From Malaise To Meltdown

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From Malaise to Meltdown

Author : Michael Lee
Publisher : University of Toronto Press
ISBN 13 : 1487535112
Total Pages : 331 pages
Book Rating : 4.4/5 (875 download)

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Book Synopsis From Malaise to Meltdown by : Michael Lee

Download or read book From Malaise to Meltdown written by Michael Lee and published by University of Toronto Press. This book was released on 2020-11-03 with total page 331 pages. Available in PDF, EPUB and Kindle. Book excerpt: For the past two centuries, the great power sitting atop the international global financial system has enjoyed outsized rewards. As the saying goes, however, all good things come to an end. Providing insights into the evolution of the global political economy, From Malaise to Meltdown identifies the main instigators behind the global financial crises we’ve seen in the last two hundred years. Michael Lee shows that, in time, power diffuses from the leading economy to others, creating an intensely competitive push for global financial leadership. Hungry for the benefits of global leadership, declining leaders and aspiring challengers alike roll back long-standing regulatory safeguards in an effort to spark growth. Risks to global financial stability mount as a result of this rollback and waves of severe financial crises soon follow. As Lee deftly shows, the Long Depression of 1873–1896, the Great Depression of 1929–1939, and the financial crisis of 2008 are part of the same recurrent pattern: global competition disrupts the longstanding political equilibria, prompting a search for new, risky ideas among the most powerful states. From Malaise to Meltdown presents a sweeping but accessible historical narrative about the coevolution of power, ideas, and domestic politics, supported by archival research into the risky decisions that ushered in the worst financial crises in history.

From Malaise to Meltdown

Author : Michael Lee
Publisher :
ISBN 13 : 9781487506896
Total Pages : 264 pages
Book Rating : 4.5/5 (68 download)

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Book Synopsis From Malaise to Meltdown by : Michael Lee

Download or read book From Malaise to Meltdown written by Michael Lee and published by . This book was released on 2020 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Lee explains how global competition has driven policymakers toward lax regulation throughout history, leading to severe financial crises.

House of Debt

Author : Atif Mian
Publisher : University of Chicago Press
ISBN 13 : 022627750X
Total Pages : 238 pages
Book Rating : 4.2/5 (262 download)

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Book Synopsis House of Debt by : Atif Mian

Download or read book House of Debt written by Atif Mian and published by University of Chicago Press. This book was released on 2015-05-20 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: “A concise and powerful account of how the great recession happened and what should be done to avoid another one . . . well-argued and consistently informative.” —Wall Street Journal The Great American Recession of 2007-2009 resulted in the loss of eight million jobs and the loss of four million homes to foreclosures. Is it a coincidence that the United States witnessed a dramatic rise in household debt in the years before the recession—that the total amount of debt for American households doubled between 2000 and 2007 to $14 trillion? Definitely not. Armed with clear and powerful evidence, Atif Mian and Amir Sufi reveal in House of Debt how the Great Recession and Great Depression, as well as less dramatic periods of economic malaise, were caused by a large run-up in household debt followed by a significantly large drop in household spending. Though the banking crisis captured the public’s attention, Mian and Sufi argue strongly with actual data that current policy is too heavily biased toward protecting banks and creditors. Increasing the flow of credit, they show, is disastrously counterproductive when the fundamental problem is too much debt. As their research shows, excessive household debt leads to foreclosures, causing individuals to spend less and save more. Less spending means less demand for goods, followed by declines in production and huge job losses. How do we end such a cycle? With a direct attack on debt, say Mian and Sufi. We can be rid of painful bubble-and-bust episodes only if the financial system moves away from its reliance on inflexible debt contracts. As an example, they propose new mortgage contracts that are built on the principle of risk-sharing, a concept that would have prevented the housing bubble from emerging in the first place. Thoroughly grounded in compelling economic evidence, House of Debt offers convincing answers to some of the most important questions facing today’s economy: Why do severe recessions happen? Could we have prevented the Great Recession and its consequences? And what actions are needed to prevent such crises going forward?

