The Future Of Capitalism After The Financial Crisis

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The Future of Capitalism After the Financial Crisis

Richard Westra,Dennis Badeen,Robert Albritton
The Future of Capitalism After the Financial Crisis Book PDF

Author : Richard Westra,Dennis Badeen,Robert Albritton
Publisher : Routledge
Page : 283 pages
File Size : 48,9 Mb
Release : 2014-12-17
Category : Business & Economics
ISBN : 9781317935537

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The Future of Capitalism After the Financial Crisis by Richard Westra,Dennis Badeen,Robert Albritton Pdf

The Future of Capitalism After the Financial Crisis: The Varieties of Capitalism Debate in the Age of Austerity contains thirteen world leading political economists writing from within eight different countries who critically analyze the current crisis tendencies of capitalism both globally and in particular countries. Given the likelihood of an increasingly crisis prone future for capitalism, it is important not only to rethink capitalism in its current manifestations or varieties. It is also important to rethink research methods and conceptual frameworks in preparation for understanding an increasingly rocky future in which capitalism itself could go the way of the many species that in the past were endangered only to become extinct. More and more titles of books and articles are suggesting that capitalism or perhaps civilization itself is endangered if we do not make radical changes in the near future. This book breaks with academic path dependency and attempts to open new vistas of political economy and of multidisciplinary analysis that are crucially important if our thought processes are to be effective in a world in jeopardy. The varieties of capitalism (VoC) debate itself came into being as the Soviet Union unraveled. It drew in scholarship from a cross-section of Marxian and heterodox political economy. The key argument of VoC was that if capitalism was the only global option then those on the Left must get involved in policy discussions on how capitalist economies can be fashioned to become competitive as well as progressive. However, the financial crisis has seen policy across the advanced economies veer toward competitiveness coupled with austerity. The lesson for the Left is that alternatives to capitalism must be sought in the here and now.

Crises of Global Economies and the Future of Capitalism

Kiichirō Yagi,Nobuharu Yokokawa,Shinjirō Hagiwara,Gary Dymski
Crises of Global Economies and the Future of Capitalism Book PDF

Author : Kiichirō Yagi,Nobuharu Yokokawa,Shinjirō Hagiwara,Gary Dymski
Publisher : Routledge
Page : 354 pages
File Size : 54,8 Mb
Release : 2013
Category : Business & Economics
ISBN : 9780415687331

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Crises of Global Economies and the Future of Capitalism by Kiichirō Yagi,Nobuharu Yokokawa,Shinjirō Hagiwara,Gary Dymski Pdf

Recent events in the global financial markets and macro economies have served as a strong reminder for a need of a coherent theory of capitalist crisis and analysis. This book helps to fill the gap with well-grounded alternative articulations of the forces which move today's economic dynamics, how they interact and how ideas of foundational figures in economic theory can be used to make sense of the current predicament. The book presents a comprehensive collection of reflections on the origins, dynamics and implications of the interlinked crises of the U.S. and global economies. The book is a thoughtful collaboration between Japanese heterodox economists of the Japan Society of Political Economy (JSPE) and non-Japanese scholars. It provides a unique immersion in different, sophisticated approaches to political economy and to the crisis. The book illustrates with the understanding of Marx's crisis theory and how it can serve as a powerful framework for analyzing the contemporary sub-prime world crisis. The book explains the subprime loan crisis as a crisis in a specific phase of the capitalist world system and concludes that it is a structural one which destroys the existing capital accumulation regime. It pays attention to structural changes and to how these changes beget profound and controversial consequences. The result is a must-read - one which truly contributes to the resurgence of radical analyses of the political economy, free from the market optimism of the main-stream economics.

