Irrational Markets And The Illusion Of Prosperity

Author : Don DeVitto
Publisher : Routledge
Page : 198 pages
File Size : 52,9 Mb
Release : 2013-10-31
Category : Business & Economics
ISBN : 9781135949907

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Irrational Markets and the Illusion of Prosperity by Don DeVitto Pdf

Irrational exuberance - the now-famous utterance of Alan Greenspan, referred to the seemingly unending upward spiral of the stock market. Of course, as every investor knows, the stock market plummeted after this comment was made, only to recover and exceed every known record over the next year. Nothing, it appears, could keep this market down: not inflationary pressures, concerns over the Asian economic crisis, lack of earnings in many companies, nor elevated stock prices. Nothing, it seems, could stop investors in their passion for bidding up prices of stocks, especially technology and telecommunications. But beware: Irrational Markets warns that Americans are living in an economic dreamland, and that the long bull market and low unemployment levels have only masked a disturbing economic reality - in short, we're in for a rude awakening. Based on extensive research, this provocative book is sobering reading for any current or would be investor.

Author : Don DeVitto
Publisher : Routledge
Page : 206 pages
File Size : 49,7 Mb
Release : 2013-10-31
Category : Business & Economics
ISBN : 9781135949976

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Irrational Markets and the Illusion of Prosperity by Don DeVitto Pdf

Irrational exuberance - the now-famous utterance of Alan Greenspan, referred to the seemingly unending upward spiral of the stock market. Of course, as every investor knows, the stock market plummeted after this comment was made, only to recover and exceed every known record over the next year. Nothing, it appears, could keep this market down: not inflationary pressures, concerns over the Asian economic crisis, lack of earnings in many companies, nor elevated stock prices. Nothing, it seems, could stop investors in their passion for bidding up prices of stocks, especially technology and telecommunications. But beware: Irrational Markets warns that Americans are living in an economic dreamland, and that the long bull market and low unemployment levels have only masked a disturbing economic reality - in short, we're in for a rude awakening. Based on extensive research, this provocative book is sobering reading for any current or would be investor.

Author : E. Calvin Beisner
Publisher : Wipf and Stock Publishers
Page : 305 pages
File Size : 53,5 Mb
Release : 2001-11-19
Category : Religion
ISBN : 9781579108083

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Prosperity and Poverty by E. Calvin Beisner Pdf

We live in a world with millions in need, a nation torn by conflicting ideologies that offer failing remedies for economic ills. Yet the gospel calls Christians to feed the hungry and care for the poor. But how? Prosperity and Poverty offers clear teaching on Biblical principles of stewardship and economics, enabling us to make informed choices in these areas. The stakes are high. Our decisions mean the difference between starvation and plenty, between liberty and oppression, for tens of millions of people.

Author : Kwasi Kwarteng
Publisher : PublicAffairs
Page : 441 pages
File Size : 42,5 Mb
Release : 2014-05-27
Category : History
ISBN : 9781610391962

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War and Gold by Kwasi Kwarteng Pdf

The world was wild for gold. After discovering the Americas, and under pressure to defend their vast dominion, the Habsburgs of Spain promoted gold and silver exploration in the New World with ruthless urgency. But, the great influx of wealth brought home by plundering conquistadors couldn't compensate for the Spanish government's extraordinary military spending, which would eventually bankrupt the country multiple times over and lead to the demise of the great empire. Gold became synonymous with financial dependability, and following the devastating chaos of World War I, the gold standard came to express the order of the free market system. Warfare in pursuit of wealth required borrowing -- a quickly compulsive dependency for many governments. And when people lost confidence in the promissory notes and paper currencies issued during wartime, governments again turned to gold. In this captivating historical study, Kwarteng exposes a pattern of war-waging and financial debt -- bedmates like April and taxes that go back hundreds of years, from the French Revolution to the emergence of modern-day China. His evidence is as rich and colorful as it is sweeping. And it starts and ends with gold.

Author : Brendan Brown,Robert Pringle
Publisher : Springer Nature
Page : 284 pages
File Size : 49,6 Mb
Release : 2022-08-31
Category : Business & Economics
ISBN : 9783031060410

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A Guide to Good Money by Brendan Brown,Robert Pringle Pdf

