamics causing financial instability. He also identifies the economies that have become ?The Walking Dead of Debt?, and those that are next in line ‒ including Australia, Belgium, China, Canada and South Korea. A major intervention by a fearlessly iconoclastic figure, this book is essential reading for anyone who wants to understand the true nature of the global economic system.
Category: Political Science

Debunking Economics Digital Edition Revised Expanded And Integrated

Author : Professor Steve Keen
ISBN : 9781780322193
Genre : Business & Economics
File Size : 35.92 MB
Format : PDF, Mobi
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Debunking Economics exposes what many non-economists may have suspected and a minority of economists have long known: that economic theory is not only unpalatable, but also plain wrong. When the original Debunking was published back in 2001, the market economy seemed invincible, and conventional 'neoclassical' economic theory basked in the limelight. Steve Keen argued that economists deserved none of the credit for the economy's performance, and that 'the false confidence it has engendered in the stability of the market economy has encouraged policy-makers to dismantle some of the institutions which initially evolved to try to keep its instability within limits'. That instability exploded with the devastating financial crisis of 2007, and now haunts the global economy with the prospect of another Depression. In this radically updated and greatly expanded new edition - this version of which includes fully integrated graphs and diagrams - Keen builds on his scathing critique of conventional economic theory whilst explaining what mainstream economists cannot: why the crisis occurred, why it is proving to be intractable, and what needs to be done to end it. Essential for anyone who has ever doubted the advice or reasoning of economists, Debunking Economics provides a signpost to a better future.
Category: Business & Economics

The Coming First World Debt Crisis

Author : A. Pettifor
ISBN : 9780230236752
Genre : Political Science
File Size : 49.12 MB
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In this book, Ann Pettifor examines the issues of debt affecting the 'first world' or OECD countries, looking at the history, politics and ethics of the coming debt crisis and exploring the implications of high international indebtedness for governments, corporations, households, individuals and the ecosystem.
Category: Political Science

21st Century Capitalism

Author : Robert L. Heilbroner
ISBN : 9780393312287
Genre : Business & Economics
File Size : 57.64 MB
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Reflecting on the end of communism, the author of the best-selling The Worldly Philosophers examines the many faces of capitalism, looking for the aspects of a market economy that will be most capable of succeeding against today's toughest dilemmas.
Category: Business & Economics

The Next Economic Disaster

Author : Richard Vague
ISBN : 9780812291100
Genre : Political Science
File Size : 73.58 MB
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Current debates about economic crises typically focus on the role that public debt and debt-fueled public spending play in economic growth. This illuminating and provocative work shows that it is the rapid expansion of private rather than public debt that constrains growth and sparks economic calamities like the financial crisis of 2008. Relying on the findings of a team of economists, credit expert Richard Vague argues that the Great Depression of the 1930s, the economic collapse of the past decade, and many other sharp downturns around the world were all preceded by a spike in privately held debt. Vague presents an algorithm for predicting crises and argues that China may soon face disaster. Since American debt levels have not declined significantly since 2008, Vague believes that economic growth in the United States will suffer unless banks embrace a policy of debt restructuring. All informed citizens, but especially those interested in economic policy and history, will want to contend with Vague's distressing arguments and evidence.
Category: Political Science

Stabilizing An Unstable Economy

Author : Hyman Minsky
ISBN : 9780071593007
Genre : Business & Economics
File Size : 31.96 MB
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“Mr. Minsky long argued markets were crisis prone. His 'moment' has arrived.” -The Wall Street Journal In his seminal work, Minsky presents his groundbreaking financial theory of investment, one that is startlingly relevant today. He explains why the American economy has experienced periods of debilitating inflation, rising unemployment, and marked slowdowns-and why the economy is now undergoing a credit crisis that he foresaw. Stabilizing an Unstable Economy covers: The natural inclination of complex, capitalist economies toward instability Booms and busts as unavoidable results of high-risk lending practices “Speculative finance” and its effect on investment and asset prices Government's role in bolstering consumption during times of high unemployment The need to increase Federal Reserve oversight of banks Henry Kaufman, president, Henry Kaufman & Company, Inc., places Minsky's prescient ideas in the context of today's financial markets and institutions in a fascinating new preface. Two of Minsky's colleagues, Dimitri B. Papadimitriou, Ph.D. and president, The Levy Economics Institute of Bard College, and L. Randall Wray, Ph.D. and a senior scholar at the Institute, also weigh in on Minsky's present relevance in today's economic scene in a new introduction. A surge of interest in and respect for Hyman Minsky's ideas pervades Wall Street, as top economic thinkers and financial writers have started using the phrase “Minsky moment” to describe America's turbulent economy. There has never been a more appropriate time to read this classic of economic theory.
Category: Business & Economics

The Rise And Fall Of Money Manager Capitalism

Author : Eric Tymoigne
ISBN : 9781135076726
Genre : Business & Economics
File Size : 42.9 MB
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The book studies the trends that led to the worst financial crisis since the Great Depression, as well as the unfolding of the crisis, in order to provide policy recommendations to improve financial stability. The book starts with changes in monetary policy and income distribution from the 1970s. These changes profoundly modified the foundations of economic growth in the US by destroying the commitment banking model and by decreasing the earning power of households whose consumption has been at the core of the growth process. The main themes of the book are the changes in the financial structure and income distribution, the collapse of the Ponzi process in 2007, and actual and prospective policy responses. The objective is to show that Minsky’s approach can be used to understand the making and unfolding of the crisis and to draw some policy implications to improve financial stability.
Category: Business & Economics

Never Let A Serious Crisis Go To Waste How Neoliberalism Survived The Financial Meltdown

Author : Philip Mirowski
ISBN : 9781781680797
Genre : Political Science
File Size : 63.75 MB
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After the financial apocalypse, neoliberalism rose from the dead—stronger than ever At the onset of the Great Recession, as house prices sank and joblessness soared, many commentators thought that neoliberalism itself was in its death throes. And yet it seems that—post-apocalypse—we’ve awoken into a second nightmare more ghastly than the first: a political class still blaming government intervention, a global drive for austerity, stagflation, and exploding sovereign debt crises. Philip Mirowski argues that, as in classic studies of cognitive dissonance, neoliberal thought has become so pervasive that any countervailing evidence serves only to further convince disciples of its ultimate truth. Once neoliberalism became a Theory of Everything—a revolutionary account of self, knowledge, information, markets, and government—it could no longer be falsified by mere data from the ‘real’ economy. In this sharp, witty and deeply informed account—taking no prisoners in his pursuit of ‘zombie’ economists—Mirowski surveys the wreckage of what passes for economic thought, and finally provides the basis for an anti-neoliberal account of the current crisis and our future prospects.
Category: Political Science