Beyond the Crisis

Adjiedj Bakas
Beyond the Crisis Book PDF

Author : Adjiedj Bakas
Publisher : Unknown
Page : 294 pages
File Size : 52,9 Mb
Release : 2009
Category : Business & Economics
ISBN : PSU:000067085088

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Beyond the Crisis by Adjiedj Bakas Pdf

The Current Deep Economic Crisis Marks a Great Transition. The Chinese phrase for crisis consists of two words danger and opportunity. In Beyond the Crisis: The Future of Capitalism, renowned futurologist, Adjiedj Bakas, leads you through, and then out of, the New Great Depression of the 21st century. The current economic crisis marks the end of an era, and the start of a new one. It is the 5th major crisis in 200 years' time. All of them occurred at the transition from one era to the next. The 1930s may have been a time of deep economic crisis and mass unemployment, yet in those days the Kennedys made their fortunes, art deco was born and the radio, car, and telephone grew to be so much in demand that great new industries emerged out of the ashes of the crisis. During the major economic crisis of the 1980s the personal computer, mobile phone and Internet were born and developed into major new industries. During the current crisis we finally say goodbye to the 20th century and transit into the new, post-material economy with new economic pillars and the mixture with digital collaboration powered by "cloud computing," the next generation Internet. We say hello to a new era, with China as the new global powerhouse instead of the U.S., with globalization turning into slowbalization, with less wealth and more focus on the Economy of Happiness. "Bakas looks behind today¿s headlines and uses knowledge and wisdom from different fields: economics, technology, philosophy and spirituality, in order to grasp what is really going on in our world, and the real changes in our global economy. I truly recommend this book because it may change your future and that of your children." --Professor Jianmao Wang, Economist at the China Europe International Business School

The Future of Capitalism

Paul Collier
The Future of Capitalism Book PDF

Author : Paul Collier
Publisher : HarperCollins
Page : 369 pages
File Size : 54,9 Mb
Release : 2018-12-04
Category : History
ISBN : 9780062748669

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The Future of Capitalism by Paul Collier Pdf

Bill Gates's Five Books for Summer Reading 2019 From world-renowned economist Paul Collier, a candid diagnosis of the failures of capitalism and a pragmatic and realistic vision for how we can repair it. Deep new rifts are tearing apart the fabric of the United States and other Western societies: thriving cities versus rural counties, the highly skilled elite versus the less educated, wealthy versus developing countries. As these divides deepen, we have lost the sense of ethical obligation to others that was crucial to the rise of post-war social democracy. So far these rifts have been answered only by the revivalist ideologies of populism and socialism, leading to the seismic upheavals of Trump, Brexit, and the return of the far-right in Germany. We have heard many critiques of capitalism but no one has laid out a realistic way to fix it, until now. In a passionate and polemical book, celebrated economist Paul Collier outlines brilliantly original and ethical ways of healing these rifts—economic, social and cultural—with the cool head of pragmatism, rather than the fervor of ideological revivalism. He reveals how he has personally lived across these three divides, moving from working-class Sheffield to hyper-competitive Oxford, and working between Britain and Africa, and acknowledges some of the failings of his profession. Drawing on his own solutions as well as ideas from some of the world’s most distinguished social scientists, he shows us how to save capitalism from itself—and free ourselves from the intellectual baggage of the twentieth century.

After the Meltdown

Marc De Vos
After the Meltdown Book PDF

Author : Marc De Vos
Publisher : Unknown
Page : 145 pages
File Size : 53,5 Mb
Release : 2010
Category : Capitalism
ISBN : 1907149155

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After the Meltdown by Marc De Vos Pdf

The subprime crisis and the global recession are almost over. But what will be their long-term consequences? In engaging prose, this book argues how crisis policies and growth policies alike are steering the world towards the "Age of the Twin Crises." It depicts an uncomfortable new reality for globalization, international relations, the market economy, and future economic growth. But it does map out an agenda for better markets and smarter government. Insightful and provocative - mixing economics, politics, history, and law - this book will be an inspiring and confrontational read for anyone interested in understanding the new post-meltdown world.

