The Paradox Of Global Thrift

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In CHEAP We Trust

Author : Lauren Weber
Publisher : Little, Brown
ISBN 13 : 031608204X
Total Pages : 214 pages
Book Rating : 4.3/5 (16 download)

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Book Synopsis In CHEAP We Trust by : Lauren Weber

Download or read book In CHEAP We Trust written by Lauren Weber and published by Little, Brown. This book was released on 2009-09-07 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cheap suit. Cheap date. Cheap shot. It's a dirty word, an epithet laden with negative meanings. It is also the story of Lauren Weber's life. As a child, she resented her father for keeping the heat at 50 degrees through the frigid New England winters and rarely using his car's turn signals-to keep them from burning out. But as an adult, when she found herself walking 30 blocks to save $2 on subway fare, she realized she had turned into him. In this lively treatise on the virtues of being cheap, Weber explores provocative questions about Americans' conflicted relationship with consumption and frugality. Why do we ridicule people who save money? Where's the boundary between thrift and miserliness? Is thrift a virtue or a vice during a recession? And was it common sense or obsessive-compulsive disorder that made her father ration the family's toilet paper? In answering these questions, In Cheap We Trust offers a colorful ride through the history of frugality in the United States. Readers will learn the stories behind Ben Franklin and his famous maxims, Hetty Green (named "the world's greatest miser" by the Guinness Book of Records) and the stereotyping of Jewish and Chinese immigrants as cheap. Weber also explores contemporary expressions and dilemmas of thrift. From Dumpster-diving to economist John Maynard Keynes's "Paradox of Thrift" to today's recession-driven enthusiasm for frugal living, In Cheap We Trust teases out the meanings of cheapness and examines the wisdom and pleasures of not spending every last penny.

The Paradox of Fiscal Austerity

Author : Justin Vélez-Hagan
Publisher : Rowman & Littlefield
ISBN 13 : 1498571948
Total Pages : 223 pages
Book Rating : 4.4/5 (985 download)

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Book Synopsis The Paradox of Fiscal Austerity by : Justin Vélez-Hagan

Download or read book The Paradox of Fiscal Austerity written by Justin Vélez-Hagan and published by Rowman & Littlefield. This book was released on 2019-12-12 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: If governments followed the optimal fiscal policy path, surpluses in good times would counter necessary deficits during economic downturns, leading to worldwide balance. The world, however, has chosen to go in a different direction in recent decades, avoiding thrift in light of a decidedly more indebted future. When financial crises kicked off a global recession in 2008, the spotlight placed on countries’ fiscal conditions put pressure on policymakers around the globe to find a way to slow the growth of deficits and debt by imposing fiscal consolidations (or, more simply, austerity). How have these policies fared across the developed world? Were they even necessary to begin with? This book examines the many factors that have contributed to the success (or failure) of such policies, including timing, magnitude, accompanying policies, composition, and more, while explaining the economic rationale behind their choices.

Liquidity Trap and Excessive Leverage

Author : Mr.Anton Korinek
Publisher : International Monetary Fund
ISBN 13 : 1498356397
Total Pages : 49 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Liquidity Trap and Excessive Leverage by : Mr.Anton Korinek

Download or read book Liquidity Trap and Excessive Leverage written by Mr.Anton Korinek and published by International Monetary Fund. This book was released on 2014-07-21 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: We investigate the role of macroprudential policies in mitigating liquidity traps driven by deleveraging, using a simple Keynesian model. When constrained agents engage in deleveraging, the interest rate needs to fall to induce unconstrained agents to pick up the decline in aggregate demand. However, if the fall in the interest rate is limited by the zero lower bound, aggregate demand is insufficient and the economy enters a liquidity trap. In such an environment, agents' exante leverage and insurance decisions are associated with aggregate demand externalities. The competitive equilibrium allocation is constrained inefficient. Welfare can be improved by ex-ante macroprudential policies such as debt limits and mandatory insurance requirements. The size of the required intervention depends on the differences in marginal propensity to consume between borrowers and lenders during the deleveraging episode. In our model, contractionary monetary policy is inferior to macroprudential policy in addressing excessive leverage, and it can even have the unintended consequence of increasing leverage.

