The Great Recession
- ISBN-10
- 981433863X
- ISBN-13
- 9789814338639
- Series
- The Great Recession
- Category
- Global Financial Crisis, 2008-2009
- Pages
- 288
- Language
- English
- Published
- 2010-07-16
- Publisher
- World Scientific
- Author
- Michael S. H. Heng
Description
Many books on the 2008 financial crisis and the current recession focus on the financial sector. Unlike them, this book takes the real economy as the starting point and it situates the downturn within the societal context over the last several decades. Important elements of the story include global manufacturing overcapacity and declining profitability, failure of advanced industrial economies to make a quantum jump in discoveries and innovations across a broad range of technologies, ascent of neo-liberalism after the fall of the Berlin Wall, the Asian financial crisis, the Japanese ?lost decade?, and the dot-com boom. This provides the backdrop of the birth of a market society, deregulation, easy credit, and financial excesses. The financial crisis reveals much that has gone astray in the business world over the last few decades ? short term thinking, manipulation of figures and image management at the cost of the basics. The financial sector has become an arena for accounting shenanigans and corporate skullduggery. It is also a symptom of deeper social and cultural change. Crisis of a very serious nature functions as a cleansing exercise. Already we have seen debates which re-examine values and ideas, state policy and business practices. If the world could rise to the challenge, history will view the crisis as a blessing in disguise and thus render it in positive terms.Contents: From Berlin Wall to Wall StreetA Tale of Two CrisesInsights from Japan's ?Lost Decade?Special Features of the 2008 CrisisBonfire of Financial ExcessesThe Moral EconomyA New Financial Landscape?Globalization and All ThatDon't Waste the Crisis Readership: General public and finance professionals.
Get the book
Other editions
-
- 2010
- 285 pages
- Paperback
- World Scientific
-
- 2018
- - pages
- Paperback
- Nova Science Publishers
-
- 2014-10-30
- 400 pages
- Paperback
- Cambridge University Press
Similar books
-
The Great Recession
By David B. Grusky, Bruce Western, Christopher WimerOfficially over in 2009, the Great Recession is now generally acknowledged to be the most devastating global economic crisis since the Great Depression.
-
The Great Recession and the Contradictions of Contemporary Capitalism
By Riccardo Bellofiore, Giovanna VertovaThis book offers plural perspectives on the Great Recession,
-
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again
By Atif Mian, Amir SufiArmed 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 the current economic malaise in Europe, were caused by a large run-up in household debt ...
-
The Great Recession: Market Failure or Policy Failure?
By Robert L. HetzelThese 'market-disorder' views emphasize excessive risk taking in financial markets and the need for government regulation. The present book argues for the alternative 'monetary-disorder' view of recessions.
-
Money in the Great Recession: Did a Crash in Money Growth Cause the Global Slump?
By Tim CongdonBut very few banks actually had losses in excess of their capital. The counter-argument presented in this stimulating new book is that the Great Recession was in fact caused by a collapse in the rate of change of the quantity of money.
-
Confronting Policy Challenges of the Great Recession: Lessons for Macroeconomic Policy
By Eskander AlviThis book presents a notable group of macroeconomists who describe the unprecedented events and often extraordinary policies put in place to limit the economic damage suffered during the Great Recession and then to put the economy back on ...
-
Paying the Price: Ending the Great Recession and Ensuring a New American Century
By Mark ZandiOnly a few years ago, the U.S. financial system and economy were near collapse.
-
The Great Recession
By Michael RobertsMichael Roberts forecast that it would happen a few years before and in this book he explains why the Great Recession happened - relying on Marx's analysis of the laws of motion in a capitalist economy.
-
Floored!: How a Misguided Fed Experiment Deepened and Prolonged the Great Recession
By George SelginFloored! offers a matchless account of our post-crisis monetary system's history and shortcomings.
-
Hall of Mirrors: The Great Depression, the Great Recession, and the Uses-And Misuses-of History
By Barry EichengreenThis political backlash, according to Thomas Ferguson and Peter Temin, was what precipitated the German crisis.8 Brüning's unrelenting austerity, by plunging the economy deeper into recession, increased political polarization.