A Failure of Capitalism

Richard A. Posner
A Failure of Capitalism Book PDF

Author : Richard A. Posner
Publisher : Harvard University Press
Page : 369 pages
File Size : 55,9 Mb
Release : 2011-05-31
Category : Business & Economics
ISBN : 9780674252844

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A Failure of Capitalism by Richard A. Posner Pdf

The financial and economic crisis that began in 2008 is the most alarming of our lifetime because of the warp-speed at which it is occurring. How could it have happened, especially after all that we’ve learned from the Great Depression? Why wasn’t it anticipated so that remedial steps could be taken to avoid or mitigate it? What can be done to reverse a slide into a full-blown depression? Why have the responses to date of the government and the economics profession been so lackluster? Richard Posner presents a concise and non-technical examination of this mother of all financial disasters and of the, as yet, stumbling efforts to cope with it. No previous acquaintance on the part of the reader with macroeconomics or the theory of finance is presupposed. This is a book for intelligent generalists that will interest specialists as well. Among the facts and causes Posner identifies are: excess savings flowing in from Asia and the reckless lowering of interest rates by the Federal Reserve Board; the relation between executive compensation, short-term profit goals, and risky lending; the housing bubble fuelled by low interest rates, aggressive mortgage marketing, and loose regulations; the low savings rate of American people; and the highly leveraged balance sheets of large financial institutions. Posner analyzes the two basic remedial approaches to the crisis, which correspond to the two theories of the cause of the Great Depression: the monetarist—that the Federal Reserve Board allowed the money supply to shrink, thus failing to prevent a disastrous deflation—and the Keynesian—that the depression was the product of a credit binge in the 1920s, a stock-market crash, and the ensuing downward spiral in economic activity. Posner concludes that the pendulum swung too far and that our financial markets need to be more heavily regulated.

Deaths of Despair and the Future of Capitalism

Anne Case,Angus Deaton
Deaths of Despair and the Future of Capitalism Book PDF

Author : Anne Case,Angus Deaton
Publisher : Princeton University Press
Page : 332 pages
File Size : 53,7 Mb
Release : 2021-03-02
Category : Business & Economics
ISBN : 9780691217062

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Deaths of Despair and the Future of Capitalism by Anne Case,Angus Deaton Pdf

A New York Times Bestseller A Wall Street Journal Bestseller A New York Times Notable Book of 2020 A New York Times Book Review Editors’ Choice Shortlisted for the Financial Times and McKinsey Business Book of the Year A New Statesman Book to Read From economist Anne Case and Nobel Prize winner Angus Deaton, a groundbreaking account of how the flaws in capitalism are fatal for America's working class Deaths of despair from suicide, drug overdose, and alcoholism are rising dramatically in the United States, claiming hundreds of thousands of American lives. Anne Case and Angus Deaton explain the overwhelming surge in these deaths and shed light on the social and economic forces that are making life harder for the working class. As the college educated become healthier and wealthier, adults without a degree are literally dying from pain and despair. Case and Deaton tie the crisis to the weakening position of labor, the growing power of corporations, and a rapacious health-care sector that redistributes working-class wages into the pockets of the wealthy. This critically important book paints a troubling portrait of the American dream in decline, and provides solutions that can rein in capitalism's excesses and make it work for everyone.

Can We Avoid Another Financial Crisis?

Steve Keen
Can We Avoid Another Financial Crisis Book PDF

Author : Steve Keen
Publisher : John Wiley & Sons
Page : 140 pages
File Size : 46,6 Mb
Release : 2017-05-09
Category : Political Science
ISBN : 9781509513765

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Can We Avoid Another Financial Crisis? by Steve Keen Pdf

The Great Financial Crash had cataclysmic effects on the global economy, and took conventional economists completely by surprise. Many leading commentators declared shortly before the crisis that the magical recipe for eternal stability had been found. Less than a year later, the biggest economic crisis since the Great Depression erupted. In this explosive book, Steve Keen, one of the very few economists who anticipated the crash, shows why the self-declared experts were wrong and how ever–rising levels of private debt make another financial crisis almost inevitable unless politicians tackle the real dynamics causing financial instability. He also identifies the economies that have become 'The Walking Dead of Debt', and those that are next in line – including Australia, Belgium, China, Canada and South Korea. A major intervention by a fearlessly iconoclastic figure, this book is essential reading for anyone who wants to understand the true nature of the global economic system.