Saving the Sun

Author : Gillian Tett
Publisher : Harper Collins
ISBN 13 : 0061877638
Total Pages : 585 pages
Book Rating : 4.0/5 (618 download)

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Book Synopsis Saving the Sun by : Gillian Tett

Download or read book Saving the Sun written by Gillian Tett and published by Harper Collins. This book was released on 2009-10-13 with total page 585 pages. Available in PDF, EPUB and Kindle. Book excerpt: Saving the Sun tells the story of the world's largest private equity deal where American investors made billions of dollars rehabilitating Shinsei, a failed Japanese bank. Within that business saga is the dramatic tale of Japan's brightest financial minds, the men who made the Japanese economic miracle come to life, and their struggle against the economic failure in the 1990s. Into this climate of despair, where Japan seemed incapable of reviving prosperity, came a group of wily and determined Americans who would discover just how different the Japanese really are.

3.11

Author : Richard J. Samuels
Publisher : Cornell University Press
ISBN 13 : 0801468027
Total Pages : 294 pages
Book Rating : 4.8/5 (14 download)

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Book Synopsis 3.11 by : Richard J. Samuels

Download or read book 3.11 written by Richard J. Samuels and published by Cornell University Press. This book was released on 2013-04-15 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: On March 11, 2011, Japan was struck by the shockwaves of a 9.0 magnitude undersea earthquake originating less than 50 miles off its eastern coastline. The most powerful earthquake to have hit Japan in recorded history, it produced a devastating tsunami with waves reaching heights of over 130 feet that in turn caused an unprecedented multireactor meltdown at Fukushima Daiichi Nuclear Power Plant. This triple catastrophe claimed almost 20,000 lives, destroyed whole towns, and will ultimately cost hundreds of billions of dollars for reconstruction.In 3.11, Richard Samuels offers the first broad scholarly assessment of the disaster's impact on Japan's government and society. The events of March 2011 occurred after two decades of social and economic malaise—as well as considerable political and administrative dysfunction at both the national and local levels—and resulted in national soul-searching. Political reformers saw in the tragedy cause for hope: an opportunity for Japan to remake itself. Samuels explores Japan's post-earthquake actions in three key sectors: national security, energy policy, and local governance. For some reformers, 3.11 was a warning for Japan to overhaul its priorities and political processes. For others, it was a once-in-a-millennium event; they cautioned that while national policy could be improved, dramatic changes would be counterproductive. Still others declared that the catastrophe demonstrated the need to return to an idealized past and rebuild what has been lost to modernity and globalization.Samuels chronicles the battles among these perspectives and analyzes various attempts to mobilize popular support by political entrepreneurs who repeatedly invoked three powerfully affective themes: leadership, community, and vulnerability. Assessing reformers’ successes and failures as they used the catastrophe to push their particular agendas—and by examining the earthquake and its aftermath alongside prior disasters in Japan, China, and the United States—Samuels outlines Japan’s rhetoric of crisis and shows how it has come to define post-3.11 politics and public policy.

A Failure of Capitalism

Author : Richard A. Posner
Publisher : Harvard University Press
ISBN 13 : 9780674051294
Total Pages : 372 pages
Book Rating : 4.0/5 (512 download)

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Book Synopsis A Failure of Capitalism by : Richard A. Posner

Download or read book A Failure of Capitalism written by Richard A. Posner and published by Harvard University Press. This book was released on 2011-05-31 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial and economic crisis that began in 2008 is the most alarming of our lifetime because of the warp-speed at which it is occurring. How could it have happened, especially after all that we've learned from the Great Depression? Why wasn't it anticipated so that remedial steps could be taken to avoid or mitigate it? What can be done to reverse a slide into a full-blown depression? Why have the responses to date of the government and the economics profession been so lackluster? Richard Posner presents a concise and non-technical examination of this mother of all financial disasters and of the, as yet, stumbling efforts to cope with it. No previous acquaintance on the part of the reader with macroeconomics or the theory of finance is presupposed. This is a book for intelligent generalists that will interest specialists as well. Among the facts and causes Posner identifies are: excess savings flowing in from Asia and the reckless lowering of interest rates by the Federal Reserve Board; the relation between executive compensation, short-term profit goals, and risky lending; the housing bubble fuelled by low interest rates, aggressive mortgage marketing, and loose regulations; the low savings rate of American people; and the highly leveraged balance sheets of large financial institutions. Posner analyzes the two basic remedial approaches to the crisis, which correspond to the two theories of the cause of the Great Depression: the monetarist--that the Federal Reserve Board allowed the money supply to shrink, thus failing to prevent a disastrous deflation--and the Keynesian--that the depression was the product of a credit binge in the 1920's, a stock-market crash, and the ensuing downward spiral in economic activity. Posner concludes that the pendulum swung too far and that our financial markets need to be more heavily regulated. Read Richard Posner's blog, and his latest article in The Atlantic.

