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Author: Martin Neil Baily Publisher: Hoover Institution Press ISBN: 0817917845 Category : Business & Economics Languages : en Pages : 417
Book Description
The financial crisis of 2008 devastated the American economy and caused U.S. policymakers to rethink their approaches to major financial crises. More than five years have passed since the collapse of Lehman Brothers, but questions still persist about the best ways to avoid and respond to future financial crises. In Across the Great Divide, a co-publication with Brookings Institution, contributing economic and legal scholars from academia, industry, and government analyze the financial crisis of 2008, from its causes and effects on the U.S. economy to the way ahead. The expert contributors consider post-crisis regulatory policy reforms and emerging financial and economic trends, including the roles played by highly accommodative monetary policy, securitization run amok, government-sponsored enterprises (GSEs), large asset bubbles, excessive leverage, and the Federal funds rate, among other potential causes. They discuss the role played by the Federal Reserve and examine the concept of "too big to fail." And they review and assess resolution frameworks, considering experiences with Lehman Bros. and other firms in the crisis, Title II of the Dodd-Frank Act, and the Chapter 14 bankruptcy code proposal.
Author: Martin Neil Baily Publisher: Hoover Institution Press ISBN: 0817917845 Category : Business & Economics Languages : en Pages : 417
Book Description
The financial crisis of 2008 devastated the American economy and caused U.S. policymakers to rethink their approaches to major financial crises. More than five years have passed since the collapse of Lehman Brothers, but questions still persist about the best ways to avoid and respond to future financial crises. In Across the Great Divide, a co-publication with Brookings Institution, contributing economic and legal scholars from academia, industry, and government analyze the financial crisis of 2008, from its causes and effects on the U.S. economy to the way ahead. The expert contributors consider post-crisis regulatory policy reforms and emerging financial and economic trends, including the roles played by highly accommodative monetary policy, securitization run amok, government-sponsored enterprises (GSEs), large asset bubbles, excessive leverage, and the Federal funds rate, among other potential causes. They discuss the role played by the Federal Reserve and examine the concept of "too big to fail." And they review and assess resolution frameworks, considering experiences with Lehman Bros. and other firms in the crisis, Title II of the Dodd-Frank Act, and the Chapter 14 bankruptcy code proposal.
Author: Moishe Postone Publisher: South Atlantic Quarterly ISBN: 9780822367642 Category : Education Languages : en Pages : 0
Book Description
This special issue examines the global economic crisis in systemic terms that encompass economic, social, and cultural dimensions of contemporary life. The essays analyze not only the nature of the crisis but also the possibilities of transformative action. One contributor evaluates the historical structural causes of the contemporary crisis to propose future tactics for the Left in promoting egalitarian and locally autonomous and self-sufficient economic practices. Another explores crises in the global pharmaceutical industry, particularly in India and the United States, and the inherent structures of global capital and biocapital through which health itself becomes a source of capitalistic value. Another essay reads the current credit crisis as a way to illuminate how deeply financial markets are embedded in the social fabric of work, ritual, and play and how the persistent failure to regulate market rule has led to an endless cycle of crisis-induced and crisis-inducing restructuring of policy. Together, the essays reinvigorate the study of global and long-term historical processes and structures. In this issue's special topical section, "Against the Day," edited by Priyamvada Gopal, contributors analyze the current assault on higher education in Great Britain, including dramatic budget cuts and tuition increases, the resultant student protest movements, and the future of the humanities. Contributors: Giovanni Arrighi, Gurminder Bhambra, Neil Brenner, Duncan K. Foley, Priyamvada Gopal, Michael Hardt, Gary Herrigel, John Holmwood, Simon Jarvis, Benjamin Lee, Edward LiPuma, Claudio Lomnitz, Jamie Peck, Moishe Postone, Nina Power, Kaushik Sunder Rajan, Beverly Silver, Nik Theodore, Immanuel Wallerstein Moishe Postone is Professor of History at the University of Chicago.
