The Making of the Next Global Crisis In 1971, President Nixon imposed national price controls and took the United States off the gold standard, an extreme measure intended to end an ongoing currency war that had destroyed faith in the U.S. dollar. Today we are engaged in a new currency war, and this time the consequences will be far worse than those that confronted Nixon. Currency wars are one of the most destructive and feared outcomes in international economics. At best, they offer the sorry spectacle of countries' stealing growth from their trading partners. At worst, they degenerate into sequential bouts of inflation, recession, retaliation, and sometimes actual violence. Left unchecked, the next currency war could lead to a crisis worse than the panic of 2008. Currency wars have happened before-twice in the last century alone-and they always end badly. Time and again, paper currenci
Rothbard opens with a theoretical treatment of business cycle theory, showing how an expansive monetary policy generates imbalances between investment and consumption. He proceeds to examine the Fed's policies of the 1920s, demonstrating that it was quite inflationary even if the effects did not show up in the price of goods and services. He showed that the stock market correction was merely one symptom of the investment boom that led inevitably to a bust. The Great Depression was not a crisis for capitalism but merely an example of the downturn part of the business cycle, which in turn was generated by government intervention in the economy. Had the book appeared in the 1940s, it might have spared the world much grief. Even so, its appearance in 1963 meant that free-market advocates had their first full-scale treatment of this crucial subject. The damage to the intellectual world inflic
A Crash Course in the Future of Finance One man saw it coming. As far back as 2005, Professor Nouriel Roubini - aka 'Dr Doom' - warned that the US housing bubble was set to crash, and what would begin as a national disease would soon spread overseas resulting in a deep recession. Free market fundamentalism would fail and we'd be faced with the worst economic crisis in history, crippling our global economy and bringing the world's financial systems to a shuddering halt. Sound familiar? By guiding us through a crash course in 'crisis economics' - black swans and white swans, pressure points in the global economy, crises that extend beyond national borders and bubbles in the financial sector that spill over into the real economy - Roubini shows us that boom to bust economics does not have to be destiny. Roubini offers a course for the future: radical reform of the international financial or
A Financial History of the World Hardcover book. Published by Penguin Books, Limited (2008). Forlag: Allen Lane Udgivelsesår: 2008 Sider: 441 Sprog: Engelsk
Confidence, Crashes and Self-Fulfilling Prophecies "Of all the economic bubbles that have been pricked," the editors of The Economist recently observed, "few have burst more spectacularly than the reputation of economics itself." Indeed, the financial crisis that crested in 2008 destroyed the credibility of the economic thinking that had guided policymakers for a generation. But what will take its place? In How the Economy Works, one of our leading economists provides a jargon-free exploration of the current crisis, offering a powerful argument for how economics must change to get us out of it. Roger E. A. Farmer traces the swings between classical and Keynesian economics since the early twentieth century, gracefully explaining the elements of both theories. During the Great Depression, Keynes challenged the longstanding idea that an economy was a self-correcting mechanism; but his schoo
Inside the Doomsday Machine Forlag: Penguin Books Ltd. Udgivelsesår: 2015 Sider: 270 Sprog: Engelsk
Inside the Battle to Save Wall Street They were masters of the financial universe, flying in private jets and raking in billions. They thought they were too big to fail. This book gives an account of the most powerful men and women at the eye of the financial storm - from Lehman Brothers CEO Dick the gorilla Fuld, to AIG's Joseph Cassano, dubbed 'The Man Who Crashed the World'. Forlag: Penguin Sider: 990 Sprog: Engelsk
Den tidligere formand for Den Amerikanske Centralbank 1987-2006, Alan Greenspan (f. 1926), beretter dels om sit liv i den amerikanske økonomiske poltik dels om den globale økonomi og de begivenheder der driver den og forklarer de globale tendenser for fremtiden Titel: I en turbulent tid : muligheder i en ny verdensorden Udgave: 1. udgave Genre: Historisk Sammendrag: Denne bog er til dels en detektivroman. Efter 11. september viste det sig med ønskelig tydelighed, at vi lever i en ny verden – en verden med en global kapitalistisk økonomi, som er langt mere fleksibel, modstandsdygtig, åben og selvjusterende, end den var blot et kvart århundrede tidligere. Det er en verden, der giver os utænkelige nye muligheder, men også umådelige nye udfordringer. Type: Hardcover
