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Philosophy in the Time of Economic Crisis

Philosophy in the Time of Economic Crisis
Author: Kenneth W. Stikkers
Publisher: Routledge
Total Pages: 357
Release: 2017-08-23
Genre: Business & Economics
ISBN: 1351687239

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For over 2000 years, economics was studied in the West as a branch of ethics, or moral philosophy. Presently, though, few economists and no textbook in economic orthodoxy claim any close connection between economic science and philosophy. However, might the current ‘crises’ in economics, and in the economics profession have their deep roots in the separation of economics from philosophy and ethics? American pragmatism, among the various contemporary philosophic traditions, lends itself specially to dialogue with economics because of its view of philosophy as an instrument for solving the real, concrete problems of human life, both personal and social. The essays in this volume, drawing heavily on the tradition of pragmatism, suggest that the economic crises of our time (the 2008 collapse of real estate and finance markets) might not be merely technical in nature - that is, the result of faulty applications of economic tools by politicians and policy makers, based up conventional economic models - but also due to the faulty philosophical assumptions underlying those models. These essays suggest that the overcoming of our current economic crises requires that economists once again become moral philosophers, or that philosophers once again engage themselves in economic matters. In either case, this volume aims to foster dialogue between the two disciplines and in that way, contribute to the improvement of contemporary economic life. This book is suitable for those who study political economy, economic theory and economic philosophy.


Making Money

Making Money
Author: Ole Bjerg
Publisher: Verso Books
Total Pages: 305
Release: 2014-04-22
Genre: Philosophy
ISBN: 1781682658

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What is money? Where does it come from? Who makes our money today? And how can we understand the current state of our economy as a crisis of money itself? In Making Money, Ole Bjerg turns these questions into a matter of philosophical rather than economic analysis. Using the thinking of Slavoj Žižek, while still engaging with mainstream economic literature, the book provides a genuinely philosophical theory of money. This theory is unfolded in reflections on the nature of monetary phenomenon such as financial markets, banks, debt, credit, derivatives, gold, risk, value, price, interests, and arbitrage. The analysis of money is put into an historical context by suggesting that the current financial turbulence and debt crisis are symptoms that we live in the age of post-credit capitalism. By bridging the fields of economics and contemporary philosophy, Bjerg's work engages in a productive form of intellectual arbitrage.


Finance and Philosophy

Finance and Philosophy
Author: Alex J. Pollock
Publisher: Paul Dry Books
Total Pages: 219
Release: 2019-08-20
Genre: Business & Economics
ISBN: 1589881303

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Taking the 2008 financial crisis as his jumping off point, Alex Pollock deftly illustrates how private firms and governments alike have failed to understand the shifting risks that financial systems create. With candor, clarity, and wit, he uncovers the persistent uncertainties inherent in banking, central banking, and economics. “At the height of the 2008 financial panic, Queen Elizabeth plaintively asked why nobody saw it coming. In the winning pages of Finance and Philosophy, Her Majesty can find the answer. With a lightness of touch that belies the complexity of his subject, Alex Pollock shows why the financial future is now, why it has been and always must be a closed book. A successful banker and gifted writer, Pollock tells us all we need to know about money and banking, risk and uncertainty, debt and temptation, and science and economics. He delights as he instructs.”—James Grant, founder and editor, Grant’s Interest Rate Observer “Why can’t human beings take the lessons of boom and bust, bubbles and crashes that are clearly described in history books—and learn from experience? That’s where Mr. Pollock’s wry humor and philosophic bent help understand the hubris that makes every generation believe that not only can it predict the markets, but control them . . . [Finance and Philosophy] should be required reading in economics classes, or before opening an investment account—and by every member of Congress.”—The Washington Times Alex J. Pollock is a distinguished senior fellow at the R Street Institute in Washington, DC. He was a resident fellow at the American Enterprise Institute from 2004 to 2015, and President and Chief Executive Officer of the Federal Home Loan Bank of Chicago from 1991 to 2004.


The Great Depression Revisited

The Great Depression Revisited
Author: H. van der Wee
Publisher: Springer
Total Pages: 212
Release: 1973-07-31
Genre: Business & Economics
ISBN:

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For a quarter of a century the industrial Western world has been living in the euphoria of continuous improvements in welfare, based on economic programming, increasing integration and terms of trade which favor indus trial countries and discriminate against agricultural regions. It is true that recessions have periodically recurred during these years : time and again, however, government intervention succeeded in reducing them to mere "in ventory cycles". In contrast with the twenties and thirties, when economic policy in the West focused on fighting unemployment and stimulating investment, the postwar period has been characterized by a permanent concern to curb inflationary pressure, which was partly due to full-employ ment. The present welfare economy has given rise to a growth of the pro pensity to consume such that public policy has often been constrained to limit consumption and stimulate saving. In this new framework it has perhaps been forgotten that today's welfare owes much to the lessons from the past. The bitter world crisis experience of the thirties in particular has exerted a fruitful and decisive influence upon the search for means to prevent, eliminate or soften the cyclical fluctuations which the process of economic growth involves. Forty years after the out break of the greatest economic crisis ever, it seems useful to draw up the balancesheet of the lessons learned from it. There exists a large literature about the depression of the thirties.