Fatal Risk

Author : Roddy Boyd
Publisher : John Wiley & Sons
ISBN 13 : 0470889802
Total Pages : 372 pages
Book Rating : 4.4/5 (78 download)

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Book Synopsis Fatal Risk by : Roddy Boyd

Download or read book Fatal Risk written by Roddy Boyd and published by John Wiley & Sons. This book was released on 2011-04-05 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: Long-listed for the FT & Goldman Sachs Business Book of the Year Award 2011 The true story of how risk destroys, as told through the ongoing saga of AIG From the collapse of Bear Stearns and Lehman Brothers, the subject of the financial crisis has been well covered. However, the story central to the crisis-that of AIG-has until now remained largely untold. Fatal Risk: A Cautionary Tale of AIG's Corporate Suicide tells the inside story of what really went on inside AIG that caused it to choke on risk and nearly brining down the entire economic system. The book Reveals inside information available nowhere else, including the personal notes and records of key players such as the former Chairman of AIG, Hank Greenberg Takes readers behind the scenes at the U.S. Treasury and the Federal Reserve Bank of New York Details how an understanding of risk built AIG, but a disdain for government regulators led to a run-in with New York State Attorney General Eliot Spitzer Fatal Risk is the comprehensive and compelling true story of the company at the center of the financial storm and how it nearly caused the entire economic system to collapse.

Crisis Spaces

Author : Costis Hadjimichalis
Publisher : Routledge
ISBN 13 : 1317291093
Total Pages : 383 pages
Book Rating : 4.3/5 (172 download)

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Book Synopsis Crisis Spaces by : Costis Hadjimichalis

Download or read book Crisis Spaces written by Costis Hadjimichalis and published by Routledge. This book was released on 2017-11-08 with total page 383 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial malaise that has affected the Eurozone countries of southern Europe – Spain, Portugal, Italy and, in its most extreme case, Greece – has been analysed using mainly macroeconomic and financial explanations. This book shifts the emphasis from macroeconomics to the relationship between uneven geographical development, financialization and politics. It deconstructs the myth that debt, both public and private, in Southern Europe is the sole outcome of the spendthrift ways of Greece, Spain, Italy and Portugal, offering a fresh perspective on the material, social and ideological parameters of the economic crisis and the spaces where it unfolded. Featuring a range of case examples that complement and expand the main discussion, Crisis Spaces will appeal to students and scholars of human geography, economics, regional development, political science, cultural studies and social movements studies.

The Number That Killed Us

Author : Pablo Triana
Publisher : John Wiley & Sons
ISBN 13 : 1118171543
Total Pages : 263 pages
Book Rating : 4.1/5 (181 download)

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Book Synopsis The Number That Killed Us by : Pablo Triana

Download or read book The Number That Killed Us written by Pablo Triana and published by John Wiley & Sons. This book was released on 2011-11-01 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: A critical look at the risk measurement tool that has repeatedly hurt the financial world The Number That Killed Us finally tells the "greatest story never told": how a mysterious financial risk measurement model has ruled the world for the past two decades and how it has repeatedly, and severely, caused market, economic, and social turmoil. This model was the key factor behind the unleashing of the cataclysmic credit crisis that erupted in 2007 and which the effects are still being felt around the world. The Number That Killed Us is the first and only book to thoroughly explain this hitherto-uncovered phenomenon, making it the key reference for truly understanding why the malaise took place. The very number financial institutions and regulators use to measure risk (Vale at Risk/VaR) has masked it, allowing firms to leverage up their speculative bets to unimaginable levels. VaR sanctioned and allowed the monstrously geared toxic punts that sank Wall Street, and the world, during the latest crisis. We can confidently say that VaR was the culprit. In The Number That Killed Us, derivatives expert Pablo Triana takes you through the development of VaR and shows how its inevitable structural flaws allowed banks to take on even greater risks. The precise role of VaR in igniting the latest crisis is thoroughly covered, including in-depth analysis of how and why regulators, by falling in love with the tool, condemned us to chaos. Uncritically embraced worldwide for way too long, VaR is, in the face of such destruction, just starting to be examined as problematic, and in this book Triana (long an open critic of the tool's role in encouraging mayhem) uncovers exactly why it makes our financial world a more dangerous place. If we care for our safety, we should let VaR go. Contains controversial analysis of the hotly debated risk metric Value at Risk (VaR) and its central role in the credit crisis Denounces the role of regulators and academics in forcing the presence of the inevitably malfunctioning in financeland Describes how bonus-hungry traders can use VaR as an alibi to take on the most reckless of bets Reveals how the most recent financial crisis will simply repeat itself if the problems behind VaR are not unmasked Pablo Triana is also the author of Lecturing Birds on Flying The very risk measurement tool that was intended to contain risk allowed financial firms to blindly take on more. The model that was supposed to save us condemned us to misery. The Number That Killed Us reveals how this has happened and what needs to be done to correct the situation.

