Lost Decades The Making Of America S Debt Crisis And The Long Recovery
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📒Lost Decades The Making Of America S Debt Crisis And The Long Recovery ✍ Menzie D. Chinn
✏Lost Decades The Making of America s Debt Crisis and the Long Recovery Book Summary : A clear, authoritative guide to the crisis of 2008, its continuing repercussions, and the needed reforms ahead. The U.S. economy lost the first decade of the twenty-first century to an ill-conceived boom and subsequent bust. It is in danger of losing another decade to the stagnation of an incomplete recovery. How did this happen? Read this lucid explanation of the origins and long-term effects of the recent financial crisis, drawn in historical and comparative perspective by two leading political economists. By 2008 the United States had become the biggest international borrower in world history, with more than two-thirds of its $6 trillion federal debt in foreign hands. The proportion of foreign loans to the size of the economy put the United States in league with Mexico, Indonesia, and other third-world debtor nations. The massive inflow of foreign funds financed the booms in housing prices and consumer spending that fueled the economy until the collapse of late 2008. This was the most serious international economic crisis since the Great Depression of the 1930s. Menzie Chinn and Jeffry Frieden explain the political and economic roots of this crisis as well as its long-term effects. They explore the political strategies behind the Bush administration’s policy of funding massive deficits with foreign borrowing. They show that the crisis was foreseen by many and was avoidable through appropriate policy measures. They examine the continuing impact of our huge debt on the continuing slow recovery from the recession. Lost Decades will long be regarded as the standard account of the crisis and its aftermath.
📒Lost Decades ✍ Menzie D. Chinn
✏Lost Decades Book Summary : Two economists explore the 2008 financial crisis, the events leading up to it and the potential long-term effects and describe what they believe will be the ongoing impact on debt and recovery in the United States.
📒Lost Decades In Growth Performance ✍ Y. Chu
✏Lost Decades in Growth Performance Book Summary : There have been many noticeable incidents of 'lost decades' in economic growth, occurring in countries across the world. It has been found that in many economies, the lost decade phenomenon persists, even after the conventional set of contributing factors such as per capita income, fertility rate, life expectancy, rule of law, educational attainment, ratio of investment to national income, and openness have been taken into account. This book explains where and how these lost decades in economic growth occur in the world. The authors identify that dominant macroeconomic factors contributing to their occurrence are an abnormal supply of credits relative to national income, and poor demand management. The study pays special attention to the cases of Japan, South Korea and Taiwan, exploring their specific cases and analyzing contributing factors. While Japan suffered from excessive credit prior to the bubble bursting, and from insufficient domestic demand subsequently, Korea's growth has been stunted through structural imbalances between and within industries, as well as through changes in the orientation of public policies from growth to equality. Adversely, reduced economic growth in Taiwan has led from its populism-ridden democracy and mass media, as well as from internal disputes over national identity. Lost Decades in Growth Performance provides a revealing insight into the factors affecting economic growth across the world, and will be an invaluable resource for anyone with an interest in global and Asian economics. It also offers a fundamental source of reference for students and academics in general equilibrium models, economic development and East Asian economies.
📒Global Economic Crisis ✍ Maurice Obstfeld
✏Global Economic Crisis Book Summary : 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.
📒Growth Against Democracy ✍ H. L. T. Quan
✏Growth against Democracy Book Summary : Growth against Democracy: Savage Developmentalism in the Modern World, by H.L.T. Quan, is a radical critique of development as a modern project. Using three historical cases (Brazil-Japan, China-Africa, and US-Iraq), Quan probes the discursive practices of modern development, exploring the coercive and juridical dimensions of trade, diplomacy and war and their impact. This study builds on the critical works of neoliberalism, capitalist development, and empire to lay the groundwork for an honest assessment of neoliberal economics and foreign conducts and their impact on human life.
📒Wrong ✍ Richard S. Grossman
✏WRONG Book Summary : In recent years, the world has been rocked by major economic crises, most notably the devastating collapse of Lehman Brothers, the largest bankruptcy in American history, which triggered the breathtakingly destructive sub-prime disaster. What sparks these vast economic calamities? Why do our economic policy makers fail to protect us from such upheavals? In Wrong, economist Richard Grossman addresses such questions, shining a light on the poor thinking behind nine of the worst economic policy mistakes of the past 200 years, missteps whose outcomes ranged from appalling to tragic. Grossman tells the story behind each misconceived economic move, explaining why the policy was adopted, how it was implemented, and its short- and long-term consequences. In each case, he shows that the main culprits were policy makers who were guided by ideology rather than economics. For instance, Wrong looks at how America's unfounded fear of a centralized monetary authority caused them to reject two central banks, condemning the nation to wave after wave of financial panics. He describes how Britain's blind commitment to free markets, rather than to assisting the starving in Ireland, led to one of the nineteenth century's worst humanitarian tragedies- the Irish famine. And he shows how Britain's reestablishment of the gold standard after World War I, fuelled largely by a desire to recapture its pre-war dominance, helped to turn what would otherwise have been a normal recession into the Great Depression. Grossman also explores the Smoot-Hawley Tariff of 1930, Japan's lost decade of the 1990s, the American subprime crisis, and the present European sovereign debt crisis. Economic policy should be based on cold, hard economic analysis, Grossman concludes, not on an unquestioning commitment to a particular ideology. Wrong shows what happens when this sensible advice is ignored.
