Download or read book The Age of Stagnation written by Satyajit Das and published by Prometheus Books. This book was released on 2016 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy is entering an era of protracted stagnation, similar to what Japan has experienced for over a decade. That is the message of this brilliant and controversial summary of our current economic predicament from an internationally respected consultant and commentator on financial markets, who predicted the Global Financial Crisis of 2008. The author challenges the assumption that growth can be perpetual and questions the ability of political leaders to enact the tough structural changes needed. He is particularly critical of the "easy money" approach to dealing with the great recession of 2008, citing the dangers of excessive debt and deep-seated fundamental imbalances. The fallout of these poor policies, he argues, will affect not only the business sector, but also the lifestyles and prosperity of average citizens and future generations. The author concludes with a thought experiment illustrating the large-scale changes that will be necessary to restore economic, financial, and social sustainability. This experiment has already been tried in Iceland, which went bankrupt in the wake of the 2008 crisis, and now, after a painful adjustment, is on the road to recovery. Written for the lay reader and peppered with witty anecdotes, this immensely readable book clearly explains the missteps that created the current dilemma, why a recovery has proved elusive, and the difficult remedies that must eventually be applied to ensure a stable future.

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 Average Is Over written by Tyler Cowen and published by Penguin. This book was released on 2013-09-12 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: Renowned economist and author of Big Business Tyler Cowen brings a groundbreaking analysis of capitalism, the job market, and the growing gap between the one percent and minimum wage workers in this follow-up to the New York Times bestseller The Great Stagnation. The United States continues to mint more millionaires and billionaires than any country ever. Yet, since the great recession, three quarters of the jobs created here pay only marginally more than minimum wage. Why is there growth only at the top and the bottom? Economist and bestselling author Tyler Cowen explains that high earners are taking ever more advantage of machine intelligence and achieving ever-better results. Meanwhile, nearly every business sector relies less and less on manual labor, and that means a steady, secure life somewhere in the middle—average—is over. In Average is Over, Cowen lays out how the new economy works and identifies what workers and entrepreneurs young and old must do to thrive in this radically new economic landscape.

Download or read book The Only Game in Town written by Mohamed A. El-Erian and published by Random House. This book was released on 2016-01-26 with total page 338 pages. Available in PDF, EPUB and Kindle. Book excerpt: NEW YORK TIMES BESTSELLER • A roadmap to what lies ahead and the decisions we must make now to stave off the next global economic and financial crisis, from one of the world’s most influential economic thinkers and the author of When Markets Collide • Updated, with a new chapter and author’s note “The one economic book you must read now . . . If you want to understand [our] bifurcated world and where it’s headed, there is no better interpreter than Mohamed El-Erian.”—Time Our current economic path is coming to an end. The signposts are all around us: sluggish growth, rising inequality, stubbornly high pockets of unemployment, and jittery financial markets, to name a few. Soon we will reach a fork in the road: One path leads to renewed growth, prosperity, and financial stability, the other to recession and market disorder. In The Only Game in Town, El-Erian casts his gaze toward the future of the global economy and markets, outlining the choices we face both individually and collectively in an era of economic uncertainty and financial insecurity. Beginning with their response to the 2008 global crisis, El-Erian explains how and why our central banks became the critical policy actors—and, most important, why they cannot continue is this role alone. They saved the financial system from collapse in 2008 and a multiyear economic depression, but lack the tools to enable a return to high inclusive growth and durable financial stability. The time has come for a policy handoff, from a prolonged period of monetary policy experimentation to a strategy that better targets what ails economies and distorts the financial sector—before we stumble into another crisis. The future, critically, is not predestined. It is up to us to decide where we will go from here as households, investors, companies, and governments. Using a mix of insights from economics, finance, and behavioral science, this book gives us the tools we need to properly understand this turning point, prepare for it, and come out of it stronger. A comprehensive, controversial look at the realities of our global economy and markets, The Only Game in Town is required reading for investors, policymakers, and anyone interested in the future.

Download or read book The Age of Oversupply written by Daniel Alpert and published by Penguin. This book was released on 2014-08-26 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: Governments and central banks across the developed world have tried every policy tool imaginable, yet our economies remain sluggish or worse. How did we get here, and how can we compete and prosper once more? Daniel Alpert argues that a global labor glut, excess productive capacity, and a rising ocean of cheap capital have kept the Western economies mired in underemployment and anemic growth. We failed to anticipate the impact of the torrent of labor and capital unleashed by formerly socialist economies. Many policymakers miss the connection between global oversupply and the lack of domestic investment and growth. But Alpert shows how they are intertwined and offers a bold, fresh approach to fixing our economic woes. Twitter: @DanielAlpert

Download or read book Smart Machines and Service Work written by Jason E. Smith and published by Reaktion Books. This book was released on 2020-12-09 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent decades digital devices have reshaped daily life, while tech companies’ stock prices have thrust them to the forefront of the business world. In this rapid, global development, the promise of a new machine age has been accompanied by worries about accelerated joblessness thanks to new forms of automation. Jason E. Smith looks behind the techno-hype to lay out the realities of a period of economic slowdown and expanding debt: low growth rates and an increase of labor-intensive jobs at the bottom of the service sector. He shows how increasing inequality and poor working conditions have led to new forms of workers’ struggles. Ours is less an age of automation, Smith contends, than one in which stagnation is intertwined with class conflict.