Author: Emiliano Brancaccio Publisher: Routledge ISBN: 1136724168 Category : Business & Economics Languages : en Pages : 344
Book Description
Why did the economists of the so-called "mainstream" seem to fail to foresee the global economic crisis that exploded in 2008? And why do they appear to have difficulty in putting forward an interpretation of it that is consistent with the theoretical foundations of their models? These two questions have echoed insistently since the outbreak of the crisis, not only in academic circles but also in the mass media, and appear to reflect increasingly widespread dissatisfaction with the dominant paradigm of economic theory. Many believe that the global recession now underway may constitute an historic watershed for the evolution of economics and therefore that an authentic change of paradigm is called for, rather than only minor adjustments to the dominant approach. Since the start of the crisis, there has indeed been a profusion of contributions from alternative areas of economic study, and in particular from those adopting a critical stance with respect to mainstream economic theory. This collection puts forward promising reinterpretations of the primary schools of heterodox political economy, stringent critiques of the conventional readings of the recession, new schemes of theoretical and empirical analysis of the crisis, and proposals for economic policies alternative to those hitherto adopted. This book contains a selection of some of the most recent contributions to the critique of mainstream economic theory and policy, and discusses the origins and possible evolutions of the current economic crisis. The collection should be of interest to students and researchers focussing on macroeconomics, monetary economics, political economy and financial economics.
Author: Geoffrey Parker Publisher: Yale University Press ISBN: 0300189192 Category : History Languages : en Pages : 944
Book Description
The acclaimed historian demonstrates a link between climate change and social unrest across the globe during the mid-17th century. Revolutions, droughts, famines, invasions, wars, regicides, government collapses—the calamities of the mid-seventeenth century were unprecedented in both frequency and severity. The effects of what historians call the "General Crisis" extended from England to Japan and from the Russian Empire to sub-Saharan Africa and the Americas. In this meticulously researched volume, historian Geoffrey Parker presents the firsthand testimony of men and women who experienced the many political, economic, and social crises that occurred between 1618 to the late 1680s. He also incorporates the scientific evidence of climate change during this period into the narrative, offering a strikingly new understanding of the General Crisis. Changes in weather patterns, especially longer winters and cooler and wetter summers, disrupted growing seasons and destroyed harvests. This in turn brought hunger, malnutrition, and disease; and as material conditions worsened, wars, rebellions, and revolutions rocked the world.
Author: Keith Hart Publisher: Berghahn Books ISBN: 1782384685 Category : Social Science Languages : en Pages : 246
Book Description
The Cold War was fought between “state socialism” and “the free market.” That fluctuating relationship between public power and private money continues today, unfolding in new and unforeseen ways during the economic crisis. Nine case studies -- from Southern Africa, South Asia, Brazil, and Atlantic Africa – examine economic life from the perspective of ordinary people in places that are normally marginal to global discourse, covering a range of class positions from the bottom to the top of society. The authors of these case studies examine people’s concrete economic activities and aspirations. By looking at how people insert themselves into the actual, unequal economy, they seek to reflect human unity and diversity more fully than the narrow vision of conventional economics.
Author: Hanc?-Azizoglu, Eda Ba?ak Publisher: IGI Global ISBN: 179986734X Category : Language Arts & Disciplines Languages : en Pages : 419
Book Description
Crises often leave people in vulnerable situations in which a moment in time can function as a turning point of a catastrophic situation for the better or worse. From another perspective, the concept of crisis signifies losing control of everyday privileges, such as that of a pandemic. Therefore, the interaction of rhetoric and sociolinguistics in times of crisis is inevitable. It is crucial to internalize how rhetoric, an effective skill from ancient times to make meaning of sociological breakthrough events, changed the course of events as well as the fate of humanity. Within the same context, research should focus on diverse disciplines to explore, investigate, and analyze the concept of “crisis” from global, sociolinguistic, and rhetorical perspectives. Rhetoric and Sociolinguistics in Times of Global Crisis explores and situates the concept of global crisis within rhetoric and sociolinguistics as well as other disciplines such as education, technology, society, language, and politics. The chapters included bridge the gap to initiate a discussion on understanding how rhetoric and sociolinguistics can create critical awareness for individuals, societies, and learning environments during times of crisis. While highlighting concepts such as rhetorical evolution, political rhetoric, digital writing, and communications, this book is a valuable reference tool for language teachers, writing experts, communications specialists, politicians and government officials, academicians, researchers, and students working and studying in fields that include rhetoric, education, linguistics, culture, media, political science, and communications.