A Nation in Crisis--The Meltdown of Money, Government and Religion

Author : Larry Bates
Publisher : Charisma Media
ISBN 13 : 1616381485
Total Pages : 242 pages
Book Rating : 4.6/5 (163 download)

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Book Synopsis A Nation in Crisis--The Meltdown of Money, Government and Religion by : Larry Bates

Download or read book A Nation in Crisis--The Meltdown of Money, Government and Religion written by Larry Bates and published by Charisma Media. This book was released on 2010 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bringing a message of reality and hope and providing strategies for dealing with life, this edition demonstrates the way to raise up wisdom in the areas of money, politics, and religion to a generation that is lacking it.

End This Depression Now!

Author : Paul Krugman
Publisher : W. W. Norton & Company
ISBN 13 : 0393088871
Total Pages : 290 pages
Book Rating : 4.3/5 (93 download)

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Book Synopsis End This Depression Now! by : Paul Krugman

Download or read book End This Depression Now! written by Paul Krugman and published by W. W. Norton & Company. This book was released on 2012-04-30 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: A New York Times best-selling call to arms from Nobel Prize–winning economist Paul Krugman. The Great Recession is more than four years old—and counting. Yet, as Paul Krugman points out in this powerful volley, "Nations rich in resources, talent, and knowledge—all the ingredients for prosperity and a decent standard of living for all—remain in a state of intense pain." How bad have things gotten? How did we get stuck in what now can only be called a depression? And above all, how do we free ourselves? Krugman pursues these questions with his characteristic lucidity and insight. He has a powerful message for anyone who has suffered over these past four years—a quick, strong recovery is just one step away, if our leaders can find the "intellectual clarity and political will" to end this depression now.

Meltdown: Money, Debt and the Wealth of Nations, Volume 2

Author :
Publisher : COMER Publications
ISBN 13 :
Total Pages : 348 pages
Book Rating : 4./5 ( download)

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Book Synopsis Meltdown: Money, Debt and the Wealth of Nations, Volume 2 by :

Download or read book Meltdown: Money, Debt and the Wealth of Nations, Volume 2 written by and published by COMER Publications. This book was released on with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Meltdown : Money, Debt and Wealth of Nations : how Zero Inflation Policy is Leading the World's Monetary and Economic Systems to Collapse : an Anthology from the First Decade of Economic Reform

Download Meltdown : Money, Debt and Wealth of Nations : how Zero Inflation Policy is Leading the World's Monetary and Economic Systems to Collapse : an Anthology from the First Decade of Economic Reform PDF Online Free

Author : William Krehm
Publisher : COMER Publications
ISBN 13 : 096806812X
Total Pages : 348 pages
Book Rating : 4.9/5 (68 download)

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Book Synopsis Meltdown : Money, Debt and Wealth of Nations : how Zero Inflation Policy is Leading the World's Monetary and Economic Systems to Collapse : an Anthology from the First Decade of Economic Reform by : William Krehm

Download or read book Meltdown : Money, Debt and Wealth of Nations : how Zero Inflation Policy is Leading the World's Monetary and Economic Systems to Collapse : an Anthology from the First Decade of Economic Reform written by William Krehm and published by COMER Publications. This book was released on 1999 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: " ... Four volumes of selections from the first 20 years of Economic reform, the print publication of the Committee for Monetary and Economic Reform."--V. 2, p. ix.

