Download or read book The Intellectual Origins of the Global Financial Crisis written by Roger Berkowitz and published by Fordham Univ Press. This book was released on 2012-10-01 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Commentary on the financial crisis has offered technical analysis, political finger pointing, and myriad economic and political solutions. But rarely do these investigations reach beyond the economic and political causes of the crisis to explore their underlying intellectual grounds. The essays in this volume delve deeper into the cultural and intellectual foundations, philosophical ideas, political traditions, and economic movements that underlie the greatest financial crisis in nearly a century. Moving beyond traditional economic and political science approaches, these essays engage thinkers from Hannah Arendt to Max Weber and Adam Smith to Michel Foucault. With Arendt as a catalyst, the authors probe the philosophical as well as the cultural origins of the great recession. Orienting the volume is Arendt’s argument that past financial crises and also totalitarianism are rooted, at least in part, in the tendency for capital to expand its reach globally without regard to political and moral borders or limits. That politics is made subservient to economics names a cultural transformation that, in the spirit of Arendt, guides these essays in making sense of our present world. Including articles, interviews, and commentary from leading scholars and business executives, this volume offers views that are as diverse as they are timely. By reaching beyond “how” the crisis happened to “why” the crisis happened, the authors re-imagine the recent financial crisis and thus provide fresh thinking about how to respond.
Download or read book The Intellectual Origins of the Global Financial Crisis written by Roger Berkowitz and published by Fordham Univ Press. This book was released on 2012-09 with total page 233 pages. Available in PDF, EPUB and Kindle. Book excerpt: By reaching beyond "how" the crisis happened to "why" the crisis happened, the authors provide fresh thinking about how to respond
Download or read book The Origin of Financial Crises written by George Cooper and published by Vintage. This book was released on 2008-12-09 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a series of disarmingly simple arguments financial market analyst George Cooper challenges the core principles of today's economic orthodoxy and explains how we have created an economy that is inherently unstable and crisis prone. With great skill, he examines the very foundations of today's economic philosophy and adds a compelling analysis of the forces behind economic crisis. His goal is nothing less than preventing the seemingly endless procession of damaging boom-bust cycles, unsustainable economic bubbles, crippling credit crunches, and debilitating inflation. His direct, conscientious, and honest approach will captivate any reader and is an invaluable aid in understanding today's economy.
Download or read book Fragile by Design written by Charles W. Calomiris and published by Princeton University Press. This book was released on 2015-08-04 with total page 584 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why stable banking systems are so rare Why are banking systems unstable in so many countries—but not in others? The United States has had twelve systemic banking crises since 1840, while Canada has had none. The banking systems of Mexico and Brazil have not only been crisis prone but have provided miniscule amounts of credit to business enterprises and households. Analyzing the political and banking history of the United Kingdom, the United States, Canada, Mexico, and Brazil through several centuries, Fragile by Design demonstrates that chronic banking crises and scarce credit are not accidents. Calomiris and Haber combine political history and economics to examine how coalitions of politicians, bankers, and other interest groups form, why they endure, and how they generate policies that determine who gets to be a banker, who has access to credit, and who pays for bank bailouts and rescues. Fragile by Design is a revealing exploration of the ways that politics inevitably intrudes into bank regulation.
