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Economic Growth Or Stagnation
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Book Synopsis The World Economy by : Dale W. Jorgenson
Download or read book The World Economy written by Dale W. Jorgenson and published by Cambridge University Press. This book was released on 2016-11-24 with total page 597 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first long-term analysis of the process of structural change and productivity growth in Asia, Europe, Latin America and the USA.
Book Synopsis The Age of Stagnation by : Satyajit Das
Download or read book The Age of Stagnation written by Satyajit Das and published by Prometheus Books. This book was released on 2016 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy is entering an era of protracted stagnation, similar to what Japan has experienced for over a decade. That is the message of this brilliant and controversial summary of our current economic predicament from an internationally respected consultant and commentator on financial markets, who predicted the Global Financial Crisis of 2008. The author challenges the assumption that growth can be perpetual and questions the ability of political leaders to enact the tough structural changes needed. He is particularly critical of the "easy money" approach to dealing with the great recession of 2008, citing the dangers of excessive debt and deep-seated fundamental imbalances. The fallout of these poor policies, he argues, will affect not only the business sector, but also the lifestyles and prosperity of average citizens and future generations. The author concludes with a thought experiment illustrating the large-scale changes that will be necessary to restore economic, financial, and social sustainability. This experiment has already been tried in Iceland, which went bankrupt in the wake of the 2008 crisis, and now, after a painful adjustment, is on the road to recovery. Written for the lay reader and peppered with witty anecdotes, this immensely readable book clearly explains the missteps that created the current dilemma, why a recovery has proved elusive, and the difficult remedies that must eventually be applied to ensure a stable future.
Download or read book Fully Grown written by Dietrich Vollrath and published by University of Chicago Press. This book was released on 2022-06-24 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: Vollrath challenges our long-held assumption that growth is the best indicator of an economy’s health. Most economists would agree that a thriving economy is synonymous with GDP growth. The more we produce and consume, the higher our living standard and the more resources available to the public. This means that our current era, in which growth has slowed substantially from its postwar highs, has raised alarm bells. But should it? Is growth actually the best way to measure economic success—and does our slowdown indicate economic problems? The counterintuitive answer Dietrich Vollrath offers is: No. Looking at the same facts as other economists, he offers a radically different interpretation. Rather than a sign of economic failure, he argues, our current slowdown is, in fact, a sign of our widespread economic success. Our powerful economy has already supplied so much of the necessary stuff of modern life, brought us so much comfort, security, and luxury, that we have turned to new forms of production and consumption that increase our well-being but do not contribute to growth in GDP. In Fully Grown, Vollrath offers a powerful case to support that argument. He explores a number of important trends in the US economy: including a decrease in the number of workers relative to the population, a shift from a goods-driven economy to a services-driven one, and a decline in geographic mobility. In each case, he shows how their economic effects could be read as a sign of success, even though they each act as a brake of GDP growth. He also reveals what growth measurement can and cannot tell us—which factors are rightly correlated with economic success, which tell us nothing about significant changes in the economy, and which fall into a conspicuously gray area. Sure to be controversial, Fully Grown will reset the terms of economic debate and help us think anew about what a successful economy looks like.
Book Synopsis The Great Stagnation by : Tyler Cowen
Download or read book The Great Stagnation written by Tyler Cowen and published by Penguin. This book was released on 2011-01-25 with total page 71 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tyler Cowen’s controversial New York Times bestseller—the book heard round the world that ignited a firestorm of debate and redefined the nature of America’s economic malaise. America has been through the biggest financial crisis since the great Depression, unemployment numbers are frightening, media wages have been flat since the 1970s, and it is common to expect that things will get worse before they get better. Certainly, the multidecade stagnation is not yet over. How will we get out of this mess? One political party tries to increase government spending even when we have no good plan for paying for ballooning programs like Medicare and Social Security. The other party seems to think tax cuts will raise revenue and has a record of creating bigger fiscal disasters that the first. Where does this madness come from? As Cowen argues, our economy has enjoyed low-hanging fruit since the seventeenth century: free land, immigrant labor, and powerful new technologies. But during the last forty years, the low-hanging fruit started disappearing, and we started pretending it was still there. We have failed to recognize that we are at a technological plateau. The fruit trees are barer than we want to believe. That's it. That is what has gone wrong and that is why our politics is crazy. In The Great Stagnation, Cowen reveals the underlying causes of our past prosperity and how we will generate it again. This is a passionate call for a new respect of scientific innovations that benefit not only the powerful elites, but humanity as a whole.
