Rethinking Money Debt And Finance After The Crisis

Author : Melinda Cooper,Martijn Konings
Publisher : Unknown
Page : 0 pages
File Size : 49,8 Mb
Release : 2015
Category : Business & Economics
ISBN : 0822368307

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Rethinking Money, Debt, and Finance After the Crisis by Melinda Cooper,Martijn Konings Pdf

The financial crisis of 2007-8 has been widely understood as a result of the financial system's exceeding its proper place in society; the system became unbalanced, unsustainable, and deprived of a solid foundation. Even as capitalist finance seeks to reinvent itself in the wake of massive upheaval, critics continue to portray the financial system as fundamentally irrational--an unstable, destructive inventor of fictitious money. Characterizing finance in this way, however, neglects the growing connection between the worlds of high finance and consumer credit. The essays in this special issue take the financial crisis as an opportunity for much-needed conceptual innovation. Its contributors move beyond strictly moralistic criticisms of financialization to rethink core economic categories such as money, speculation, measure, value, and the wage, as well as the relationship among labor, finance, and money. Melinda Cooper is an Australian Research Council Future Fellow in the Department of Sociology and Social Policy at the University of Sydney. She is the author of Clinical Labor: Tissue Donors and Research Subjects in the Global Bioeconomy, also published by Duke University Press. Martijn Konings is Senior Lecturer and Australian Research Council DECRA Fellow in the Department of Political Economy at the University of Sydney. He is the author of The Development of American Finance. Contributors: Lisa Adkins, Fiona Allon, Dick Bryan, Melinda Cooper, Marieke de Goede, Chris Jefferis, Martijn Konings, Randy Martin, Michael Rafferty

Author : Brett Christophers,Andrew Leyshon,Geoff Mann
Publisher : John Wiley & Sons
Page : 274 pages
File Size : 43,5 Mb
Release : 2017-09-05
Category : Science
ISBN : 9781119051435

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Money and Finance After the Crisis by Brett Christophers,Andrew Leyshon,Geoff Mann Pdf

Money and Finance After the Crisis provides a critical multi-disciplinary perspective on the post-crisis financial world in all its complexity, dynamism and unpredictability. Contributions illuminate the diversity of ways in which money and finance continue to shape global political economy and society. A multidisciplinary collection of essays that study the geographies of money and finance that have unfolded in the wake of the financial crisis Contributions discuss a wide range of contemporary social formations, including the complexities of modern debt-driven financial markets Chapters critically explore proliferating forms and spaces of financial power, from the realms of orthodox finance capital to biodiversity conservation Contributions demonstrate the centrality of money and finance to contemporary capitalism and its political and cultural economies

Author : Alan S. Blinder,Andrew W. Loh,Robert M. Solow
Publisher : Russell Sage Foundation
Page : 375 pages
File Size : 48,8 Mb
Release : 2013-01-03
Category : Business & Economics
ISBN : 9781610448154

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Rethinking the Financial Crisis by Alan S. Blinder,Andrew W. Loh,Robert M. Solow Pdf

Some economic events are so major and unsettling that they “change everything.” Such is the case with the financial crisis that started in the summer of 2007 and is still a drag on the world economy. Yet enough time has now elapsed for economists to consider questions that run deeper than the usual focus on the immediate causes and consequences of the crisis. How have these stunning events changed our thinking about the role of the financial system in the economy, about the costs and benefits of financial innovation, about the efficiency of financial markets, and about the role the government should play in regulating finance? In Rethinking the Financial Crisis, some of the nation’s most renowned economists share their assessments of particular aspects of the crisis and reconsider the way we think about the financial system and its role in the economy. In its wide-ranging inquiry into the financial crash, Rethinking the Financial Crisis marshals an impressive collection of rigorous and yet empirically-relevant research that, in some respects, upsets the conventional wisdom about the crisis and also opens up new areas for exploration. Two separate chapters–by Burton G. Malkiel and by Hersh Shefrin and Meir Statman – debate whether the facts of the financial crisis upend the efficient market hypothesis and require a more behavioral account of financial market performance. To build a better bridge between the study of finance and the “real” economy of production and employment, Simon Gilchrist and Egan Zakrasjek take an innovative measure of financial stress and embed it in a model of the U.S. economy to assess how disruptions in financial markets affect economic activity—and how the Federal Reserve might do monetary policy better. The volume also examines the crucial role of financial innovation in the evolution of the pre-crash financial system. Thomas Philippon documents the huge increase in the size of the financial services industry relative to real GDP, and also the increasing cost per financial transaction. He suggests that the finance industry of 1900 was just as able to produce loans, bonds, and stocks as its modern counterpart—and it did so more cheaply. Robert Jarrow looks in detail at some of the major types of exotic securities developed by financial engineers, such as collateralized debt obligations and credit-default swaps, reaching judgments on which make the real economy more efficient and which do not. The volume’s final section turns explicitly to regulatory matters. Robert Litan discusses the political economy of financial regulation before and after the crisis. He reviews the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, which he considers an imperfect but useful response to a major breakdown in market and regulatory discipline. At a time when the financial sector continues to be a source of considerable controversy, Rethinking the Financial Crisis addresses important questions about the complex workings of American finance and shows how the study of economics needs to change to deepen our understanding of the indispensable but risky role that the financial system plays in modern economies.