Download or read book Crashed written by Adam Tooze and published by Penguin. This book was released on 2018-08-07 with total page 720 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book The global financial crisis its distant origins written by Umberto Burani and published by . This book was released on 2009 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Global Minotaur written by Yanis Varoufakis and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book What Caused the Financial Crisis written by Jeffrey Friedman and published by University of Pennsylvania Press. This book was released on 2011-06-06 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: The deflation of the subprime mortgage bubble in 2006-7 is widely agreed to have been the immediate cause of the collapse of the financial sector in 2008. Consequently, one might think that uncovering the origins of subprime lending would make the root causes of the crisis obvious. That is essentially where public debate about the causes of the crisis began—and ended—in the month following the bankruptcy of Lehman Brothers and the 502-point fall in the Dow Jones Industrial Average in mid-September 2008. However, the subprime housing bubble is just one piece of the puzzle. Asset bubbles inflate and burst frequently, but severe worldwide recessions are rare. What was different this time? In What Caused the Financial Crisis leading economists and scholars delve into the major causes of the worst financial collapse since the Great Depression and, together, present a comprehensive picture of the factors that led to it. One essay examines the role of government regulation in expanding home ownership through mortgage subsidies for impoverished borrowers, encouraging the subprime housing bubble. Another explores how banks were able to securitize mortgages by manipulating criteria used for bond ratings. How this led to inaccurate risk assessments that could not be covered by sufficient capital reserves mandated under the Basel accords is made clear in a third essay. Other essays identify monetary policy in the United States and Europe, corporate pay structures, credit-default swaps, banks' leverage, and financial deregulation as possible causes of the crisis. With contributions from Richard A. Posner, Vernon L. Smith, Joseph E. Stiglitz, and John B. Taylor, among others, What Caused the Financial Crisis provides a cogent, comprehensive, and credible explanation of why the crisis happened. It will be an essential resource for scholars and students of finance, economics, history, law, political science, and sociology, as well as others interested in the financial crisis and the nature of modern capitalism and regulation.
Download or read book From Malaise to Meltdown written by Michael Lee and published by . This book was released on 2020 with total page 264 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 The Shifts and the Shocks written by Martin Wolf and published by Penguin UK. This book was released on 2014-09-04 with total page 528 pages. Available in PDF, EPUB and Kindle. Book excerpt: In The Shifts and the Shocks, Martin Wolf - one of the world's most influential economic commentators and author of Why Globalization Works - presents his controversial and highly original analysis of the economic course of the last seven years There have been many books that have sought to explain the causes and courses of the financial and economic crisis which began in 2007-8. The Shifts and the Shocks is not another detailed history of the crisis, but the most persuasive and complete account yet published of what the crisis should teach us us about modern economies and economics. The book identifies the origin of the crisis in the complex interaction between globalization, hugely destabilizing global imbalances and our dangerously fragile financial system. In the eurozone, these sources of instability were multiplied by the tragically defective architecture of the monetary union. It also shows how much of the orthodoxy that shaped monetary and financial policy before the crisis occurred was complacent and wrong. In doing so, it mercilessly reveals the failures of the financial, political and intellectual elites who ran the system. The book also examines what has been done to reform the financial and monetary systems since the worst of the crisis passed. 'Are we now on a sustainable course?' Wolf asks. 'The answer is no.' He explains with great clarity why 'further crises seem certain' and why the management of the eurozone in particular 'guarantees a huge political crisis at some point in the future.' Wolf provides far more ambitious and comprehensive plans for reform than any currently being implemented. Written with all the intellectual command and trenchant judgement that have made Martin Wolf one of the world's most influential economic commentators, The Shifts and the Shocks matches impressive analysis with no-holds-barred criticism and persuasive prescription for a more stable future. It is a book no-one with an interest in global affairs will want to neglect. MARTIN WOLF is Associate Editor and Chief Economics Commentator at the Financial Times, London. He is the recipient of many awards for financial journalism, for which he was also made a CBE in 2000. His previous books include Why Globalization Works and Fixing Global Finance. "We have been inundated with books about the 'financial' aspects of the crisis. There have also been many books about specific institutions or memoirs by retired policy-makers. We need something different. There are two dimensions of the crisis that have received surprisingly little treatment. One is the link between developments in the macro-economy and the behaviour of the financial sector. The other is the global dimension of the crisis. Both these lie at the heart of Martin Wolf's analysis of the causes of the crisis and of his proposals to reduce the risk of another crisis. For these two reasons this is an important book that will be influential. Most important of all, it is in my view the right analysis and remedy" Mervyn King "To think straight about the causes and solutions of the financial crisis we must reject orthodox assumptions that more finance and global financial integration are limitlessly beneficial. The Shifts and the Shocks does just that, providing an intellectually sparkling and vital account of why the crisis occurred, and of the radical reforms needed if we are to avoid a future repeat" Adair Turner "Martin Wolf is unsurpassed in the world of economic journalists. His superb book may be the best of all those spawned by the Great Recession. It is analytical and rigorous without ever succumbing to fatalism or complacency" Lawrence Summers
Download or read book Out of Crisis written by David A. Westbrook and published by Routledge. This book was released on 2015-12-03 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: Former Federal Reserve chair Greenspan recently said that the risk management paradigm is broken; thus our understanding of financial regulation no longer makes sense. More generally, the current financial crisis obliges us to rethink the relationships among "financial markets" and "governments." In Out of Crisis financial analyst David Westbrook illuminates the intellectual, business, and policy errors that have led us into the present morass. Through a vivid legal and political analysis he shows how the ideologies of the right and left have distorted financial thinking and policy. Learning from these errors, the book sketches the emergence of a new understanding of risk management and bureaucratic regulation. Out of Crisis begins the tasks of rethinking the structures that constitute financial markets and exploring how such structures may be strengthened. Taking responsibility for the markets we build to do so much of our society's work, we may yet become mature capitalists.