Book Synopsis Secular Stagnation Theories by : Christina Anselmann
Download or read book Secular Stagnation Theories written by Christina Anselmann and published by Springer Nature. This book was released on 2020-04-17 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: In light of weak economic performances and rising income disparities across the developed world during the past decades, this book provides a comprehensive overview of secular stagnation theories in the history of economic thought and examines the role of income distribution in various stagnation hypotheses. By offering a historical perspective, from the classical economists to the most recent stagnation debate of the early twenty-first century, the author shows that most stagnation theories were developed in periods of high and/or rising income disparities. Eventually, it was Josef Steindl, one of the least recognized stagnationists in the history of economic thought, who put the distribution of income at the heart of his stagnation theory. While Josef Steindl focused on the nexus between the functional distribution of income and economic growth, this book includes the personal distribution of income in a Kaleckian-Steindlian model of economic growth and stagnation. In the model presented, the nexus between economic growth and the distribution of income is a priori uncertain, depending on the type of economic shock and the specific economic circumstances. The author also discusses various empirically oriented policy implications aimed at fostering both economic growth and a more equal distribution of income. This book appeals to scholars in economics and the history of economic thought interested in economic growth, secular stagnation, and income distribution.
Book Synopsis Economic Growth Or Stagnation by : Jules Backman
Download or read book Economic Growth Or Stagnation written by Jules Backman and published by . This book was released on 1977 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Causes of Growth and Stagnation in the World Economy by : Nicholas Kaldor
Download or read book Causes of Growth and Stagnation in the World Economy written by Nicholas Kaldor and published by Cambridge University Press. This book was released on 2007-07-30 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: These lectures contain a masterful summing up of Nicholas Kaldor's critique of the foundations of mainstream economic theory. They provide a very clear account of his theoretical structures on regional differences, primary producers and manufacturers, and on differing market structures and the likely course of prices and quantities in different markets over time. The first four lectures are concerned with theory, history and explanation; the fifth consists of a detailed set of integrated policy proposals.
Book Synopsis Prosperity without Growth by : Tim Jackson
Download or read book Prosperity without Growth written by Tim Jackson and published by Taylor & Francis. This book was released on 2016-12-08 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt: What can prosperity possibly mean in a world of environmental and social limits? The publication of Prosperity without Growth was a landmark in the sustainability debate. Tim Jackson’s piercing challenge to conventional economics openly questioned the most highly prized goal of politicians and economists alike: the continued pursuit of exponential economic growth. Its findings provoked controversy, inspired debate and led to a new wave of research building on its arguments and conclusions. This substantially revised and re-written edition updates those arguments and considerably expands upon them. Jackson demonstrates that building a ‘post-growth’ economy is a precise, definable and meaningful task. Starting from clear first principles, he sets out the dimensions of that task: the nature of enterprise; the quality of our working lives; the structure of investment; and the role of the money supply. He shows how the economy of tomorrow may be transformed in ways that protect employment, facilitate social investment, reduce inequality and deliver both ecological and financial stability. Seven years after it was first published, Prosperity without Growth is no longer a radical narrative whispered by a marginal fringe, but an essential vision of social progress in a post-crisis world. Fulfilling that vision is simply the most urgent task of our times.
Book Synopsis Economic growth or stagnation by : Jules Backman
Download or read book Economic growth or stagnation written by Jules Backman and published by . This book was released on 1978 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Stagnation and the Financial Explosion by : Harry Magdoff
Download or read book Stagnation and the Financial Explosion written by Harry Magdoff and published by NYU Press. This book was released on 2019-02-15 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the fourth in a continuing series of collected essays by the former editors of Monthly Review on the state of the U.S. economy and its relation to the global system. Like its predecessors, this volume focuses on the most recent phase of the development of U.S. capitalism, stressing the profound contradictions of the underlying processes of capital accumulation and pointing the way to the fundamental reforms that are the essential precondition for a real economic revival.
Book Synopsis Economic Stagnation, Fixed Factors, and Policy Thresholds by : William Russell Easterly
Download or read book Economic Stagnation, Fixed Factors, and Policy Thresholds written by William Russell Easterly and published by World Bank Publications. This book was released on 1991 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic policies, not initial conditions, determine whether countries stagnate. The black market premium on foreign exchange is an important factor in stagnation.
Book Synopsis Handbook of Economic Stagnation by : Randall Wray
Download or read book Handbook of Economic Stagnation written by Randall Wray and published by Academic Press. This book was released on 2022-04-24 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of Economic Stagnation takes a broad view, including contributions from orthodox and heterodox economists who examine situations in countries and worldwide regions, including Japan and the Euro area. To be sure, stagnation is periodically relieved by short economic bursts usually brought on by unsustainable asset price bubbles. Once the bubbles burst, stagnation returns. This book's fresh, comprehensive approach to the topic makes it the premier source for anyone affected by these cycles. Synthesizes and organizes diverse perspectives about crisis economics and future economic growth Emphasizes the relationships among stagnation, international economics, and the global distribution of labor Includes Japan and the Euro zone as well as other countries and regions worldwide
Book Synopsis The Rise and Fall of American Growth by : Robert J. Gordon
Download or read book The Rise and Fall of American Growth written by Robert J. Gordon and published by Princeton University Press. This book was released on 2017-08-29 with total page 785 pages. Available in PDF, EPUB and Kindle. Book excerpt: How America's high standard of living came to be and why future growth is under threat In the century after the Civil War, an economic revolution improved the American standard of living in ways previously unimaginable. Electric lighting, indoor plumbing, motor vehicles, air travel, and television transformed households and workplaces. But has that era of unprecedented growth come to an end? Weaving together a vivid narrative, historical anecdotes, and economic analysis, The Rise and Fall of American Growth challenges the view that economic growth will continue unabated, and demonstrates that the life-altering scale of innovations between 1870 and 1970 cannot be repeated. Gordon contends that the nation's productivity growth will be further held back by the headwinds of rising inequality, stagnating education, an aging population, and the rising debt of college students and the federal government, and that we must find new solutions. A critical voice in the most pressing debates of our time, The Rise and Fall of American Growth is at once a tribute to a century of radical change and a harbinger of tougher times to come.