Frontiers of Political Economy

Guglielmo Carchedi
Frontiers of Political Economy Book PDF

Author : Guglielmo Carchedi
Publisher : Verso
Page : 342 pages
File Size : 54,7 Mb
Release : 1991
Category : Business & Economics
ISBN : 0860915662

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Frontiers of Political Economy by Guglielmo Carchedi Pdf

Transcending the arid formalism of present-day economic theory, Frontiers of Political Economy develops a new and accessible perspective on the world economy. Guglielmo Carchedi identifies and analyses three key features of modern capitalism: the rapidly increasing share of human labour needed for the advancement of science and technology rather than for the production of goods; the global, rather than national, nature of production, distribution and consumption; and the dominance of the oligopolies. This analysis enables Carchedi to explore new theoretical frontiers: from an original theory of mental and material labour to an investigation of the conditions under which mental labour produces value; from an assessment of the class structure of modern capitalism to an appraisal of the social content of science and technology; from an alternative account of crises, inflation and stagflation to a study of their relation to the destruction of value and to arms production. He also cast fresh light on a number of basic contemporary issues—including the present financial and monetary crisis—and surveys the most important recent controversies in language accessible to non-specialists. Rigorous and wide-ranging, but written with great lucidity, Frontiers of Political Economy is an essential book for both specialists and students in economics and politics.

Capitalism

Geoffrey Ingham
Capitalism Book PDF

Author : Geoffrey Ingham
Publisher : Polity
Page : 291 pages
File Size : 49,7 Mb
Release : 2008
Category : Business & Economics
ISBN : 9780745636481

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Capitalism by Geoffrey Ingham Pdf

This book provides a basic introduction to the 'nuts and bolts' of capitalism for the beginner. Capitalism is a concise, masterly and up-to-date account of the world's most powerful economic system that is accessible to students and general readers.

New Ideas on Development after the Financial Crisis

Nancy Birdsall,Francis Fukuyama
New Ideas on Development after the Financial Crisis Book PDF

Author : Nancy Birdsall,Francis Fukuyama
Publisher : Johns Hopkins University Press
Page : 0 pages
File Size : 41,6 Mb
Release : 2011-05-15
Category : Business & Economics
ISBN : 0801899753

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New Ideas on Development after the Financial Crisis by Nancy Birdsall,Francis Fukuyama Pdf

The global financial crisis of 2008–9 has changed the way people around the world think about development. The market-friendly, lightly regulated model of capitalism promoted by the United States is now at risk, and development thinking worldwide is at something of an impasse. Editors Nancy Birdsall and Francis Fukuyama bring together leading scholars to explore the implications of the global financial crisis on existing and future development strategies. In addressing this issue, the contributors contemplate three central questions: What effect has the crisis had on current ideas in development thinking? How has it affected and how will it affect economic policy and political realities in Latin America and Asia, including China and India? Will the financial collapse reinforce shifts in geopolitical power and influence, and in what form? Essays answering these questions identify themes that are essential as economic and political leaders address future challenges of development. To help move beyond this time of global economic turmoil, the contributors—the foremost minds in the field of international development—offer innovative ideas about stabilizing the international economy and promoting global development strategies. Contributors: Nancy Birdsall, Center for Global Development; Michael Clemens, Center for Global Development; Kemal Dervis, Brookings Institution; Larry Diamond, Stanford University; Francis Fukuyama, Stanford University; Peter S. Heller, Johns Hopkins University; Yasheng Huang, Massachusetts Institute of Technology; Justin Yifu Lin, World Bank; José Antonio Ocampo, Columbia University; Mitchell A. Orenstein, Johns Hopkins University; Minxin Pei, Claremont McKenna College; Lant Pritchett, Harvard University; Liliana Rojas-Suarez, Center for Global Development; Arvid Subramanian, Johns Hopkins University