Trade Wars are Class Wars

Author : Matthew C. Klein
Publisher : Yale University Press
ISBN 13 : 0300244177
Total Pages : 292 pages
Book Rating : 4.3/5 (2 download)

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Book Synopsis Trade Wars are Class Wars by : Matthew C. Klein

Download or read book Trade Wars are Class Wars written by Matthew C. Klein and published by Yale University Press. This book was released on 2020-01-01 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This is a very important book."--Martin Wolf, Financial TimesA provocative look at how today's trade conflicts are caused by governments promoting the interests of elites at the expense of workers Longlisted for the 2020 Financial Times & McKinsey Business Book of the Year Award "Worth reading for [the authors'] insights into the history of trade and finance."--George Melloan, Wall Street Journal Trade disputes are usually understood as conflicts between countries with competing national interests, but as Matthew C. Klein and Michael Pettis show, they are often the unexpected result of domestic political choices to serve the interests of the rich at the expense of workers and ordinary retirees. Klein and Pettis trace the origins of today's trade wars to decisions made by politicians and business leaders in China, Europe, and the United States over the past thirty years. Across the world, the rich have prospered while workers can no longer afford to buy what they produce, have lost their jobs, or have been forced into higher levels of debt. In this thought-provoking challenge to mainstream views, the authors provide a cohesive narrative that shows how the class wars of rising inequality are a threat to the global economy and international peace--and what we can do about it.

Cognitive Capitalism

Author : Yann Moulier-Boutang
Publisher : Polity
ISBN 13 : 0745647324
Total Pages : 258 pages
Book Rating : 4.7/5 (456 download)

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Book Synopsis Cognitive Capitalism by : Yann Moulier-Boutang

Download or read book Cognitive Capitalism written by Yann Moulier-Boutang and published by Polity. This book was released on 2011 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book argues that we are undergoing a transition from industrial capitalism to a new form of capitalism - what the author calls & lsquo; cognitive capitalism & rsquo;

Sloterdijk Now

Author : Stuart Elden
Publisher : Polity
ISBN 13 : 0745651364
Total Pages : 233 pages
Book Rating : 4.7/5 (456 download)

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Book Synopsis Sloterdijk Now by : Stuart Elden

Download or read book Sloterdijk Now written by Stuart Elden and published by Polity. This book was released on 2012 with total page 233 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book represents the first major engagement with Sloterdijk's thought in the English language, and will provoke new debates across the humanities. The collection ranges across the full breadth of Sloterdijk's work, covering such key topics as cynicism, ressentiment, posthumanism and the role of the public intellectual.

Puzzles and Paradoxes in Economics

Author : Mark Skousen
Publisher :
ISBN 13 :
Total Pages : 236 pages
Book Rating : 4.3/5 (555 download)

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Book Synopsis Puzzles and Paradoxes in Economics by : Mark Skousen

Download or read book Puzzles and Paradoxes in Economics written by Mark Skousen and published by . This book was released on 1998 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analyzes 50 paradoxes that challenge or have challenged both economists and others. Among them are the fairness of market wages, the alleged gold absurdity, the Irish potato famine, the paradox of thrift, the perversity of Wall Street, why the best crops are shipped out of state, whether teachers are underpaid, whether studying economics makes people immoral, and whether war is good for the economy. References are provided to each. Assumes no special knowledge of economics. Annotation copyrighted by Book News, Inc., Portland, OR

A Troublesome Inheritance

Author : Nicholas Wade
Publisher : Penguin
ISBN 13 : 0698163796
Total Pages : 249 pages
Book Rating : 4.6/5 (981 download)

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Book Synopsis A Troublesome Inheritance by : Nicholas Wade

