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.

Download or read book From Malaise to Meltdown written by Michael Lee and published by . This book was released on 2020 with total page 261 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.

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.

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.

Download or read book Inglorious written by Joanna Kavenna and published by Metropolitan Books. This book was released on 2008-05-27 with total page 309 pages. Available in PDF, EPUB and Kindle. Book excerpt: A darkly comic novel about a woman on the edge of a nervous breakdown, set against the backdrop of a London awash with faithless lovers, cutthroat strivers, and so-called friends One day successful young journalist and dedicated urbanite Rosa Lane sends her boss an e-mail that says "I quit" and then walks out of her job. She can't explain why—not to Liam, who's lived with her for years; not to her friends; not to her anxious, recently widowed father. All Rosa knows is that she needs to find enlightenment, to somehow understand her mother's death and do more than just earn her living. Thus begins the piercingly wise and bitingly funny odyssey of Rosa Lane. Along the way, she is deceived by her lover, evicted by her roommate, threatened by her bank manager, picked over by prospective employers, befuddled by philosophy, and tormented by omnivorous London. Brought very low indeed, Rosa in her desperation makes a final assault on those who have done her wrong, leading to the beginning of her return to normality—whatever that is. In a remarkable fiction debut, Joanna Kavenna displays lacerating wit, a perfect eye for social hypocrisies, and great depths of compassion to create a triumphant modern heroine.

Download or read book British Working Class Fiction written by Roberto del Valle Alcalá and published by Bloomsbury Publishing. This book was released on 2016-02-11 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: British Fiction and the Struggle Against Work offers an account of British literary responses to work from the 1950s to the onset of the financial crisis of 2008/9. Roberto del Valle Alcalá argues that throughout this period, working-class writing developed new strategies of resistance against the social discipline imposed by capitalist work. As the latter becomes an increasingly pervasive and inescapable form of control and as its nature grows abstract, diffuse, and precarious, writing about it acquires a new antagonistic quality, producing new forms of subjective autonomy and new imaginaries of a possible life beyond its purview. By tracing a genealogy of working-class authors and texts that in various ways defined themselves against the social discipline imposed by post-war capitalism, this book analyses the strategies adopted by workers in their attempts to identify and combat the source of their oppression. Drawing on the work of a wide range of theorists including Deleuze and Guattari, Giorgio Agamben and Antonio Negri, Alcalá offers a systematic and innovative account of British literary treatments of work. The book includes close readings of fiction by Alan Sillitoe, David Storey, Nell Dunn, Pat Barker, James Kelman, Irvine Welsh, Monica Ali, and Joanna Kavenna.

Download or read book The Great Stagnation written by Tyler Cowen and published by Penguin. This book was released on 2011-01-25 with total page 71 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tyler Cowen’s controversial New York Times bestseller—the book heard round the world that ignited a firestorm of debate and redefined the nature of America’s economic malaise. America has been through the biggest financial crisis since the great Depression, unemployment numbers are frightening, media wages have been flat since the 1970s, and it is common to expect that things will get worse before they get better. Certainly, the multidecade stagnation is not yet over. How will we get out of this mess? One political party tries to increase government spending even when we have no good plan for paying for ballooning programs like Medicare and Social Security. The other party seems to think tax cuts will raise revenue and has a record of creating bigger fiscal disasters that the first. Where does this madness come from? As Cowen argues, our economy has enjoyed low-hanging fruit since the seventeenth century: free land, immigrant labor, and powerful new technologies. But during the last forty years, the low-hanging fruit started disappearing, and we started pretending it was still there. We have failed to recognize that we are at a technological plateau. The fruit trees are barer than we want to believe. That's it. That is what has gone wrong and that is why our politics is crazy. In The Great Stagnation, Cowen reveals the underlying causes of our past prosperity and how we will generate it again. This is a passionate call for a new respect of scientific innovations that benefit not only the powerful elites, but humanity as a whole.

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?

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.

Download or read book Better Stronger Faster written by Daniel Gross and published by Simon and Schuster. This book was released on 2012-05-08 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial meltdown, a deep recession, and political polarization—combined with strong growth outside the United States—have led to a global bubble of pessimism surrounding America’s economic prospects. Bloated with debt, and outpaced by China and other emerging markets, the United States has been left for dead as an economic force. But in this time of grim predictions, Daniel Gross, Yahoo! financial columnist and author of Dumb Money, offers a refreshingly optimistic take on our nation’s economic prospects, examining the positive trends that point to a better, stronger future. Widely respected for his Newsweek and Slate coverage of the crash and the recovery, Daniel Gross shows that much of the talk about decline is misplaced. In the wake of the crash, rather than accept the inevitability of a Japan-style lost decade, America’s businesses and institutions tapped into the very strengths that built the nation’s economy into a global powerhouse in the first place: speed, ingenuity, adaptability, pragmatism, entrepreneurship, and, most significant, an ability to engage with the world. As the United States wallowed in self-pity, the world continued to see promise in what America has to offer—buying exports, investing in the United States, and adopting American companies and business models as their own. Global growth, it turns out, is not a zero-sum game. Better, Stronger, Faster is an account of the remarkable reconstruction and reorientation that started in March 2009, a period that Gross compares to March 1933—as both marked the start of unexpected recoveries. As the U.S. public sector undertook aggressive fiscal and monetary actions, the private sector sprang into action. Companies large and small restructured, tapped into long-dormant internal resources, and invested for growth, at home and abroad. Between 2009 and 2011, as Europe struggled with a cascade of crises, the U.S. got back on its feet—and began to run. Through stories of innovative solutions devised by policy makers, businesses, investors, and consumers, Gross explains how America has the potential to emerge from this period, not as the unrivaled ruler of the global economy but as a healthier leader and an enabler of sustainable growth.