Download or read book Manias Panics and Crashes written by Robert Z. Aliber and published by Springer. This book was released on 2017-12-07 with total page 435 pages. Available in PDF, EPUB and Kindle. Book excerpt: This seventh edition of an investment classic has been thoroughly revised and expanded following the latest crises to hit international markets. Renowned economist Robert Z. Aliber introduces the concept that global financial crises in recent years are not independent events, but symptomatic of an inherent instability in the international system.
Download or read book New Perspectives on the History of Political Economy written by Robert Fredona and published by Springer. This book was released on 2018-03-05 with total page 438 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume offers a snapshot of the resurgent historiography of political economy in the wake of the ongoing global financial crisis, and suggests fruitful new agendas for research on the political-economic nexus as it has developed in the Western world since the end of the Middle Ages. New Perspectives on the History of Political Economy brings together a select group of young and established scholars from a wide variety of disciplinary backgrounds—history, economics, law, and political science—in an effort to begin a re-conceptualization of the origins and history of political economy through a variety of still largely distinct but complementary historical approaches—legal and intellectual, literary and philosophical, political and economic—and from a variety of related perspectives: debt and state finance, tariffs and tax policy, the encouragement and discouragement of trade, merchant communities and companies, smuggling and illicit trades, mercantile and colonial systems, economic cultures, and the history of economic doctrines more narrowly construed. The first decade of the twenty-first century, bookended by 9/11 and a global financial crisis, witnessed the clamorous and urgent return of both 'the political' and 'the economic' to historiographical debates. It is becoming more important than ever to rethink the historical role of politics (and, indeed, of government) in business, economic production, distribution, and exchange. The artefacts of pre-modern and modern political economy, from the fourteenth through the twentieth centuries, remain monuments of perennial importance for understanding how human beings grappled with and overcame material hardship, organized their political and economic communities, won great wealth and lost it, conquered and were conquered. The present volume, assembling some of the brightest lights in the field, eloquently testifies to the rich and powerful lessons to be had from such a historical understanding of political economy and of power in an economic age.
Download or read book Transatlantic Speculations written by Hannah Catherine Davies and published by Columbia University Press. This book was released on 2018-11-20 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: The year 1873 was one of financial crisis. A boom in railway construction had spurred a bull market—but when the boom turned to bust, transatlantic panic quickly became a worldwide economic downturn. In Transatlantic Speculations, Hannah Catherine Davies offers a new lens on the panics of 1873 and nineteenth-century globalization by exploring the ways in which contemporaries experienced a tumultuous period that profoundly challenged notions of economic and moral order. Considering the financial crises of 1873 from the vantage points of Berlin, New York, and Vienna, Davies maps what she calls the dual “transatlantic speculations” of the 1870s: the financial speculation that led to these panics as well as the interpretative speculations that sprouted in their wake. Drawing on a wide variety of sources—including investment manuals, credit reports, business correspondence, newspapers, and legal treatises—she analyzes how investors were prompted to put their money into faraway enterprises, how journalists and bankers created and spread financial information and disinformation, how her subjects made and experienced financial flows, and how responses ranged from policy reform to anti-Semitic conspiracy theories when these flows suddenly were interrupted. Davies goes beyond national frames of analysis to explore international economic entanglement, using the panics’ interconnectedness to shed light on contemporary notions of the world economy. Blending cultural, intellectual, and legal history, Transatlantic Speculations gives vital transnational and comparative perspective on a crucial moment for financial markets, globalization, and capitalism.