Download or read book A Troublesome Inheritance written by Nicholas Wade and published by Penguin. This book was released on 2014-05-06 with total page 249 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing on startling new evidence from the mapping of the genome, an explosive new account of the genetic basis of race and its role in the human story Fewer ideas have been more toxic or harmful than the idea of the biological reality of race, and with it the idea that humans of different races are biologically different from one another. For this understandable reason, the idea has been banished from polite academic conversation. Arguing that race is more than just a social construct can get a scholar run out of town, or at least off campus, on a rail. Human evolution, the consensus view insists, ended in prehistory. Inconveniently, as Nicholas Wade argues in A Troublesome Inheritance, the consensus view cannot be right. And in fact, we know that populations have changed in the past few thousand years—to be lactose tolerant, for example, and to survive at high altitudes. Race is not a bright-line distinction; by definition it means that the more human populations are kept apart, the more they evolve their own distinct traits under the selective pressure known as Darwinian evolution. For many thousands of years, most human populations stayed where they were and grew distinct, not just in outward appearance but in deeper senses as well. Wade, the longtime journalist covering genetic advances for The New York Times, draws widely on the work of scientists who have made crucial breakthroughs in establishing the reality of recent human evolution. The most provocative claims in this book involve the genetic basis of human social habits. What we might call middle-class social traits—thrift, docility, nonviolence—have been slowly but surely inculcated genetically within agrarian societies, Wade argues. These “values” obviously had a strong cultural component, but Wade points to evidence that agrarian societies evolved away from hunter-gatherer societies in some crucial respects. Also controversial are his findings regarding the genetic basis of traits we associate with intelligence, such as literacy and numeracy, in certain ethnic populations, including the Chinese and Ashkenazi Jews. Wade believes deeply in the fundamental equality of all human peoples. He also believes that science is best served by pursuing the truth without fear, and if his mission to arrive at a coherent summa of what the new genetic science does and does not tell us about race and human history leads straight into a minefield, then so be it. This will not be the last word on the subject, but it will begin a powerful and overdue conversation.

Household Leverage and the Recession

Author : Callum Jones
Publisher : International Monetary Fund
ISBN 13 : 1484374983
Total Pages : 51 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Household Leverage and the Recession by : Callum Jones

Download or read book Household Leverage and the Recession written by Callum Jones and published by International Monetary Fund. This book was released on 2018-08-30 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: We evaluate and partially challenge the ‘household leverage’ view of the Great Recession. In the data, employment and consumption declined more in states where household debt declined more. We study a model where liquidity constraints amplify the response of consumption and employment to changes in debt. We estimate the model with Bayesian methods combining state and aggregate data. Changes in household credit limits explain 40 percent of the differential rise and fall of employment across states, but a small fraction of the aggregate employment decline in 2008-2010. Nevertheless, since household deleveraging was gradual, credit shocks greatly slowed the recovery.

The Cold War

Author : Ralph B. Levering
Publisher : John Wiley & Sons
ISBN 13 : 1118848403
Total Pages : 292 pages
Book Rating : 4.1/5 (188 download)

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Book Synopsis The Cold War by : Ralph B. Levering

Download or read book The Cold War written by Ralph B. Levering and published by John Wiley & Sons. This book was released on 2016-02-16 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: Now available in a fully revised and updated third edition, The Cold War: A Post-Cold War History offers an authoritative and accessible introduction to the history and enduring legacy of the Cold War. Thoroughly updated in light of new scholarship, including revised sections on President Nixon’s policies in Vietnam and President Reagan’s approach to U.S.-Soviet relations Features six all new "counterparts" sections that juxtapose important historical figures to illustrate the contrasting viewpoints that characterized the Cold War Argues that the success of Western capitalism during the Cold War laid the groundwork for the economic globalization and political democratization that have defined the 21st century Includes extended coverage of the Cuban Missile Crisis, the most dangerous confrontation of the nuclear age thus far

How Can I Help?

Author : Ram Dass
Publisher : Knopf
ISBN 13 : 0307809633
Total Pages : 273 pages
Book Rating : 4.3/5 (78 download)

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Book Synopsis How Can I Help? by : Ram Dass

Download or read book How Can I Help? written by Ram Dass and published by Knopf. This book was released on 2011-12-21 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discover how giving of yourself can lead to some of the most joyous moments in your life—in a book that “deserves a special place on that shelf reserved for truly practical wisdom" (Harold Kushner, author of When Bad Things Happen to Good People). Not a day goes by without our being called upon to help one another--at home, at work, on the street, on the phone…. We do what we can. Yet so much comes up to complicate this natural response: "Will I have what it takes?" "How much is enough?" "How can I deal with suffering?" "And what really helps, anyway?" In this practical helper's companion, the authors explore a path through these confusions, and provide support and inspiration for us in our efforts as members of the helping professions, as volunteers, as community activists, or simply as friends and family trying to meet each other's needs. Here too are deeply moving personal accounts: A housewife brings zoo animals to lift the spirits of nursing home residents; a nun tends the wounded on the first night of the Nicaraguan revolution; a police officer talks a desperate father out of leaping from a roof with his child; a nurse allows an infant to spend its last moments of life in her arms rather than on a hospital machine. From many such stories and the authors' reflections, we can find strength, clarity, and wisdom for those times when we are called on to care for one another.

