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Author: E Ray Canterbery
Publisher: World Scientific
ISBN: 9814338176
Category : Business & Economics
Languages : en
Pages : 208
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Book Description
There is an endless supply of rave reviews for Alan Greenspan and the Fed. This is due to Greenspan's political manipulations, the reluctance of politicians to challenge the Federal Reserve, the press corps' willingness to trade glowing reviews for access, and private economists with ambitions of becoming Fed Governors. With Greenspan's announced retirement, the devastating effects of Fed actions are mounting. Even as institutional reforms are suggested, it is shown how they have been blocked by an ideology favored by financial wealth-holders at the expense of wage labor.This thought-provoking new title, by the highly acclaimed author of Wall Street Capitalism and A Brief History of Economics, provides a much-needed counterbalance to the mythical distortions of Alan Greenspan. Canterbery exposes Greenspan's fundamentalist market ideology as overwhelming rationality in the making of economic policy. He depicts a Fed selfishly guarding its political independence, even as Greenspan has his way in virtually every major economic and social policy affecting the global economy since the Ford Administration.This book reveals the hidden nodes of power that give the Fed vast authority over the global economy. It also explains why it is so important not only to understand those powers, but also to appreciate why they are resistant to moderation.
Author: E Ray Canterbery
Publisher: World Scientific
ISBN: 9814338176
Category : Business & Economics
Languages : en
Pages : 208
Get Book Here
Book Description
There is an endless supply of rave reviews for Alan Greenspan and the Fed. This is due to Greenspan's political manipulations, the reluctance of politicians to challenge the Federal Reserve, the press corps' willingness to trade glowing reviews for access, and private economists with ambitions of becoming Fed Governors. With Greenspan's announced retirement, the devastating effects of Fed actions are mounting. Even as institutional reforms are suggested, it is shown how they have been blocked by an ideology favored by financial wealth-holders at the expense of wage labor.This thought-provoking new title, by the highly acclaimed author of Wall Street Capitalism and A Brief History of Economics, provides a much-needed counterbalance to the mythical distortions of Alan Greenspan. Canterbery exposes Greenspan's fundamentalist market ideology as overwhelming rationality in the making of economic policy. He depicts a Fed selfishly guarding its political independence, even as Greenspan has his way in virtually every major economic and social policy affecting the global economy since the Ford Administration.This book reveals the hidden nodes of power that give the Fed vast authority over the global economy. It also explains why it is so important not only to understand those powers, but also to appreciate why they are resistant to moderation.
Author: Les Leopold
Publisher: Chelsea Green Publishing
ISBN: 1603582223
Category : Business & Economics
Languages : en
Pages : 242
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Book Description
How could the best and brightest (and most highly paid) in finance crash the global economy and then get us to bail them out as well? What caused this mess in the first place? Housing? Greed? Dumb politicians? What can Main Street do about it? In The Looting of America, Leopold debunks the prevailing media myths that blame low-income home buyers who got in over their heads, people who ran up too much credit-card debt, and government interference with free markets. Instead, readers will discover how Wall Street undermined itself and the rest of the economy by playing and losing at a highly lucrative and dangerous game of fantasy finance. He also asks some tough questions: Why did Americans let the gap between workers' wages and executive compensation grow so large? Why did we fail to realize that the excess money in those executives' pockets was fueling casino-style investment schemes? Why did we buy the notion that too-good-to-be-true financial products that no one could even understand would somehow form the backbone of America's new, postindustrial economy? How do we make sure we never give our wages away to gamblers again? And what can we do to get our money back? In this page-turning narrative (no background in finance required) Leopold tells the story of how we fell victim to Wall Street's exotic financial products. Readers learn how even school districts were taken in by "innovative" products like collateralized debt obligations, better known as CDOs, and how they sucked trillions of dollars from the global economy when they failed. They'll also learn what average Americans can do to ensure that fantasy finance never rules our economy again. As the country teeters on the brink of what could be the next Great Depression, we should be especially wary of the so-called financial experts who got us here, and then conveniently got themselves out. So far, it appears they've won the battle, but The Looting of America refuses to let them write the history--or plan its aftermath.