Download or read book The Business of Innovation written by Jay Mitra and published by SAGE. This book was released on 2017-04-17 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: Moving beyond the narrow confines of a “how to” of innovation management, The Business of Innovation takes a contemporary approach reflecting on the wider, external contexts in which management decisions are made.

Download or read book Financial Alchemy in Crisis written by Anastasia Nesvetailova and published by Pluto Press. This book was released on 2010-06-15 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: In July 2007, the combination of a seemingly unstoppable rise in house prices and bullish banks swimming in liquidity meant that almost anyone could get a mortgage in the UK or US. Little more than a month later the supply of credit dried up practically overnight, leaving the world wondering how bank liquidity could suddenly vanish. In Financial Alchemy in Crisis, Anastasia Nesvetailova shows that this liquidity never actually existed. The rise of sophisticated financial instruments created what appeared to be an abundance of liquid funds but was in fact a credit pyramid. As soon as house prices stopped rising the reality was exposed. Nesvetailova's bold and radical analysis explains why the credit crisis was an inevitable consequence of entrusting the world economy to financiers who believe that they can 'create' money and wealth.

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.

Download or read book Culture War written by Telly Davidson and published by McFarland. This book was released on 2016-07-28 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: What didn't you like about the 1990s--the peace or the prosperity? Setting aside nostalgia for the end of the 20th century, this book takes a candid look at the decade after the Cold War and before 9/11, when America's culture war began with the election of a media-savvy, Baby Boomer president (and his liberal feminist wife). Bill Clinton's postmodern administration betokened gay equality, an education-based labor force and a race and gender-diverse workplace and government, panicking conservatives and sparking the 1994 Republican Revolution. Meanwhile, with the advent of the 24-hour cable news cycle and the Internet, a media "punditocracy" arose. Parsing every event from the O.J. Simpson trial to the Monica Lewinsky scandal, commentators and talk show hosts spun news, politics and pop culture until they became one thing. Beginning with the "Red and Blue" partitioning of America that would nurture the Tea Party, and ending with the 9/11 attacks, this examination of the 1990s demonstrates how the decade shaped the world we live in today.

Download or read book Routledge Handbook of Contemporary Japan written by Hiroko Takeda and published by Routledge. This book was released on 2020-09-21 with total page 650 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Routledge Handbook of Contemporary Japan presents a synthesized, interdisciplinary study of contemporary Japan based on up-to-date theoretical models designed to provide readers with a comprehensive and full understanding of the dynamics of contemporary Japan. In order to achieve this, the Handbook is organized into two parts. Part I, ‘Foundations’, clarifies the state of contemporary Japan topic by topic by referring to the latest theoretical developments in the relevant disciplinary fields of politics, international relations, economy, society, culture and the personal. Part II, ‘Issues’, then offers a series of concrete analyses building upon the theoretical discussions introduced in Part I to help undergraduate and postgraduate students learn how to conduct independent analysis. Locating Japan in a comparative and interdisciplinary perspective, this Handbook is an essential resource for students and scholars interested in Japanese studies, Asian studies and global studies.

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.

Download or read book Fanged Noumena written by Nick Land and published by MIT Press. This book was released on 2011-04-01 with total page 678 pages. Available in PDF, EPUB and Kindle. Book excerpt: A dizzying trip through the mind(s) of the provocative and influential thinker Nick Land. During the 1990s British philosopher Nick Land's unique work, variously described as “rabid nihilism,” “mad black deleuzianism,” and “cybergothic,” developed perhaps the only rigorous and culturally-engaged escape route out of the malaise of “continental philosophy” —a route that was implacably blocked by the academy. However, Land's work has continued to exert an influence, both through the British “speculative realist” philosophers who studied with him, and through the many cultural producers—writers, artists, musicians, filmmakers—who have been invigorated by his uncompromising and abrasive philosophical vision. Beginning with Land's early radical rereadings of Heidegger, Nietzsche, Kant and Bataille, the volume collects together the papers, talks and articles of the mid-90s—long the subject of rumour and vague legend (including some work which has never previously appeared in print)—in which Land developed his futuristic theory-fiction of cybercapitalism gone amok; and ends with his enigmatic later writings in which Ballardian fictions, poetics, cryptography, anthropology, grammatology and the occult are smeared into unrecognisable hybrids. Fanged Noumena gives a dizzying perspective on the entire trajectory of this provocative and influential thinker's work, and has introduced his unique voice to a new generation of readers.