The End of Alchemy: Money, Banking, and the Future of the Global Economy

Author : Mervyn King
Publisher : W. W. Norton & Company
ISBN 13 : 0393247031
Total Pages : 214 pages
Book Rating : 4.3/5 (932 download)

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Book Synopsis The End of Alchemy: Money, Banking, and the Future of the Global Economy by : Mervyn King

Download or read book The End of Alchemy: Money, Banking, and the Future of the Global Economy written by Mervyn King and published by W. W. Norton & Company. This book was released on 2016-03-21 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: “Mervyn King may well have written the most important book to come out of the financial crisis. Agree or disagree, King’s visionary ideas deserve the attention of everyone from economics students to heads of state.” —Lawrence H. Summers Something is wrong with our banking system. We all sense that, but Mervyn King knows it firsthand; his ten years at the helm of the Bank of England, including at the height of the financial crisis, revealed profound truths about the mechanisms of our capitalist society. In The End of Alchemy he offers us an essential work about the history and future of money and banking, the keys to modern finance. The Industrial Revolution built the foundation of our modern capitalist age. Yet the flowering of technological innovations during that dynamic period relied on the widespread adoption of two much older ideas: the creation of paper money and the invention of banks that issued credit. We take these systems for granted today, yet at their core both ideas were revolutionary and almost magical. Common paper became as precious as gold, and risky long-term loans were transformed into safe short-term bank deposits. As King argues, this is financial alchemy—the creation of extraordinary financial powers that defy reality and common sense. Faith in these powers has led to huge benefits; the liquidity they create has fueled economic growth for two centuries now. However, they have also produced an unending string of economic disasters, from hyperinflations to banking collapses to the recent global recession and current stagnation. How do we reconcile the potent strengths of these ideas with their inherent weaknesses? King draws on his unique experience to present fresh interpretations of these economic forces and to point the way forward for the global economy. His bold solutions cut through current overstuffed and needlessly complex legislation to provide a clear path to durable prosperity and the end of overreliance on the alchemy of our financial ancestors.

Cities

Author : Ash Amin
Publisher : Polity
ISBN 13 : 9780745624143
Total Pages : 192 pages
Book Rating : 4.6/5 (241 download)

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Book Synopsis Cities by : Ash Amin

Download or read book Cities written by Ash Amin and published by Polity. This book was released on 2002-04-22 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book develops a fresh and challenging perspective on the city. Drawing on a wide and diverse range of material and texts, it argues that too much contemporary urban theory is based on nostalgia for a humane, face-to-face and bounded city. Amin and Thrift maintain that the traditional divide between the city and the rest of the world has been perforated through urban encroachment, the thickening of the links between the two, and urbanization as a way of life. They outline an innovative sociology of the city that scatters urban life along a series of sites and circulations, reinstating previously suppressed areas of contemporary urban life: from the presence of non-human activity to the centrality of distant connections. The implications of this viewpoint are traced through a series of chapters on power, economy and democracy. This concise and accessible book will be of interest to students and scholars in sociology, geography, urban studies, cultural studies and politics. .

Taming the Tide of Capital Flows

Author : Atish R. Ghosh
Publisher : MIT Press
ISBN 13 : 0262343762
Total Pages : 489 pages
Book Rating : 4.2/5 (623 download)

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Book Synopsis Taming the Tide of Capital Flows by : Atish R. Ghosh