📒Back To Basics ✍ Martha Finnemore
✏Back to Basics Book Summary : No scholar better exemplifies the intellectual challenges foisted on the Neorealist school of international relations than prominent scholar Stephen Krasner (Graham H. Stuart Professor of International Studies, the Senior Associate Dean for the Social Sciences, School of Humanities & Sciences, and Director of Policy Planning at the US State Department 2005-2007). Throughout his career he has wrestled with realism's promises and limitations. Krasner has always been a prominent defender of realism and the importance of power understood in material terms, whether military or economic. Yet realist frameworks rarely provided a complete explanation for outcomes, in Krasner's analyses, and much of his work involved understanding power's role in situations not well explained by realism. If states seek power, why do we see cooperation? If hegemony promotes cooperation why does cooperation continue in the face of America's decline? Do states actually pursue their national interests or do domestic structures and values derail the rational pursuit of material objectives? Krasner's explanations were as diverse as were the problems. They pushed, to use his phrase, "the limits of realism." Edited by Martha Finnemore and Judith Goldstein, Back to Basics asks scholars to reflect on the role power plays in contemporary politics and how a power politics approach is influential today. The arguments made by the authors in this volume speak to one of three themes that run through Krasner's work: state power and hegemony; the relationship between states and markets; conceptions of the nation state in international politics. These themes appeared regularly in Krasner's scholarship as he wrestled, over his career, with fundamental questions of inter-state politics. Contributors largely agree on the centrality of power but diverge substantially on the ways power is manifest and should be measured and understood. Many of the contributors confronted the same intellectual dilemmas as Krasner in struggling to define power and its relationship to interests, yet their responses are different. Together, these essays explore new ways of thinking about power's role in contemporary politics and demonstrate the concepts continued relevance for both policy and theory.
📒The Oxford Handbook Of Capitalism ✍ Dennis C. Mueller
✏The Oxford Handbook of Capitalism Book Summary : The financial crisis that began in 2008 and its lingering aftermath have caused many intellectuals and politicians to question the virtues of capitalist systems. The 19 original essays in this Handbook, written by leading scholars from Asia, North America, and Europe, analyze both the strengths and weaknesses of capitalist systems. The volume opens with essays on the historical and legal origins of capitalism. These are followed by chapters describing the nature, institutions, and advantages of capitalism: entrepreneurship, innovation, property rights, contracts, capital markets, and the modern corporation. The next set of chapters discusses the problems that can arise in capitalist systems including monopoly, principal agent problems, financial bubbles, excessive managerial compensation, and empire building through wealth-destroying mergers. Two subsequent essays examine in detail the properties of the "Asian model" of capitalism as exemplified by Japan and South Korea, and capitalist systems where ownership and control are largely separated as in the United States and United Kingdom. The handbook concludes with an essay on capitalism in the 21st century by Nobel Prize winner Edmund Phelps.
📒World Politics ✍ Jeffry A. Frieden
✏World Politics Book Summary : The most complete, flexible, and affordable Comparative Politics package on the market. Essentials of Comparative Politics introduces students to the concepts that political scientists use to study and compare political systems and the particulars of specific political systems. The text is available with a corresponding casebook of 14 country studies and a reader—the three components can be used individually or in any combination. The Third Edition has been revised and updated to include the most current and relevant examples; it includes a robust suite of emedia resources for students and instructors. The Comparative Politics package provides maximum value to students—the textbook/casebook/reader package is priced comparably to most standalone country studies textbooks. FEATURES A conceptual framework that is easy for students to apply Essentials of Comparative Politics provides a clear framework based on the fundamental concepts that political scientists use to compare countries. Beginning with the most basic terms (the state, regimes, nations, political economic systems), O’Neil gives students the tools they need to make meaningful comparisons. The Third Edition is revised and updated with new data and current examples, and a new chapter organization helps students more intuitively compare and understand political systems. Up-to-date coverage of topics students are interested in Examples have been thoroughly updated to make the topics as relevant as possible for students. Updates include new discussions of Iraq, Hugo Chávez, and even the Second Life online role-playing game in the context of globalization. Student friendly pedagogy reinforces the main concepts No other book on the market has an art program that covers the concepts as thoroughly and clearly. Features include In Focus boxes that summarize important ideas students will want to review and Institutions in Action boxes that describe how institutions work around the world. Figures and tables in every chapter illustrate important points with real-world data, and chapter previews aid study with an outline of the chapter to come. Innovative emedia resources Our free and open student website includes video exercises using embedded clips from official news channels on YouTube, such as Al-Jazeera, CBS, and BBC Worldwide. These videos will also appear on an interactive Google Map. Conceptual quizzes and country quizzes on the website allow students to review key ideas from the conceptual framework of the text and key details from the countries discussed in the casebook. The Third Edition offers a library of digital images of various key places and political figures for instructors. These high-resolution images are optimized for easy integration into PowerPoint presentations. A complete package offers flexibility to instructors and value to students Essentials of Comparative Politics, Third Edition, is available with a corresponding casebook of 14 country studies and a reader—the three components can be used individually or in any combination. Essentials of Comparative Politics textbook/casebook package costs $20–30 less than the leading country studies books alone. The package of our textbook, casebook, and reader costs just a few dollars more than most standalone country studies books.
📒World Politics ✍ Frieden, Jeffry A.
✏World Politics Book Summary : With a framework based on interests, interactions, and institutions, World Politics gives students the tools to understand international relations. In the thoroughly updated Fourth Edition, new Controversy units provide models for applying the concepts in each chapter to real-world issues and events. New InQuizitive activities—created and tested by instructors who teach with World Politics—then invite students to practice applying the analytical tools from the text to alternative examples and cases.