The System Worked

Author : Daniel W. Drezner
Publisher : Oxford University Press
ISBN 13 : 0199706085
Total Pages : 281 pages
Book Rating : 4.1/5 (997 download)

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Book Synopsis The System Worked by : Daniel W. Drezner

Download or read book The System Worked written by Daniel W. Drezner and published by Oxford University Press. This book was released on 2014-05-02 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: International institutions, from the International Monetary Fund to the International Olympic Committee, are perceived as bastions of sclerotic mediocrity at best and outright corruption at worst, and this perception is generally not far off the mark. In the wake of the 2008 financial crash, Daniel W. Drezner, like so many others, looked at the smoking ruins of the global economy and wondered why global economic governance structure had failed so spectacularly, and what could be done to reform them in the future. But then a funny thing happened. As he surveyed their actions in the wake of the crash, he realized that the evidence pointed to the exact opposite conclusion: global economic governance had succeeded. In The System Worked, Drezner, a renowned political scientist and international relations expert, contends that despite the massive scale and reverberations of this latest crisis (larger, arguably, than those that precipitated the Great Depression), the global economy has bounced back remarkably well. Examining the major resuscitation efforts by the G-20 IMF, WTO, and other institutions, he shows that, thanks to the efforts of central bankers and other policymakers, the international response was sufficiently coordinated to prevent the crisis from becoming a full-fledged depression. Yet the narrative about the failure of multilateral economic institutions persists, both because the Great Recession affected powerful nations whose governments managed their own economies poorly, and because the most influential policy analysts who write the books and articles on the crisis hail from those nations. Nevertheless, Drezner argues, while it's true that the global economy is still fragile, these institutions survived the "stress test" of the financial crisis, and may have even become more resilient and valuable in the process. Bucking the conventional wisdom about the new "G-Zero World," Drezner rehabilitates the image of the much-maligned international institutions and demolishes some of the most dangerous myths about the financial crisis. The System Worked is a vital contribution to our understanding of an area where the stakes could not be higher.

Crisis and Leadership

Author : Clara Fraser
Publisher : Red Letter Press
ISBN 13 : 9780932323088
Total Pages : 196 pages
Book Rating : 4.3/5 (23 download)

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Book Synopsis Crisis and Leadership by : Clara Fraser

Download or read book Crisis and Leadership written by Clara Fraser and published by Red Letter Press. This book was released on 2000 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cultural Writing. The story of how and why the Socialist Workers Party abandoned its revolutionary program is an important chapter in American history. The party was the inheritor of the ideas of the Russian Revolution and Leon Trotsky, but when the radical 1960s exploded the SWP was paralyzed by its ties to the most privileged sectors of labor and its ambivalent and wildly contradictory approach to people of color, youth, and women. Written in 1965 by partisans of the fight to reorient the party, CRISIS AND LEADERSHIP provides a visionary analysis of economic and political developments and a hard-hitting indictment of racism and sexism in the union movement and the Left.

The Consequences of the Global Financial Crisis

Author : Wyn Grant
Publisher : Oxford University Press, USA
ISBN 13 : 0199641986
Total Pages : 287 pages
Book Rating : 4.1/5 (996 download)

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Book Synopsis The Consequences of the Global Financial Crisis by : Wyn Grant

Download or read book The Consequences of the Global Financial Crisis written by Wyn Grant and published by Oxford University Press, USA. This book was released on 2012-05-24 with total page 287 pages. Available in PDF, EPUB and Kindle. Book excerpt: Systematically exploring the consequences of the global financial crisis, this text focuses primarily on the impact on policy and politics. It asks how governments responded to the challenges that the crisis has posed, and the policy and political impact of the combination of both the crisis itself and these responses.

Uprising

Author : George Magnus
Publisher : John Wiley & Sons
ISBN 13 : 0470975334
Total Pages : 290 pages
Book Rating : 4.4/5 (79 download)

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Book Synopsis Uprising by : George Magnus

Download or read book Uprising written by George Magnus and published by John Wiley & Sons. This book was released on 2010-11-18 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: Emerging markets are big news. But after the financial crisis, what does the future really hold for them? And what does this future mean for global business? George Magnus, one of the world's most respected economic analysts, is your guide through the challenges and opportunities for emerging markets and those doing business in them. This magisterial book looks in detail at China and India – the big players – and also less hyped but crucial markets, including Eastern European countries and Turkey. Magnus takes in his sweep everything from commodity prices to climate change, and from comparative advantage to demographic to provide a compelling analysis of what the future might look like – not just for emerging markets, but for investors, businesses and economies everywhere. Uprising is a must-read for anyone who cares about the future of the global economy.