Author: Will Storr
Publisher: Abrams
ISBN: 1468315900
Category : Social Science
Languages : en
Pages : 296
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Book Description
“An intriguing odyssey” though the history of the self and the rise of narcissism (The New York Times). Self-absorption, perfectionism, personal branding—it wasn’t always like this, but it’s always been a part of us. Why is the urge to look at ourselves so powerful? Is there any way to break its spell—especially since it doesn’t necessarily make us better or happier people? Full of unexpected connections among history, psychology, economics, neuroscience, and more, Selfie is a “terrific” book that makes sense of who we have become (NPR’s On Point). Award-winning journalist Will Storr takes us from ancient Greece, through the Christian Middle Ages, to the self-esteem evangelists of 1980s California, the rise of the “selfie generation,” and the era of hyper-individualism in which we live now, telling the epic tale of the person we all know so intimately—because it’s us. “It’s easy to look at Instagram and selfie-sticks and shake our heads at millennial narcissism. But Will Storr takes a longer view. He ignores the easy targets and instead tells the amazing 2,500-year story of how we’ve come to think about our selves. A top-notch journalist, historian, essayist, and sleuth, Storr has written an essential book for understanding, and coping with, the 21st century.” —Nathan Hill, New York Times-bestselling author of The Nix “This fascinating psychological and social history . . . reveals how biology and culture conspire to keep us striving for perfection, and the devastating toll that can take.”—The Washington Post “Ably synthesizes centuries of attitudes and beliefs about selfhood, from Aristotle, John Calvin, and Freud to Sartre, Ayn Rand, and Steve Jobs.” —USA Today “Eminently suitable for readers of both Yuval Noah Harari and Daniel Kahneman, Selfie also has shades of Jon Ronson in its subversive humor and investigative spirit.” —Bookseller “Storr is an electrifying analyst of Internet culture.” —Financial Times “Continually delivers rich insights . . . captivating.” —Kirkus Reviews
Author: E Ray Canterbery
Publisher: World Scientific
ISBN: 9814603503
Category : Business & Economics
Languages : en
Pages : 313
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Book Description
Since its onset in late 2007, few expected the Great Recession to be protracted for over half a decade across the world. The Rise and Fall of Global Austerity explains the origins and history of austerity, severe implications of the idea of it and how the continuation of the Great Recession was a by-product of austerity measures. Covering austerity policies that are in place in the United States, Europe, and other countries, E Ray Canterbery explains why austerity is detrimental for economies, economic policy and the general health of populations around the world. He highlights the connection between public debt and austerity policies and shows how the austerity lobby works in the United States to achieve its goals. Besides presenting a critique of the rationale for austerity, Canterbery also recommends monetary, fiscal, and incomes policy remedies, and stresses why economic growth and full employment are more ideal and pragmatic antidotes to the Great Recession.
Author: E. Ray Canterbery
Publisher: World Scientific
ISBN: 9812837744
Category : Business & Economics
Languages : en
Pages : 262
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Book Description
This book is the first in the field to cover exclusively the modern radical economists. Science has always had its radicals; economics is unexceptional in this regard. The book begins with the persona of Karl Marx and his soulmate Friedrich Engels, the most radical of all, continuing with the central ideas of Marx, including his theory of capitalism and an understanding of why, in Marx's view, capitalism is doomed. Thereafter, Thorstein Veblen fills the role as the USA radical who founded the only uniquely American school of economics - the institutionalist school. This is followed by Joseph Schumpeter and his theory of capitalist motion. According to Schumpeter, the demise of capitalism is self-inflicted through creative destruction. The bestselling authors, Robert Heilbroner and John Kenneth Galbraith, straddle both the insitutionalist and Post Keynesian schools. The new left radicals emanated from Galbraith's Harvard University and are still around today. The heyday of the new right came during the administration of Ronald Reagan and was led by the neo-Austrians. Finally, the book concludes by analyzing the Post Keynesians' claim to be the legitimate heirs to Keynesianism. Thus far, they fall into the radical camp.This book is also available as a set with Volume I: The Foundation and Volume II: The Modern Superstructure.
Author: Jeff Madrick
Publisher: Vintage
ISBN: 1400075661
Category : Business & Economics
Languages : en
Pages : 482
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Book Description
A vivid history of the recent economics of greed in the United States. This book explores how the pursuit of immense personal wealth has led to economic inequity and instability in the country. “A fascinating and deeply disturbing tale of hypocrisy, corruption, and insatiable greed. . . . A much-needed reminder of just how we got into the mess we’re in.”—The New York Review of Books Age of Greed shows how the single-minded and selfish pursuit of immense personal wealth has been on the rise in the United States. Economic journalist Jeff Madrick tells this story through incisive profiles of the individuals responsible for this dramatic shift in our country’s fortunes, from the architects of the free-market economic philosophy (such as Milton Friedman and Alan Greenspan) to the politicians and businessmen (including Nixon, Reagan, Boesky, and Soros) who put it into practice. The stories detail how a movement initially conceived as a moral battle for freedom instead brought about some of our nation's most pressing economic problems, including the intense economic inequity and instability America suffers from today. This is an indispensible guide to understanding the 1 percent.