Modern money, having now become a key tool of government economic policy and a source of massive tax revenues, has strayed far from its original purpose. This is doubly regrettable, as the better money functions at an individual level in satisfying demand for quality, the better it is for economic prosperity and freedom. This book presents how modern money works both in the domestic economy and globally, outlining the essence of what makes good money. How does modern money differ from this ideal? By focusing on the dichotomy between globalization on the one hand and modern money’s base in the nation state (or group of states) on the other hand, the book demonstrates how US dominance in determining monetary conditions globally has grown since the mid-1990s. The book then discusses the adverse consequences, many of which are camouflaged, of present money doctrines now so widely and radically applied, presenting novel research on how the US by pursuing bad monetary policies has been the catalyst to deepening geo-political danger. The book continues by setting out how the illusions of asset inflation will fade, most likely in the midst of economic and financial tumult. The forces which bring about that income emanate in part from the long-run costs of growing mal-investment and monopolization which occur under monetary inflation especially in the context of a digitalization revolution. Apologists for the present monetary regime rest much of their case on these illusions and on the contention that the bill for the costs comes only in the long run. This book dismantles that case. A Guide to Good Money provides readers with the sight of a pathway to a promised land of real prosperity founded on sound money beyond those lost illusions, and will be of interest to academics, students, practitioners, and central bankers.

Author : Arthur James Wells
Publisher : Unknown
Page : 1864 pages
File Size : 51,8 Mb
Release : 2001
Category : Bibliography, National
ISBN : UOM:39015079755792

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The British National Bibliography by Arthur James Wells Pdf

Author : Tim Jackson
Publisher : Taylor & Francis
Page : 310 pages
File Size : 41,9 Mb
Release : 2016-12-08
Category : Business & Economics
ISBN : 9781317388227

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Prosperity without Growth by Tim Jackson Pdf

What can prosperity possibly mean in a world of environmental and social limits? The publication of Prosperity without Growth was a landmark in the sustainability debate. Tim Jackson’s piercing challenge to conventional economics openly questioned the most highly prized goal of politicians and economists alike: the continued pursuit of exponential economic growth. Its findings provoked controversy, inspired debate and led to a new wave of research building on its arguments and conclusions. This substantially revised and re-written edition updates those arguments and considerably expands upon them. Jackson demonstrates that building a ‘post-growth’ economy is a precise, definable and meaningful task. Starting from clear first principles, he sets out the dimensions of that task: the nature of enterprise; the quality of our working lives; the structure of investment; and the role of the money supply. He shows how the economy of tomorrow may be transformed in ways that protect employment, facilitate social investment, reduce inequality and deliver both ecological and financial stability. Seven years after it was first published, Prosperity without Growth is no longer a radical narrative whispered by a marginal fringe, but an essential vision of social progress in a post-crisis world. Fulfilling that vision is simply the most urgent task of our times.

Author : George A. Akerlof,Robert J. Shiller
Publisher : Princeton University Press
Page : 261 pages
File Size : 46,5 Mb
Release : 2010-02-01
Category : Business & Economics
ISBN : 9781400834723

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Animal Spirits by George A. Akerlof,Robert J. Shiller Pdf

From acclaimed economists George Akerlof and Robert Shiller, the case for why government is needed to restore confidence in the economy The global financial crisis has made it painfully clear that powerful psychological forces are imperiling the wealth of nations today. From blind faith in ever-rising housing prices to plummeting confidence in capital markets, "animal spirits" are driving financial events worldwide. In this book, acclaimed economists George Akerlof and Robert Shiller challenge the economic wisdom that got us into this mess, and put forward a bold new vision that will transform economics and restore prosperity. Akerlof and Shiller reassert the necessity of an active government role in economic policymaking by recovering the idea of animal spirits, a term John Maynard Keynes used to describe the gloom and despondence that led to the Great Depression and the changing psychology that accompanied recovery. Like Keynes, Akerlof and Shiller know that managing these animal spirits requires the steady hand of government—simply allowing markets to work won't do it. In rebuilding the case for a more robust, behaviorally informed Keynesianism, they detail the most pervasive effects of animal spirits in contemporary economic life—such as confidence, fear, bad faith, corruption, a concern for fairness, and the stories we tell ourselves about our economic fortunes—and show how Reaganomics, Thatcherism, and the rational expectations revolution failed to account for them. Animal Spirits offers a road map for reversing the financial misfortunes besetting us today. Read it and learn how leaders can channel animal spirits—the powerful forces of human psychology that are afoot in the world economy today. In a new preface, they describe why our economic troubles may linger for some time—unless we are prepared to take further, decisive action.