Author : Morgan Ricks
Publisher : University of Chicago Press
Page : 360 pages
File Size : 42,6 Mb
Release : 2016-03-09
Category : Business & Economics
ISBN : 9780226330464

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The Money Problem by Morgan Ricks Pdf

An “intriguing plan” addressing shadow banking, regulation, and the continuing quest for financial stability (Financial Times). Years have passed since the world experienced one of the worst financial crises in history, and while countless experts have analyzed it, many central questions remain unanswered. Should money creation be considered a “public” or “private” activity—or both? What do we mean by, and want from, financial stability? What role should regulation play? How would we design our monetary institutions if we could start from scratch? In The Money Problem, Morgan Ricks addresses these questions and more, offering a practical yet elegant blueprint for a modernized system of money and banking—one that, crucially, can be accomplished through incremental changes to the United States’ current system. He brings a critical, missing dimension to the ongoing debates over financial stability policy, arguing that the issue is primarily one of monetary system design. The Money Problem offers a way to mitigate the risk of catastrophic panic in the future, and it will expand the financial reform conversation in the United States and abroad. “Highly recommended.” —Choice

Author : Bernard Lietaer,Jacqui Dunne
Publisher : Berrett-Koehler Publishers
Page : 284 pages
File Size : 55,5 Mb
Release : 2013-02-04
Category : Business & Economics
ISBN : 9781609942960

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Rethinking Money by Bernard Lietaer,Jacqui Dunne Pdf

Many of the world's economic ills - short-termism, compulsory growth pressure, cyclical recessions, unrelenting concentration of wealth, and erosion of social capital can be traced to our competitive money system, in which there is built-in economic scarcity and never enough money for people to pay off their debts. We need an economic system that is both cooperative and competitive, with each balancing and complimenting the other. Lietaer and Dunne tell how such a balanced system can be created and, in fact, how it is already being built in many places around the world. Individual citizens, entrepreneurs, businesses, communities, and governments are creating new cooperative money systems that link unused resources with unmet needs. Over the past 30 years there has been a tremendous growth of cooperative currencies from fewer than 100 in 1980 to over 4,000 today. But we need many more of them spread more consistently all over the globe. We also need more large-scale cooperative currencies. The emergent cooperative currency movement needs to grow up. Dodging the dogma of both left or right Rethinking Money provides the roadmap for this to happen.

Author : Jaequi Dunne,Bernard Lietaer
Publisher : ReadHowYouWant
Page : 446 pages
File Size : 42,6 Mb
Release : 2013-02
Category : Business & Economics
ISBN : 1459657993

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Rethinking Money by Jaequi Dunne,Bernard Lietaer Pdf

Many of the world's economic ills are due to our competitive money system - in which there is built - in economic scarcity and never enough money for people to pay off their debts, due to the debt - based way money is created. Bernard Lietaer - one of the world's most knowledgeable experts about our money system - and journalist Jacqui Dunne team up to describe how individual citizens, entrepreneurs, businesses, communities, and governments are creating new cooperative money systems around the world that provide a way out of our economic morass.

Author : Swapnil Pawar
Publisher : Leadstart Publishing Pvt Ltd
Page : 192 pages
File Size : 55,9 Mb
Release : 2024-06-03
Category : Business & Economics
ISBN : 9789355591296

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Rethinking Money and Capital: New Economics for QE, Stimulus, Negative Interest, and Cryptocurrencies by Swapnil Pawar Pdf

While money and capital occupy a centre stage in our daily lives, we rarely pause to think about their real nature. Contrary to an intuitive and unstated belief of most people, money and capital are not resources but simply bidding tokens. This rethinking of their nature can free the collective energies of human race from several artificially imposed constraints that hold no water upon closer scrutiny. The analysis in this book leads to many counterintuitive conclusions. For example, the fiscal deficit is the counterpart of the demand for net savings by individuals and not an evil to be battled. Inflation is sometimes an indicator of more egalitarian distribution of incomes and not always a scourge that hurts the poor. There is a strong case for negative real interest rates on risk-free debt. The book employs these and several other such inferences into a broad program for reinvigorating our economic policy towards a better life for all.