Crisis Economics

Nouriel Roubini,Stephen Mihm
Crisis Economics Book PDF

Author : Nouriel Roubini,Stephen Mihm
Publisher : Penguin
Page : 368 pages
File Size : 44,6 Mb
Release : 2010-05-11
Category : Business & Economics
ISBN : 9781101427422

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Crisis Economics by Nouriel Roubini,Stephen Mihm Pdf

This myth shattering book reveals the methods Nouriel Roubini used to foretell the current crisis before other economists saw it coming and shows how those methods can help us make sense of the present and prepare for the future. Renowned economist Nouriel Roubini electrified his profession and the larger financial community by predicting the current crisis well in advance of anyone else. Unlike most in his profession who treat economic disasters as freakish once-in-­a-lifetime events without clear cause, Roubini, after decades of careful research around the world, realized that they were both probable and predictable. Armed with an unconventional blend of historical analysis and global economics, Roubini has forced politicians, policy makers, investors, and market watchers to face a long-neglected truth: financial systems are inherently fragile and prone to collapse. Drawing on the parallels from many countries and centuries, Nouriel Roubini and Stephen Mihm, a professor of economic history and a New York Times Magazine writer, show that financial cataclysms are as old and as ubiquitous as capitalism itself. The last two decades alone have witnessed comparable crises in countries as diverse as Mexico, Thailand, Brazil, Pakistan, and Argentina. All of these crises-not to mention the more sweeping cataclysms such as the Great Depression-have much in common with the current downturn. Bringing lessons of earlier episodes to bear on our present predicament, Roubini and Mihm show how we can recognize and grapple with the inherent instability of the global financial system, understand its pressure points, learn from previous episodes of "irrational exuberance," pinpoint the course of global contagion, and plan for our immediate future. Perhaps most important, the authors-considering theories, statistics, and mathematical models with the skepticism that recent history warrants—explain how the world's economy can get out of the mess we're in, and stay out. In Roubini's shadow, economists and investors are increasingly realizing that they can no longer afford to consider crises the black swans of financial history. A vital and timeless book, Crisis Economics proves calamities to be not only predictable but also preventable and, with the right medicine, curable.

Business as Usual

Paul Mattick
Business as Usual Book PDF

Author : Paul Mattick
Publisher : Reaktion Books
Page : 129 pages
File Size : 48,7 Mb
Release : 2011-05-15
Category : Business & Economics
ISBN : 9781861899828

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Business as Usual by Paul Mattick Pdf

The recent global economic downturn has affected nearly everyone in every corner of the globe. Its vast reach and lingering effects have made it difficult to pinpoint its exact cause, and while some economists point to the risks inherent in the modern financial system, others blame long-term imbalances in the world economy. Into this debate steps Paul Mattick, who, in Business as Usual, explains the global economic downturn in relation to the development of the world economy since World War II, but also as a fundamental example of the cycle of crisis and recovery that has characterized capitalism since the early nineteenth century. Mattick explains that today’s recession is not the result of a singular financial event but instead is a manifestation of long-term processes within the world economy. Mattick argues that the economic downturn can best be understood within the context of business cycles, which are unavoidable in a free-market economy. He uses this explanation as a springboard for exploring the nature of our capitalist society and its prospects for the future. Although Business as Usual engages with many economic theories, both mainstream and left-wing, Mattick’s accessible writing opens the subject up in order for non-specialists to understand the current economic climate not as the effect of a financial crisis, but as a manifestation of a truth about the social and economic system in which we live. As a result the book is ideal for anyone who wants to gain a succinct and jargon-free understanding of recent economic events, and, just as important, the overall dynamics of the capitalist system itself.