Author: E. Ray Canterbery
Publisher: World Scientific
ISBN: 9814322776
Category : Business & Economics
Languages : en
Pages : 383
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Book Description
Ch. 1. At inception -- ch. 2. The Great Depression -- ch. 3. Primal Keynesianism and the new deal -- ch. 4. A post Keynesian framework -- ch. 5. The race of casino capitalism -- ch. 6. The housing bubble conundrum -- ch. 7. The anatomy of the subprime mortgage bubble and collapse -- ch. 8. The fallout from the housing collapse -- ch. 9. The great money and banking panic -- ch. 10. The unconventional use of monetary policy -- ch. 11. The deep decline in output and employment -- ch. 12. The unconventional use of fiscal policy -- ch. 13. The great inequalities -- ch. 14. Policies : old and new -- ch. 15. Prospects
Author: Johan
Publisher: Agate Publishing
ISBN: 157284650X
Category : Business & Economics
Languages : en
Pages : 290
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Book Description
The consensus on Alan Greenspan's performance as Fed chair used to be extremely positive, but more and more it's been called into question. Now, 2008 has seen Ben Bernanke in the eye of a storm that was created largely during Greenspan's tenure. His management of the bubble of all bubbles will be a decisive factor in whether this crisis will be limited in its impact on the real economy or whether it directly leads to a major recession. This is Bernanke's Test. In examining the challenges facing Bernanke, author Johan Van Overtveldt reviews Greenspan's long record as Fed chair, as well as Ben Bernanke's career as an economist prior to replacing Greenspan. The book offers much-needed historical context by exploring the role and reach of the central banker, and how former Fed chairmen — Benjamin Strong, William McChesney Martin, Arthur Burns, and especially Paul Volcker — dealt with the same complex issues Bernanke faces today.
Author: Melinda Cooper
Publisher: Princeton University Press
ISBN: 1942130945
Category : Political Science
Languages : en
Pages : 436
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Book Description
A thorough investigation of the current combination of austerity and extravagance that characterizes government spending and central bank monetary policy At the close of the 1970s, government treasuries and central banks took a vow of perpetual self-restraint. To this day, fiscal authorities fret over soaring public debt burdens, while central bankers wring their hands at the slightest sign of rising wages. As the brief reprieve of coronavirus spending made clear, no departure from government austerity will be tolerated without a corresponding act of penance. Yet we misunderstand the scope of neoliberal public finance if we assume austerity to be its sole setting. Beyond the zero-sum game of direct claims on state budgets lies a realm of indirect government spending that escapes the naked eye. Capital gains are multiply subsidized by a tax system that reserves its greatest rewards for financial asset holders. And for all its airs of haughty asceticism, the Federal Reserve has become adept at facilitating the inflation of asset values while ruthlessly suppressing wages. Neoliberalism is as extravagant as it is austere, and this paradox needs to be grasped if we are to challenge its core modus operandi. Melinda Cooper examines the major schools of thought that have shaped neoliberal common sense around public finance. Focusing, in particular, on Virginia school public choice theory and supply-side economics, she shows how these currents produced distinct but ultimately complementary responses to the capitalist crisis of the 1970s. With its intellectual roots in the conservative Southern Democratic tradition, Virginia school public choice theory espoused an austere doctrine of budget balance. The supply-side movement, by contrast, advocated tax cuts without spending restraint and debt issuance without guilt, in an apparent repudiation of austerity. Yet, for all their differences, the two schools converged around the need to rein in the redistributive uses of public spending. Together, they drove a counterrevolution in public finance that deepened the divide between rich and poor and revived the fortunes of dynastic wealth. Far-reaching as the neoliberal counterrevolution has been, Cooper still identifies a counterfactual history of unrealized possibilities in the capitalist crisis of the 1970s. She concludes by inviting us to rethink the concept of revolution and raises the question: Is another politics of extravagance possible?
Author: Emerald Group Publishing Limited
Publisher: Emerald Group Publishing
ISBN: 1785608886
Category : Business & Economics
Languages : en
Pages : 198
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Book Description
New Perspectives in Economics: A United States Focus is a new collection of topical articles that examine the changing economic landscape in the United States of America. This book provides researchers, professionals, managers and policy makers with an easy-to-read selection of interesting research articles.
