Author: Kent Osband
Publisher: International Monetary Fund
ISBN: 1451845618
Category : Business & Economics
Languages : en
Pages : 26
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Book Description
It is not unusual for reforming socialist economies to relax wage controls without hardening budget constraints on enterprises or freeing consumer goods prices. This policy can be dangerously destabilizing. While higher wages permit workers to purchase more of some goods, they also tend to exacerbate shortages and to breed waste and corruption. Beyond a certain level, economy-wide wage hikes will worsen worker welfare. This is true regardless of whether deficit goods are strictly rationed, are sold randomly at official prices to queuing workers, or are offered to workers by “insiders” only at black market prices. However, the form of allocation does influence output and worker welfare.
Author: K. Osband
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: Financial Crisis Inquiry Commission
Publisher: Cosimo, Inc.
ISBN: 1616405414
Category : Political Science
Languages : en
Pages : 692
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Book Description
The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.
Author: Adam Tooze
Publisher: Penguin
ISBN: 0525558802
Category : Business & Economics
Languages : en
Pages : 720
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Book Description
WINNER OF THE LIONEL GELBER PRIZE A NEW YORK TIMES NOTABLE BOOK OF 2018 ONE OF THE ECONOMIST'S BOOKS OF THE YEAR A NEW YORK TIMES CRITICS' TOP BOOK "An intelligent explanation of the mechanisms that produced the crisis and the response to it...One of the great strengths of Tooze's book is to demonstrate the deeply intertwined nature of the European and American financial systems."--The New York Times Book Review From the prizewinning economic historian and author of Shutdown and The Deluge, an eye-opening reinterpretation of the 2008 economic crisis (and its ten-year aftermath) as a global event that directly led to the shockwaves being felt around the world today. We live in a world where dramatic shifts in the domestic and global economy command the headlines, from rollbacks in US banking regulations to tariffs that may ignite international trade wars. But current events have deep roots, and the key to navigating today’s roiling policies lies in the events that started it all—the 2008 economic crisis and its aftermath. Despite initial attempts to downplay the crisis as a local incident, what happened on Wall Street beginning in 2008 was, in fact, a dramatic caesura of global significance that spiraled around the world, from the financial markets of the UK and Europe to the factories and dockyards of Asia, the Middle East, and Latin America, forcing a rearrangement of global governance. With a historian’s eye for detail, connection, and consequence, Adam Tooze brings the story right up to today’s negotiations, actions, and threats—a much-needed perspective on a global catastrophe and its long-term consequences.
Author: John A. Allison
Publisher: McGraw Hill Professional
ISBN: 0071806784
Category : Business & Economics
Languages : en
Pages : 289
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Book Description
The #1 Wall Street Journal Bestseller “Required reading. . . . Shows how our economic crisis was a failure, not of the free market, but of government.” —Charles Koch, Chairman and CEO, Koch Industries, Inc. Did Wall Street cause the mess we are in? Should Washington place stronger regulations on the entire financial industry? Can we lower unemployment rates by controlling the free market? The answer is NO. Not only is free market capitalism good for the economy, says industry expert John Allison, it is our only hope for recovery. As the nation’s longest-serving CEO of a top-25 financial institution, Allison has had a unique inside view of the events leading up to the financial crisis. He has seen the direct effect of government incentives on the real estate market. He has seen how government regulations only make matters worse. And now, in this controversial wake-up call of a book, he has given us a solution. The national bestselling The Financial Crisis and the Free Market Cure reveals: Why regulation is bad for the market—and for the world What we can do to promote a healthy free market How we can help end unemployment in America The truth about TARP and the bailouts How Washington can help Wall Street build a better future for everyone With shrewd insight, alarming insider details, and practical advice for today’s leaders, this electrifying analysis is nothing less than a call to arms for a nation on the brink. You’ll learn how government incentives helped blow up the real estate bubble to unsustainable proportions, how financial tools such as derivatives have been wrongly blamed for the crash, and how Congress fails to understand it should not try to control the market—and then completely mismanages it when it tries. In the end, you’ll understand why it’s so important to put “free” back in free market. It’s time for America to accept the truth: the government can’t fix the economy because the government wrecked the economy. This book gives us the tools, the inspiration—and the cure.