Download or read book Taming the Tide of Capital Flows written by Atish R. Ghosh and published by MIT Press. This book was released on 2018-01-12 with total page 489 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive examination of policy measures intended to help emerging markets contend with large and volatile capital flows. While always episodic in nature, capital flows to emerging market economies have been especially volatile since the global financial crisis. After peaking at $680 billion in 2007, flows to emerging markets turned negative at the onset of crisis in 2008, then rebounded only to recede again during the U.S. sovereign debt downgrade in 2011. Since then, flows have continued to swing wildly, leaving emerging market policy makers wondering whether they can put in place policies during the inflow phase that will soften the blow when flows subsequently recede. This book offers the first comprehensive treatment of policy measures intended to help emerging markets contend with large and volatile capital flows. The authors, all IMF experts, explain that, in the spirit of liberalization and deregulation in the 1980s and 1990s, many emerging market governments eliminated capital inflow controls along with outflow controls. By 2012, however, capital inflow controls were again acknowledged as legitimate policy tools. Focusing on the macroeconomic and financial-stability risks associated with capital flows, the authors combine theoretical and empirical analysis to consider the interaction between monetary, exchange rate, macroprudential, and capital control policies to mitigate these risks. They examine the effectiveness of various policy tools, discuss the practical considerations and multilateral implications of their use, and provide concrete policy advice for dealing with capital inflows.

Boom and Bust Banking

Author : David M. Beckworth
Publisher :
ISBN 13 : 9781598130768
Total Pages : 0 pages
Book Rating : 4.1/5 (37 download)

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Book Synopsis Boom and Bust Banking by : David M. Beckworth

Download or read book Boom and Bust Banking written by David M. Beckworth and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Exploring the forceful renewal of the boom-and-bust cycle after several decades of economic stability, this book is a research-based review of the factors that caused the 2008 recession. It offers cutting-edge diagnoses of the recession and prescriptions on how to boost the economy from leading economists. The book concentrates on the Federal Reserve and its leading role in creating the economic boom and recession of the 2000s. Aimed at professional economists and readers well versed in the basic workings of the economy, it includes innovative proposals on how to avoid future boom-and-bust cycles.

Clothing Poverty

Author : Andrew Brooks
Publisher : Zed Books Ltd.
ISBN 13 : 1783600691
Total Pages : 224 pages
Book Rating : 4.7/5 (836 download)

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Book Synopsis Clothing Poverty by : Andrew Brooks

Download or read book Clothing Poverty written by Andrew Brooks and published by Zed Books Ltd.. This book was released on 2015-02-12 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: ‘An interesting and important account.’ Daily Telegraph Have you ever stopped and wondered where your jeans came from? Who made them and where? Ever wondered where they end up after you donate them for recycling? Following a pair of jeans, Clothing Poverty takes the reader on a vivid around-the-world tour to reveal how clothes are manufactured and retailed, bringing to light how fast fashion and clothing recycling are interconnected. Andrew Brooks shows how recycled clothes are traded across continents, uncovers how retailers and international charities are embroiled in commodity chains which perpetuate poverty, and exposes the hidden trade networks which transect the globe. Stitching together rich narratives, from Mozambican markets, Nigerian smugglers and Chinese factories to London’s vintage clothing scene, TOMS shoes and Vivienne Westwood’s ethical fashion lines, Brooks uncovers the many hidden sides of fashion.

The Money Illusion

Author : Scott Sumner
Publisher : University of Chicago Press
ISBN 13 : 0226826562
Total Pages : 415 pages
Book Rating : 4.2/5 (268 download)

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Book Synopsis The Money Illusion by : Scott Sumner

Download or read book The Money Illusion written by Scott Sumner and published by University of Chicago Press. This book was released on 2023-05-06 with total page 415 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first book-length work on market monetarism, written by its leading scholar. Is it possible that the consensus around what caused the 2008 Great Recession is almost entirely wrong? It’s happened before. Just as Milton Friedman and Anna Schwartz led the economics community in the 1960s to reevaluate its view of what caused the Great Depression, the same may be happening now to our understanding of the first economic crisis of the 21st century. Foregoing the usual relitigating of problems such as housing markets and banking crises, renowned monetary economist Scott Sumner argues that the Great Recession came down to one thing: nominal GDP, the sum of all nominal spending in the economy, which the Federal Reserve erred in allowing to plummet. The Money Illusion is an end-to-end case for this school of thought, known as market monetarism, written by its leading voice in economics. Based almost entirely on standard macroeconomic concepts, this highly accessible text lays the groundwork for a simple yet fundamentally radical understanding of how monetary policy can work best: providing a stable environment for a market economy to flourish.