The Road from Ruin

Matthew Bishop,Michael F. Green
The Road from Ruin Book PDF

Author : Matthew Bishop,Michael F. Green
Publisher : Random House Digital, Inc.
Page : 402 pages
File Size : 49,5 Mb
Release : 2011
Category : Capitalism
ISBN : 9780307464231

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The Road from Ruin by Matthew Bishop,Michael F. Green Pdf

We Have a World-Class Mess . . . Now What? Amid the carnage of bankruptcies, soaring unemployment, and millions of families losing their homes during the financial crisis of 2007-2009 lay the bloody corpse of a set of ideas that had underpinned the economics of the previous thirty years. A system that had been delivering unprecedented prosperity on a global scale suddenly teetered on the verge of collapse. Capitalism was seemingly exposed as a house of cards. The blame game became a new national pastime as doomsayers predicted the end of America's leadership of the world economy. We're at a crossroads, and decisions about how to reshape a discredited capitalism will profoundly affect whether the coming years will be ones of depression, stagnation, or renewed prosperity. Instant analysis since the collapse of the financial system in the fall of 2008 has produced no end of ideas about what to do--ranging from those of free market ideologues (let the market do its work and damn the consequences) to extreme government interventionists determined to keep the animal spirits of capitalism penned up. But if there is anything worse than toxic financial assets it is toxic ideas. We need to reject the old orthodoxies and conventional wisdoms. Matthew Bishop and Michael Green take a step back and analyze what can be learned from financial crises of the past--from the Tulip Craze of the seventeenth century through the Great Depression of the 1930s, Japan's Great Deflation, and the Long-Term Capital debacle of the 1990s to the unprecedented interventions of the government during the past year--to set the agenda for a reformed twenty-first-century capitalism. The result is an enlightening perspective on what set us on the road to ruin, as well as road signs to guide us back to prosperity. --Why bubbles are the consequence of financial innovations that generate economic breakthroughs, but why it would be wrong to abandon these inventions of the financial engineers. The Road from Ruin explains how stifling innovation and risk-taking comes at a huge cost to future prosperity. --Why the economy needed a fiscal stimulus to recover from the crisis. Bishop and Green show how economic dogmatists of the Right, who opposed the stimulus, got it wrong, but warn that those on the Left who want the stimulus to run and run could usher in a new era of high inflation. --Why company bosses became too focused on short-term results and did not see the crisis coming. The Road from Ruin shows how we can get business leaders to put the interests of society ahead of their own pay-packets. --The danger of focusing on the financial symptoms of the crisis without tackling the underlying economic causes, such as the world operating on the dollar standard. Bishop and Green show why the role of the dollar as the world's reserve currency is not just a problem for the rest of the world but for the United States as well. --Why many of capitalism's champions--especially the advocates of the efficient market hypothesis--lost touch with reality. The Road from Ruin provides insights into new ideas in economics that recognize how the complexity and irrationality of the human beings who make up the economy can be harnessed to build a better capitalism. Remarkably, the issues we face today have presented themselves in one form or another over the past three centuries. Matthew Bishop and Michael Green skillfully draw both the lessons learned and prescriptions for reform to prevent another catastrophic meltdown and put America back on top.

Does Capitalism Have a Future?

Immanuel Maurice Wallerstein,Randall Collins,Michael Mann,Georgi Derleugian,Georgi M. Derluguian,Craig Calhoun
Does Capitalism Have a Future Book PDF

Author : Immanuel Maurice Wallerstein,Randall Collins,Michael Mann,Georgi Derleugian,Georgi M. Derluguian,Craig Calhoun
Publisher : Oxford University Press
Page : 199 pages
File Size : 47,9 Mb
Release : 2013
Category : Business & Economics
ISBN : 9780199330850

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Does Capitalism Have a Future? by Immanuel Maurice Wallerstein,Randall Collins,Michael Mann,Georgi Derleugian,Georgi M. Derluguian,Craig Calhoun Pdf

In Does Capitalism Have a Future?, the prominent theorist Georgi Derleugian has gathered together a quintet of eminent macrosociologists to assess whether the capitalist system can survive.