Author : James Tobin
Publisher : MIT Press
Page : 530 pages
File Size : 43,5 Mb
Release : 1989
Category : Business & Economics
ISBN : 0262700360

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Policies for Prosperity by James Tobin Pdf

In these timely essays, Nobel prize�winning economist James Tobin shows how Keynesian economics offers corrective treatment for the economic ailments we have faced under the Ford, Carter, and Reagan administrations.Essays in the first part of the book focus on theory and policy in Keynesian economics, particularly on the modern anti-Keynesian movements of the 1970s and 1980s. Tobin's writings on the events, controversies, doctrines, and policies of the Reagan era make up the book's second section, Essays in part three continue to discuss the Reagan revolution, focusing on fiscal policies and presenting some general macroeconomic principles that can be invoked to remedy the situation; those in part four are concerned more specifically with the conduct of monetary policy. A fifth section addresses inflation stagflation, and unemployment, recommending income policies that Tobin believes must become a "permanent tool of macroeconomic policy." The book concludes with several essays on various aspects of political economy, including a timely reminder that economic policies should serve ethical values.James Tobin, who received the Nobel prize in economics in 1981, is Sterling Professor of Economics at Yale.

Author : ERS.
Publisher : Unknown
Page : 1148 pages
File Size : 52,8 Mb
Release : 2001
Category : Authorship
ISBN : UOM:39015046413681

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The Writer's Market by ERS. Pdf

Describes thousands of markets for writers, covering magazines, publishers, syndicates, and contests; with information on submission requirements, pay scale, and freelance work, and listings of editors and agents.

Author : Anonim
Publisher : Unknown
Page : 1132 pages
File Size : 42,6 Mb
Release : 2001
Category : Authorship
ISBN : 1582970491

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Writer's Market, 2002 by Anonim Pdf

Describes thousands of markets for writers, covering magazines, publishers, syndicates, and contests; with information on submission requirements, pay scale, and freelance work, and listings of editors and agents.

Author : Ron Paul
Publisher : Ludwig von Mises Institute
Page : 496 pages
File Size : 54,7 Mb
Release : 2008-03
Category : Social Science
ISBN : 9781933550244

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Pillars of Prosperity by Ron Paul Pdf

Author : Robert J. Shiller
Publisher : Princeton University Press
Page : 336 pages
File Size : 54,7 Mb
Release : 2005-03-14
Category : Business & Economics
ISBN : 0691123357

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Irrational Exuberance by Robert J. Shiller Pdf

This first edition of this book was a broad study, drawing on a wide range of published research and historical evidence, of the enormous stock market boom that started around 1982 and picked up incredible speed after 1995. Although it took as its specific starting point this ongoing boom, it placed it in the context of stock market booms generally, and it also made concrete suggestions regarding policy changes that should be initiated in response to this and other such booms. The book argued that the boom represents a speculative bubble, not grounded in sensible economic fundamentals. Part one of the book considered structural factors behind the boom. A list of twelve precipitating factors that appear to be its ultimate causes was given. Amplification mechanisms, naturally-occurring Ponzi processes, that enlarge the effects of these precipitating factors, were described. Part Two discussed cultural factors, the effects of the news media, and of "new era" economic thinking. Part Three discussed psychological factors, psychological anchors for the market and herd behavior. Part Four discussed attempts to rationalize exuberance: efficient markets theory and theories that investors are learning. Part Five presented policy options and actions that should be taken. The second edition, 2005, added an analysis of the real estate bubble as similar to the stock market bubble that preceded it, and warned that "Significant further rises in these markets could lead, eventually, to even more significant declines. The bad outcome could be that eventual declines would result in a substantial increase in the rate of personal bankruptcies, which could lead to a secondary string of bankruptcies of financial institutions as well. Another long-run consequence could be a decline in consumer and business confidence, and another, possibly worldwide, recession." Thus, the second edition of this book was among the first to warn of the global financial crisis that began with the subprime mortgage debacle in 2007.

Author : Anonim
Publisher : Unknown
Page : 3310 pages
File Size : 46,5 Mb
Release : 1997
Category : American literature
ISBN : UOM:39015054057792

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Subject Guide to Books in Print by Anonim Pdf

Author : Irving Fisher
Publisher : Simon and Schuster
Page : 109 pages
File Size : 55,9 Mb
Release : 2014-03-27
Category : Business & Economics
ISBN : 9781627939997

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The Money Illusion by Irving Fisher Pdf

In economics, money illusion refers to the tendency of people to think of currency in nominal, rather than real, terms. In other words, the numerical/face value (nominal value) of money is mistaken for its purchasing power (real value). This is false, as modern fiat currencies have no inherent value and their real value is derived from their ability to be exchanged for goods and used for payment of taxes. The term was coined by John Maynard Keynes in the early twentieth century. Almost every one is subject to the "Money Illusion" in respect to his own country's currency. This seems to him to be stationary while the money of other countries seems to change. It may seem strange but it is true that we see the rise or fall of foreign money better than we see that of our own.-IRVING FISHER