Download or read book States and Development written by M. Lange and published by Palgrave Macmillan. This book was released on 2005-08-11 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the most important issues in comparative politics is the relationship between the state and society and the implications of different relationships for long-term social and economic development. Exploring the contribution states can make to overcoming collective action problems and creating collective goods favourable to social, economic, and political development, the contributors to this significant volume examine how state-society relations as well as features of state structure shape the conditions under which states seek to advance development and the conditions that make success more or less likely. Particular focus is given to bureaucratic oversight, market functioning, and the assertion of democratic demands discipline state actions and contribute to state effectiveness. These propositions and the social mechanisms underlying them are examined in comparative historical and cross-national statistical analyses. The conclusion will also evaluate the results for current policy concerns.

Download or read book Extreme Money written by Satyajit Das and published by FT Press. This book was released on 2011 with total page 481 pages. Available in PDF, EPUB and Kindle. Book excerpt: Everything from home mortgages to climate change has become financialized, as vast fortunes are generated by individuals who build nothing of lasting value. Das shows how "extreme money" has become ever more unreal; how "voodoo banking" continues to generate massive phony profits even now; and how a new generation of "Masters of the Universe" has come to domiinate the world.

Download or read book Responsibility Beyond Growth written by de Saille, Stevienna and published by Policy Press. This book was released on 2020-07-15 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: Critically assessing growth-based models of innovation policy, this enlightening study sparks new debate on the role and nature of responsible innovation. Drawing on insights from economics, politics, and science and technology studies, it proposes the concept of 'responsible stagnation' as an expansion of present discussions about growth, degrowth, responsibility and innovation within planetary limitations. This important intervention explores real-world relationships between the political economy, innovation policy and concepts of responsibility, and will be an invaluable resource for individuals and civil society organizations who seek to promote responsible innovation.

Download or read book The Decadent Society written by Ross Douthat and published by Avid Reader Press / Simon & Schuster. This book was released on 2021-03-16 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the New York Times columnist and bestselling author of Bad Religion, a “clever and stimulating” (The New York Times Book Review) portrait of how our turbulent age is defined by dark forces seemingly beyond our control. The era of the coronavirus has tested America, and our leaders and institutions have conspicuously failed. That failure shouldn’t be surprising: Beneath social-media frenzy and reality-television politics, our era’s deep truths are elite incompetence, cultural exhaustion, and the flight from reality into fantasy. Casting a cold eye on these trends, The Decadent Society explains what happens when a powerful society ceases advancing—how the combination of wealth and technological proficiency with economic stagnation, political stalemate, and demographic decline creates a unique civilizational crisis. Ranging from the futility of our ideological debates to the repetitions of our pop culture, from the decline of sex and childbearing to the escapism of drug use, Ross Douthat argues that our age is defined by disappointment—by the feeling that all the frontiers are closed, that the paths forward lead only to the grave. Correcting both optimism and despair, Douthat provides an enlightening explanation of how we got here, how long our frustrations might last, and how, in renaissance or catastrophe, our decadence might ultimately end.

Download or read book Full Recovery Or Stagnation written by Alvin H. Hansen and published by . This book was released on 1983 with total page 349 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Handbook of Economic Stagnation written by Randall Wray and published by Elsevier. This book was released on 2022-04-27 with total page 430 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of Economic Stagnation takes a broad view, including contributions from orthodox and heterodox economists who examine situations in countries and worldwide regions, including Japan and the Euro area. To be sure, stagnation is periodically relieved by short economic bursts usually brought on by unsustainable asset price bubbles. Once the bubbles burst, stagnation returns. This book's fresh, comprehensive approach to the topic makes it the premier source for anyone affected by these cycles. Synthesizes and organizes diverse perspectives about crisis economics and future economic growth Emphasizes the relationships among stagnation, international economics, and the global distribution of labor Includes Japan and the Euro zone as well as other countries and regions worldwide