Author: Rania Antonopoulos Publisher: Routledge ISBN: 1136754997 Category : Business & Economics Languages : en Pages : 355
Book Description
With the full effects of the Great Recession still unfolding, this collection of essays analyses the gendered economic impacts of the crisis. The volume, from an international set of contributors, argues that gender-differentiated economic roles and responsibilities within households and markets can potentially influence the ways in which men and women are affected in times of economic crisis. Looking at the economy through a gender lens, the contributors investigate the antecedents and consequences of the ongoing crisis as well as the recovery policies adopted in selected countries. There are case studies devoted to Latin America, transition economies, China, India, South Africa, Turkey, and the USA. Topics examined include unemployment, the job-creation potential of fiscal expansion, the behavioral response of individuals whose households have experienced loss of income, social protection initiatives, food security and the environment, shedding of jobs in export-led sectors, and lessons learned thus far. From these timely contributions, students, scholars, and policymakers are certain to better understand the theoretical and empirical linkages between gender equality and macroeconomic policy in times of crisis.
Author: William I. Robinson Publisher: Cambridge University Press ISBN: 1316062554 Category : Social Science Languages : en Pages :
Book Description
This exciting new study provides an original and provocative exposé of the crisis of global capitalism in its multiple dimensions - economic, political, social, ecological, military, and cultural. Building on his earlier works on globalization, William I. Robinson discusses the nature of the new global capitalism, the rise of a globalized production and financial system, a transnational capitalist class, and a transnational state and warns of the rise of a global police state to contain the explosive contradictions of a global capitalist system that is crisis-ridden and out of control. Robinson concludes with an exploration of how diverse social and political forces are responding to the crisis and alternative scenarios for the future.
Author: Maurice Obstfeld Publisher: Edward Elgar Publishing ISBN: 178100630X Category : Business & Economics Languages : en Pages : 291
Book Description
In 2008, the global economy experienced the most severe crash since World War II. A sharp collapse in international trade followed, leaving no country on the globe immune to a sequence of economic shocks. This timely book explores many of the key issues raised in the wake of the global economic crisis and provides an in-depth analysis of crisis transmission to emerging markets. The expert contributors compare the recent crisis with earlier crises, explore international aspects of the crisis from the perspectives of markets and trade, and examine macroeconomic policy responses. In so doing, they address important questions including: How did this crisis differ from those suffered previously? How and why did flaws in financial markets contribute to the crisis? How important were global imbalances and global overheating in explaining the global meltdown? Did different pre-crisis fundamentals generate different post-crisis performances? And, how severe were the economic shocks to countries such as Korea and other emerging economies? Academics, students and policymakers in the fields of economics, international economics, finance money and banking and Asian studies will find this book to be a thought-provoking and stimulating read.
Author: Gary B. Gorton Publisher: Oxford University Press ISBN: 0199986886 Category : Business & Economics Languages : en Pages : 296
Book Description
Before 2007, economists thought that financial crises would never happen again in the United States, that such upheavals were a thing of the past. Gary B. Gorton, a prominent expert on financial crises, argues that economists fundamentally misunderstand what they are, why they occur, and why there were none in the U.S. from 1934 to 2007. Misunderstanding Financial Crises offers a back-to-basics overview of financial crises, and shows that they are not rare, idiosyncratic events caused by a perfect storm of unconnected factors. Instead, Gorton shows how financial crises are, indeed, inherent to our financial system. Economists, Gorton writes, looked from a certain point of view and missed everything that was important: the evolution of capital markets and the banking system, the existence of new financial instruments, and the size of certain money markets like the sale and repurchase market. Comparing the so-called "Quiet Period" of 1934 to 2007, when there were no systemic crises, to the "Panic of 2007-2008," Gorton ties together key issues like bank debt and liquidity, credit booms and manias, moral hazard, and too-big-too-fail--all to illustrate the true causes of financial collapse. He argues that the successful regulation that prevented crises since 1934 did not adequately keep pace with innovation in the financial sector, due in part to the misunderstandings of economists, who assured regulators that all was well. Gorton also looks forward to offer both a better way for economists to think about markets and a description of the regulation necessary to address the future threat of financial disaster.
Author: Martin Neil Baily
Author: Martin Neil Baily
Author: Moishe Postone
Author: Emiliano Brancaccio
Author: Geoffrey Parker
Author: Keith Hart
Author: Hanc?-Azizoglu, Eda Ba?ak
Author: Rania Antonopoulos
Author: William I. Robinson
Author: Maurice Obstfeld
Author: Gary B. Gorton