Author: Stefanie Haeffele
Publisher: Springer Nature
ISBN: 3030393127
Category : Business & Economics
Languages : en
Pages : 160
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Book Description
Crises occur in all societies across world, and can be natural (such as hurricanes, flooding, and earthquakes), man-made (such as wars and economic downturns), or, often, a combination of both (such as famines, the flooding of New Orleans in 2005 after Hurricane Katrina and subsequent levy failures, and the earthquake, tsunami, and nuclear disaster in Japan in 2011). Crises cause fatalities, injuries, and property damages as well as introduce uncertainty and challenges for individuals, societies, and polities. Yet, we see individuals and communities rebounding effectively from crises all the time. How do communities go about returning to normalcy and beginning again the mundane life of every day affairs? This edited volume looks at bottom-up responses to crises. The chapters in this volume will highlight the ingenuity and persistence of individuals and private organizations as well as discuss the possibilities, limitations, and adaptability of bottom-up responses. It argues that there are many ways that local leaders, entrepreneurs, and community members can play a role in their own recovery by examining the capabilities, feedback mechanisms, and network effects of decentralized crisis response and recovery efforts. Chapters will focus on the role of local emergency managers in the disaster management process and offer suggestions for reform and the role of businesses, citizens, and children in providing crisis response and recovery. This book will also consider theories of self-governance and nonviolent action in encouraging and sustaining bottom-up recovery.
Author: Petter Naess
Publisher: Routledge
ISBN: 1134799918
Category : Social Science
Languages : en
Pages : 238
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Book Description
This book throws light onto the nature and causes of three different but strongly interconnected crises in contemporary societies worldwide: an economic crisis, an ecological crisis and a normative (moral and political) crisis. These crises are reflected in the profoundly inequitable distribution of wealth, resources and life opportunities around the world. If we follow the causal roots of these crises, we are led back to an inherent dynamic in the capitalist economic system itself, discursively expressed as neoclassical, mainstream economics. For instance, by conflating human needs with market demand, mainstream economics disregards the needs of those who do not have sufficient purchasing power, as well as any needs that cannot be quantified or monetised in some way. Mainstream economics also ignores the notion of natural limits. Furthermore, it seems that everything that is quantifiable is potentially for sale and this results in the substitution of nature, indigenous cultural traditions and various life forms with commodities and ‘human capital’. The latter is defined as the skills instrumental for continual economic growth. Besides critiquing the academic discipline of economics, this book also points to a number of dysfunctional and crisis-prone structures and practices of substantive economic life. It will be of interest to students and scholars working in philosophy, economics and environmental studies.
Author: International Labour Office
Publisher: International Labour Office
ISBN:
Category : Business & Economics
Languages : en
Pages : 120
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Book Description
The crisis has many possible outcomes. The Global Labour Column (where these articles first appeared) has endeavoured to explore all the possibilities, even if this means reopening difficult debates. The various alternatives are discussed with passion and expertise. The authors - prominent academics and trade union leaders from both North and South - differ in their views, but concur that it is time to adopt policies which protect workers and that social justice must be the objective. Providing a rich source of ideas, the authors' analyses do not shy away from pointing out the failures of unions, as they share the belief that a stronger and more inclusive union movement is essential to avoid wasting the crisis. This stimulating collection is accessible and essential reading for those who feel that returning to "business as usual" is simply not an option.
Author: Kevin Erdmann
Publisher: Rowman & Littlefield
ISBN: 1538122154
Category : Political Science
Languages : en
Pages : 322
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Book Description
The United States suffers from a shortage of well-placed homes. This was true even at the peak of the housing boom in 2005. Using a broad array of evidence on housing inflation, income, migration, homeownership trends, and international comparisons, Shut Out demonstrates that high home prices have been largely caused by the constrained housing supply in a handful of magnet cities leading the new economy. The same phenomenon is occurring in leading countries across the globe. Gentrifying cities have become exclusionary bastions in the new postindustrial economy. The US housing bubble that peaked in 2005 is more accurately described as a refugee crisis than a credit bubble. Surging demand for limited urban housing triggered a spike of migration away from the magnet cities among households with moderate and lower incomes who could no longer afford to remain, causing a brief contagion of high prices in the cities where the migrants moved. In this book, author Kevin Erdmann observes that the housing bubble has been broadly and incorrectly attributed to various “excesses.” Policymakers and economists concluded that our key challenge was that we had built too many homes. This misdiagnosis of the problem, according to Erdmann, led to misguided public polices, which were the primary cause of the subsequent financial crisis. A sort of moral panic about supposed excesses in home lending and construction led to destabilizing monetary and regulatory decisions. As the economy slumped, a sense of fatalism prevented the government from responding appropriately to the worsening situation. Shut Out provides a much-needed correction to the causes and consequences of financial crises and secular stagnation.
Author: Wilhelm Röpke
Publisher: Ludwig von Mises Institute
ISBN: 161016279X
Category : Business cycles
Languages : en
Pages : 240
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Book Description
"As a foundation for this book use has been made of the author's treatise on Krise and Konjunktur. Large parts have been translated, with many alterations, from the German ... while other parts written in English by the author have been added"--Pref. Includes bibliographical references.