Download or read book The Rise and Fall of American Growth written by Robert J. Gordon and published by Princeton University Press. This book was released on 2017-08-29 with total page 785 pages. Available in PDF, EPUB and Kindle. Book excerpt: How America's high standard of living came to be and why future growth is under threat In the century after the Civil War, an economic revolution improved the American standard of living in ways previously unimaginable. Electric lighting, indoor plumbing, motor vehicles, air travel, and television transformed households and workplaces. But has that era of unprecedented growth come to an end? Weaving together a vivid narrative, historical anecdotes, and economic analysis, The Rise and Fall of American Growth challenges the view that economic growth will continue unabated, and demonstrates that the life-altering scale of innovations between 1870 and 1970 cannot be repeated. Gordon contends that the nation's productivity growth will be further held back by the headwinds of rising inequality, stagnating education, an aging population, and the rising debt of college students and the federal government, and that we must find new solutions. A critical voice in the most pressing debates of our time, The Rise and Fall of American Growth is at once a tribute to a century of radical change and a harbinger of tougher times to come.

Download or read book The American Technological Challenge written by Jan Vijg and published by Algora Publishing. This book was released on 2011 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: The American Technological Challenge - Stagnation and Decline in the 21st Centuryrefutes the myth that we live in the most innovative of times. Inventions themselves are only one of the factors that determine the technological fate of a society. Sometimes, inventions are adopted, and eagerly; sometimes not. The history of technological progress, and the historical and societal factors that impel or restrain the adoption of inventions, are explored in the book. New, life-changing inventions have become rare and in spite of ample vocal support of innovation, an increasingly complacent society has lost its taste for risk and often actively resists change. Far from being unique, technology slowdowns are recurrent events in history, occurring in civilizations that have reached the zenith of their success. They are the inevitable fate of an increasingly regulated, successful society. Most people would characterize the dawn of the 21st century as the age of technological progress par excellence. If you are one of them, then, think again. While our parents, grandparents and great-grandparents witnessed life-changing inventions every decade, very little major new technology has seen the light of day over the last half century. We find ourselves in the midst of a technology slowdown! This book is about the causes and consequences of technology slowdowns, which are not unique but recurrent events in human history. They occur not in times of upheaval, when violent interstate conflicts are the order of the day. Such periods foster innovation and allow major, breakthrough inventions to be adopted quickly. Instead, innovation seriously stalls in times that are peaceful, when governments reign supreme and citizens are encapsulated by layers of benign regulation to protect them against all possible harm. We find ourselves in the best of times. The long period of bloody combat that characterized so much of the 20th century has finally ended. Violent conflicts between states are minimal and conditions for almost everyone on the planet are on an upswing, with poverty on the decline and life expectancy and literacy increasing. Responsible government and industry leaders have begun to refrain from risky bets on exciting new exploits and the time of grand projects, such as the Eisenhower Interstate System, the Moon Landing Program or the development of the internet is behind us. Instead, we have to make do with incremental improvements of existing technology, catch-up programs in developing countries and social programs. The consequences are stalling wealth generation and an end to the dramatic changes society has undergone since the industrial revolution now more than 200 years ago.

Download or read book After the Great Recession written by Barry Z. Cynamon and published by Cambridge University Press. This book was released on 2013 with total page 359 pages. Available in PDF, EPUB and Kindle. Book excerpt: A collection of essays about the US Great Recession of 2007 to 2009 and the subsequent stagnation from prominent scholars.

Download or read book The Age of Sustainability written by Mark Swilling and published by Routledge. This book was released on 2019-11-06 with total page 331 pages. Available in PDF, EPUB and Kindle. Book excerpt: With transitions to more sustainable ways of living already underway, this book examines how we understand the underlying dynamics of the transitions that are unfolding. Without this understanding, we enter the future in a state of informed bewilderment. Every day we are bombarded by reports about ecosystem breakdown, social conflict, economic stagnation and a crisis of identity. There is mounting evidence that deeper transitions are underway that suggest we may be entering another period of great transformation equal in significance to the agricultural revolution some 13,000 years ago or the Industrial Revolution 250 years ago. This book helps readers make sense of our global crisis and the dynamics of transition that could result in a shift from the industrial epoch that we live in now to a more sustainable and equitable age. The global renewable energy transition that is already underway holds the key to the wider just transition. However, the evolutionary potential of the present also manifests in the mushrooming of ecocultures, new urban visions, sustainability-oriented developmental states and new ways of learning and researching. Shedding light on the highly complex challenge of a sustainable and just transition, this book is essential reading for anyone concerned with establishing a more sustainable and equitable world. Ultimately, this is a book about hope but without easy answers.

Download or read book Shut Out written by Kevin Erdmann and published by Rowman & Littlefield. This book was released on 2019-01-21 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.