Download or read book After the Crash written by Sharyn O'Halloran and published by Columbia University Press. This book was released on 2019-10-08 with total page 454 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2008 crash was the worst financial crisis and the most severe economic downturn since the Great Depression. It triggered a complete overhaul of the global regulatory environment, ushering in a stream of new rules and laws to combat the perceived weakness of the financial system. While the global economy came back from the brink, the continuing effects of the crisis include increasing economic inequality and political polarization. After the Crash is an innovative analysis of the crisis and its ongoing influence on the global regulatory, financial, and political landscape, with timely discussions of the key issues for our economic future. It brings together a range of experts and practitioners, including Joseph Stiglitz, a Nobel Prize winner; former congressman Barney Frank; former treasury secretary Jacob Lew; Paul Tucker, a former deputy governor of the Bank of England; and Steve Cutler, general counsel of JP Morgan Chase during the financial crisis. Each poses crucial questions: What were the origins of the crisis? How effective were international and domestic regulatory responses? Have we addressed the roots of the crisis through reform and regulation? Are our financial systems and the global economy better able to withstand another crash? After the Crash is vital reading as both a retrospective on the last crisis and an analysis of possible sources of the next one.
Download or read book Economics of Good and Evil written by Tomas Sedlacek and published by Oxford University Press. This book was released on 2011-07-01 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tomas Sedlacek has shaken the study of economics as few ever have. Named one of the "Young Guns" and one of the "five hot minds in economics" by the Yale Economic Review, he serves on the National Economic Council in Prague, where his provocative writing has achieved bestseller status. How has he done it? By arguing a simple, almost heretical proposition: economics is ultimately about good and evil. In The Economics of Good and Evil, Sedlacek radically rethinks his field, challenging our assumptions about the world. Economics is touted as a science, a value-free mathematical inquiry, he writes, but it's actually a cultural phenomenon, a product of our civilization. It began within philosophy--Adam Smith himself not only wrote The Wealth of Nations, but also The Theory of Moral Sentiments--and economics, as Sedlacek shows, is woven out of history, myth, religion, and ethics. "Even the most sophisticated mathematical model," Sedlacek writes, "is, de facto, a story, a parable, our effort to (rationally) grasp the world around us." Economics not only describes the world, but establishes normative standards, identifying ideal conditions. Science, he claims, is a system of beliefs to which we are committed. To grasp the beliefs underlying economics, he breaks out of the field's confines with a tour de force exploration of economic thinking, broadly defined, over the millennia. He ranges from the epic of Gilgamesh and the Old Testament to the emergence of Christianity, from Descartes and Adam Smith to the consumerism in Fight Club. Throughout, he asks searching meta-economic questions: What is the meaning and the point of economics? Can we do ethically all that we can do technically? Does it pay to be good? Placing the wisdom of philosophers and poets over strict mathematical models of human behavior, Sedlacek's groundbreaking work promises to change the way we calculate economic value.
Download or read book It s the Political Economy Stupid written by Gregory Sholette and published by Pluto Press. This book was released on 2013-02-19 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: It's the Political Economy, Stupid brings together internationally acclaimed artists and thinkers, including Slavoj Žižek, David Graeber, Judith Butler and Brian Holmes, to focus on the current economic crisis in a sustained and critical manner. Following a unique format, images and text are integrated in a visually stunning bespoke production by activist designer Noel Douglas. What emerges is a powerful critique of the current capitalist crisis through an analytical and theoretical response and an aesthetic-cultural rejoinder. By combining artistic responses with the analysis of leading radical theorists, the book expands the boundaries of critique beyond the usual discourse. It's the Political Economy, Stupid argues that it is time to push back against the dictates of the capitalist logic and, by use of both theoretical and artistic means, launch a rescue of the very notion of the social.