Midlife

Midlife
Author: Kieran Setiya
Publisher: Princeton University Press
Total Pages: 200
Release: 2017-09-22
Genre: Philosophy
ISBN: 1400888476

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Philosophical wisdom and practical advice for overcoming the problems of middle age How can you reconcile yourself with the lives you will never lead, with possibilities foreclosed, and with nostalgia for lost youth? How can you accept the failings of the past, the sense of futility in the tasks that consume the present, and the prospect of death that blights the future? In this self-help book with a difference, Kieran Setiya confronts the inevitable challenges of adulthood and middle age, showing how philosophy can help you thrive. You will learn why missing out might be a good thing, how options are overrated, and when you should be glad you made a mistake. You will be introduced to philosophical consolations for mortality. And you will learn what it would mean to live in the present, how it could solve your midlife crisis, and why meditation helps. Ranging from Aristotle, Schopenhauer, and John Stuart Mill to Virginia Woolf and Simone de Beauvoir, as well as drawing on Setiya’s own experience, Midlife combines imaginative ideas, surprising insights, and practical advice. Writing with wisdom and wit, Setiya makes a wry but passionate case for philosophy as a guide to life.


This Time Is Different

This Time Is Different
Author: Carmen M. Reinhart
Publisher: Princeton University Press
Total Pages: 513
Release: 2011-08-07
Genre: Business & Economics
ISBN: 0691152640

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An empirical investigation of financial crises during the last 800 years.


Business as Usual

Business as Usual
Author: Paul Mattick
Publisher: Reaktion Books
Total Pages: 129
Release: 2011-05-15
Genre: Business & Economics
ISBN: 1861899823

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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.


Lessons from the Financial Crisis

Lessons from the Financial Crisis
Author: Rob Quail
Publisher: John Wiley & Sons
Total Pages: 708
Release: 2010-06-08
Genre: Business & Economics
ISBN: 0470561777

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The world's best financial minds help us understand today's financial crisis With so much information saturating the market for the everyday investor, trying to understand why the economic crisis happened and what needs to be done to fix it can be daunting. There is a real need, and demand, from both investors and the financial community to obtain answers as to what really happened and why. Lessons from the Financial Crisis brings together the leading minds in the worlds of finance and academia to dissect the crisis. Divided into three comprehensive sections-The Subprime Crisis; The Global Financial Crisis; and Law, Regulation, the Financial Crisis, and The Future-this book puts the events that have transpired in perspective, and offers valuable insights into what we must do to avoid future missteps. Each section is comprised of chapters written by experienced contributors, each with his or her own point of view, research, and conclusions Examines the market collapse in detail and explores safeguards to stop future crises Encompasses the most up-to-date analysis from today's leading financial minds We currently face a serious economic crisis, but in understanding it, we can overcome the challenges it presents. This well-rounded resource offers the best chance to get through the current situation and learn from our mistakes.


Legitimation Crisis

Legitimation Crisis
Author: Juergen Habermas
Publisher: Beacon Press
Total Pages: 196
Release: 1975-08-25
Genre: Philosophy
ISBN: 9780807015216

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Critical Theory originated in the perception by a group of German Marxists after the First World War that the Marxist analysis of capitalism had become deficient both empirically and with regard to its consequences for emancipation, and much of their work has attempted to deepen and extend it in new circumstances. Yet much of this revision has been in the form of piecemeal modification. In his latest work, Habermas has returned to the study of capitalism, incorporating the distinctive modifications of the Frankfurt School into the foundations of the critique of capitalism. Drawing on both systems theory and phenomenological sociology as well as Marxism, the author distinguishes four levels of capitalist crisis - economic, rationality, legitimation, and motivational crises. In his analysis, all the Frankfurt focus on cultural, personality, and authority structures finds its place, but in a systematic framework. At the same time, in his sketch of communicative ethics as the highest stage in the internal logic of the evolution of ethical systems, the author hints at the source of a new political practice that incorporates the imperatives of evolutionary rationality.