Book Synopsis Responsibility Beyond Growth by : de Saille, Stevienna
Download or read book Responsibility Beyond Growth written by de Saille, Stevienna and published by Policy Press. This book was released on 2020-07-15 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: Critically assessing growth-based models of innovation policy, this enlightening study sparks new debate on the role and nature of responsible innovation. Drawing on insights from economics, politics, and science and technology studies, it proposes the concept of 'responsible stagnation' as an expansion of present discussions about growth, degrowth, responsibility and innovation within planetary limitations. This important intervention explores real-world relationships between the political economy, innovation policy and concepts of responsibility, and will be an invaluable resource for individuals and civil society organizations who seek to promote responsible innovation.
Book Synopsis Japan's Great Stagnation by : Michael M. Hutchison
Download or read book Japan's Great Stagnation written by Michael M. Hutchison and published by MIT Press. This book was released on 2006 with total page 287 pages. Available in PDF, EPUB and Kindle. Book excerpt: Experts on the Japanese economy examine Japan's prolonged period of economic underperformance, analyzing the ways in which the financial system, monetary policy, and international financial factors contributed to its onset and duration. After experiencing spectacular economic growth and industrial development for much of the postwar era, Japan plunged abruptly into recession in the early 1990s and since then has suffered a prolonged period of economic stagnation, from which it is only now emerging. Japan's malaise, marked by recession or weak economic activity, commodity and asset price deflation, banking failures, increased bankruptcies, and rising unemployment, has been the most sustained economic downturn seen in the industrial world since the 1930s. In Japan's Great Stagnation, experts on the Japanese economy consider key questions about the causes and effects of Japan's prolonged period of economic underperformance and what other advanced economies might learn from Japan's experience. They focus on aspects of the financial and banking system that have contributed to economic stagnation, the role of monetary policy, and the importance of international financial factors--in particular, the exchange rate and the balance of payments. Among the topics discussed are bank fragility and the inaccuracy of measuring it by the "Japan premium," the consequences of weak banking regulation, the controversial policy of "quantitative easing," and the effectiveness of currency devaluation for fighting deflation. Taken together, the contributions demonstrate the importance of a sound financial sector in fostering robust growth and healthy economies--and the enormous economic costs of a dysfunctional financial system. Contributors Yoichi Arai, Robert Dekle, Zekeriya Eser, Eiji Fujii, Kimie Harada, Takeo Hoshi, Michael M. Hutchison, Takatoshi Ito, Ken Kletzer, Nikolas Müller-Plantenberg, Kunio Okina, Joe Peek, Eric S. Rosengren, Shigenori Shiratsuka, Mark M. Spiegel, Frank Westermann, Nobuyoshi Yamori
Book Synopsis GROWTH AND STAGNATION IN THE EUROPEAN ECONOMY by : INGVAR SVENNILSON
Download or read book GROWTH AND STAGNATION IN THE EUROPEAN ECONOMY written by INGVAR SVENNILSON and published by . This book was released on 1954 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Causes of Growth and Stagnation in the World Economy by : Nicholas Kaldor
Download or read book Causes of Growth and Stagnation in the World Economy written by Nicholas Kaldor and published by Cambridge University Press. This book was released on 1996-04-26 with total page 247 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this series of five lectures, Professor Kaldor explores the dynamic forces that govern the growth rate of individual countries and also the growth of the world economy as a closed system. In the first lecture he highlights what he regards as the deficiencies of the Walrasian general equilibrium theory for understanding the process of change in dynamic capitalist economies. In the second lecture he proceeds to an analysis of alternative approaches to growth theory from the classics through Marx to Keynes. In the third lecture an innovative and elegant two-sector model is presented of the interaction between the primary producing sector and industrial sector of the world economy which highlights the importance of an equilibrium terms of trade for maximising the growth of output for the world economy as a whole. In the fourth lecture, the role of foreign trade and the balance of payments is used in the explanation of intercountry growth performance. Finally, in the fifth lecture, Professor Kaldor discusses contemporary economic problems in the world economy. The lectures are followed by an extensive discussion, with contributions from distinguished Italian economists.