Author : William Bonner,Addison Wiggin
Publisher : John Wiley & Sons
Page : 417 pages
File Size : 53,7 Mb
Release : 2011-01-06
Category : Business & Economics
ISBN : 9781118040546

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Empire of Debt by William Bonner,Addison Wiggin Pdf

In Empire of Debt, maverick financial writers Bill Bonner and Addison Wiggin provide you with the first in-depth look at how the American character has shifted to accommodate its new imperial role; how we have abandoned the private virtues of personal liberty, economic freedom, and fiscal restraint; and how the government has gained control of public life and the economy.

Author : David A. Westbrook
Publisher : Routledge
Page : 180 pages
File Size : 40,8 Mb
Release : 2010
Category : Capital market
ISBN : UOM:39076002846157

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Out of Crisis by David A. Westbrook Pdf

Analyses the intellectual and policy errors that have led us into crisis and sketches a new paradigm for risk management and market structure.

Author : Carlo Cottarelli,Philip Gerson,Abdelhak Senhadji,A. Senhadji Semlali
Publisher : MIT Press
Page : 575 pages
File Size : 42,6 Mb
Release : 2014-06-27
Category : Business & Economics
ISBN : 9780262027182

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Post-crisis Fiscal Policy by Carlo Cottarelli,Philip Gerson,Abdelhak Senhadji,A. Senhadji Semlali Pdf

Research and analysis underpinning the IMF's position on the evolving role of fiscal policy in both advanced and emerging economics. Fiscal policy makers have faced an extraordinarily challenging environment over the last few years. At the outset of the global financial crisis, the International Monetary Fund (IMF) for the first time advocated a fiscal expansion across all countries able to afford it, a seeming departure from the long-held consensus among economists that monetary policy rather than fiscal policy was the appropriate response to fluctuations in economic activity. Since then, the IMF has emphasized that the speed of fiscal adjustment should be determined by the specific circumstances in each country. Its recommendation that deficit reduction proceed steadily, but gradually, positions the IMF between the fiscal doves (who argue for postponing fiscal adjustment altogether) and the fiscal hawks (who argue for a front-loaded adjustment). This volume brings together the analysis underpinning the IMF's position on the evolving role of fiscal policy. After establishing its analytical foundation, with chapters on such topics as fiscal risk and debt dynamics, the book analyzes the buildup of fiscal vulnerabilities before the crisis, presents the policy response during the crisis, discusses the fiscal outlook and policy challenges ahead, and offers lessons learned from the crisis and its aftermath. Topics discussed include a historical view of debt accumulation; the timing, size, and composition of fiscal stimulus packages in advanced and emerging economies; the heated debate surrounding the size of fiscal multipliers and the effectiveness of fiscal policy as a countercyclical tool; coordination of fiscal and monetary policies; the sovereign debt crisis in Europe; and institutional reform aimed at fostering fiscal discipline. Contributors Ali Abbas, Nate Arnold, Aqib Aslam, Thomas Baunsgaard, Nazim Belhocine, Dora Benedek, Carlo Cottarelli, Petra Dacheva, Mark De Broeck, Xavier Debrun, Asmaa ElGanainy, Julio Escolano, Lorenzo Forni, Philip Gerson, Borja Gracia,, Martine Guerguil, Alejandro Guerson, Laura Jaramillo, Jiri Jonas, Mika Kortelainen, Manmohan Kumar, Suchitra, Kumarapathy, Douglas Laxton, Pablo Lopez-Murphy, Thornton Matheson, Jimmy McHugh, Uffe Mikkelsen, Kyung-Seol Min, Aiko Mineshima, Marialuz Moreno, John Norregaard, Ceyla Pazarbasioglu, Iva Petrova, Tigran Poghosyan, Marcos Poplawski-Ribeiro, Anna Shabunina, Andrea Schaechter, Jack Selody, Abdelhak Senhadji, Baoping Shang, Mauricio Soto, Bruno Versailles, Anke Weber, Jaejoon Woo, Li Zeng

Author : Menzie D. Chinn,Jeffry A. Frieden
Publisher : W. W. Norton & Company
Page : 304 pages
File Size : 53,5 Mb
Release : 2011-09-19
Category : Business & Economics
ISBN : 9780393080506

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Lost Decades: The Making of America's Debt Crisis and the Long Recovery by Menzie D. Chinn,Jeffry A. Frieden Pdf

A clear, authoritative guide to the crisis of 2008, its continuing repercussions, and the needed reforms ahead. The U.S. economy lost the first decade of the twenty-first century to an ill-conceived boom and subsequent bust. It is in danger of losing another decade to the stagnation of an incomplete recovery. How did this happen? Read this lucid explanation of the origins and long-term effects of the recent financial crisis, drawn in historical and comparative perspective by two leading political economists. By 2008 the United States had become the biggest international borrower in world history, with more than two-thirds of its $6 trillion federal debt in foreign hands. The proportion of foreign loans to the size of the economy put the United States in league with Mexico, Indonesia, and other third-world debtor nations. The massive inflow of foreign funds financed the booms in housing prices and consumer spending that fueled the economy until the collapse of late 2008. This was the most serious international economic crisis since the Great Depression of the 1930s. Menzie Chinn and Jeffry Frieden explain the political and economic roots of this crisis as well as its long-term effects. They explore the political strategies behind the Bush administration’s policy of funding massive deficits with foreign borrowing. They show that the crisis was foreseen by many and was avoidable through appropriate policy measures. They examine the continuing impact of our huge debt on the continuing slow recovery from the recession. Lost Decades will long be regarded as the standard account of the crisis and its aftermath.

Author : Ira Lieberman
Publisher : Brookings Institution Press
Page : 554 pages
File Size : 44,9 Mb
Release : 2018-10-09
Category : Business & Economics
ISBN : 9780815735465

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In Good Times Prepare for Crisis by Ira Lieberman Pdf

Sovereign debt crises are a little like the weather: One can get ready to endure them and maybe take some steps to lessen their impact, but so far it hasn't been possible to prevent them. Like the weather, they just keep happening. That's the overriding thesis of this book tracing the major debt crises of the past century, starting with the Great Depression and running through the recent Great Recession. Written by a former World Bank expert on debt crises, this book discusses best practices for how such crises can be resolved. As the painful experience of the past decade reminded everyone, frequent debt crises and defaults do great damage to economies and cause vast personal hardship. But resolving them has proven difficult—both economically and politically—and has taken time, almost always requiring a lender of last resort such as a country's central bank or the International Monetary Fund. Too often, efforts to end debt crises have been little more than a palliative, and the debt overhang from one crisis contributes to the next, as illustrated by the ongoing saga in Greece. Both private and sovereign debts have increased substantially since the 2008 crisis, with inadequate deleveraging. This debt overhang leaves countries vulnerable and with limited maneuverability to address the next crisis. This book does not pretend to describe how debt crises can be prevented. But it does draw useful lessons from recent crises that can help economists, bankers, policymakers, and others resolve the inevitable future crises with the least possible damage.

Author : A. Pettifor
Publisher : Springer
Page : 190 pages
File Size : 55,8 Mb
Release : 2006-10-02
Category : Political Science
ISBN : 9780230236752

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The Coming First World Debt Crisis by A. Pettifor Pdf

In this book, Ann Pettifor examines the issues of debt affecting the 'first world' or OECD countries, looking at the history, politics and ethics of the coming debt crisis and exploring the implications of high international indebtedness for governments, corporations, households, individuals and the ecosystem.

Author : Anonim
Publisher : Unknown
Page : 256 pages
File Size : 47,6 Mb
Release : 2010
Category : Finance
ISBN : 1616689250

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After the Crisis by Anonim Pdf

Author : Anonim
Publisher : Profile Books
Page : 90 pages
File Size : 54,9 Mb
Release : 2014-04-10
Category : Business & Economics
ISBN : 9781782831228

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Debts, Deficits and Dilemmas by Anonim Pdf

This short guide brings together five crucial Economist briefs on aspects of the financial crisis and its consequences into a single, easily-digestible volume. With an introduction by the Economist's Editor-in-Chief, Zanny Minton Beddoes, this is an essential read for anyone interested in the financial crisis and its global repercussions. A free companion work-ebook for teachers and students is available, to extend the discussions raised by the book's varied topics, which include: Zanny Minton Beddoes' Introduction. Minton Beddoes explains the significance of the financial crisis for the current state of the global economy and its prospects. The origins of the financial crisis. The effects of the financial crisis are still being felt five years on. What were its causes? The dangers of debt. The role debt and deleveraging have played in the turmoil. Monetary policy after the crash. The unconventional methods central bankers have adopted to stimulate growth in the wake of the crisis. Stimulus v. austerity. The surge in public debt and the debate about how quickly governments should cut back. Making banks safe. The best way to make banks safer without killing lending.