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| Author | : Robert Brenner |
| Publisher | : Verso |
| Total Pages | : 412 |
| Release | : 2006-08-17 |
| Genre | : Business & Economics |
| ISBN | : 9781859847305 |
A commanding survey of the world economy from 1950 to the present, from the author of the acclaimed The Boom and the Bubble.
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| Publisher | : |
| Total Pages | : 264 |
| Release | : 1998 |
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| ISBN | : |
| Author | : Clair Brown |
| Publisher | : University of Chicago Press |
| Total Pages | : 212 |
| Release | : 2008-09-15 |
| Genre | : Business & Economics |
| ISBN | : 0226076342 |
Every day, in every sector of our economy, a business shuts down while another starts up, jobs are created while others are cut, and workers are hired while others are laid off. This constant flux, or turbulence, is a defining characteristic of our free market system, yet it mostly inspires angst about unemployment, loss of earnings, and the overall competitiveness of corporations. But is this endless cycle of fluctuation really so bad for America? Might something positive be going on in the economy as a result of it? In this penetrating work, three esteemed economists seek to answer these questions by exploring the real impact of volatility on American workers and businesses alike. According to the authors, while any number of events--shifts in consumer demand, changes in technology, mergers and acquisitions, or increased competition--can contribute to economic turbulence, our economy as a whole is, by and large, stronger for it, because these processes of creation and destruction make it more flexible and adaptable. The authors also acknowledge and document the adverse consequences of this turbulence on different groups of workers and firms and discuss the resulting policy challenges. Basing their argument on an up-close look into the dealings and practices of five key industries—financial services, retail food services, trucking, semiconductors, and software—the authors demonstrate the positive effects of turbulence on career paths, employee earnings, and firm performance. The first substantial attempt to disentangle and make clear the complexities of this phenomenon in the United States, Economic Turbulence will be viewed as a major achievement and the centerpiece of any discussion on the subject for years to come.
| Author | : Robert Brenner |
| Publisher | : Verso Books |
| Total Pages | : 304 |
| Release | : 2020-05-05 |
| Genre | : Business & Economics |
| ISBN | : 1789609135 |
A sustained period of significant growth in the US, however, seemed to save the day against all the odds. So impressive was the surface appearance of this rescue mission that all manner of commentators proclaimed-once again-that a 'new economy' or 'new paradigm' of unlimited and harmonious growth had been forged. Today, as recession looms, the babble about Internet start-ups is exposed as vapid. Yet the pundits are no nearer an understanding of how or why the boom turned into a bubble, or why the bubble has burst. In this crisp and forensic book, Robert Brenner demonstrates that the boom was always a fragile phenomenon-buoyed up by absurd levels of debt and stock-market overvaluation-which never broke free from the fundamental malady of overcapacity and overproduction which continues to afflict the global economy. Carefully dismantling the myths and hype that surround the US boom in terms of profitability, investment, and productivity, Brenner restores the properly international context to the process. He portrays the 'zero-sum' character of the American success, which presupposed the relative weakness of its main German and Japanese competitors: a strategy that has laid huge obstacles in the path of a 'soft landing' to end the current phase of growth. A substantial new Postscript provides and up-to-date analysis of the Bush economic debacle-the crisis of manufacturing, the telecom bust, the record twin deficits, plummeting employment, and the real estate bubble.
| Author | : David McNally |
| Publisher | : PM Press |
| Total Pages | : 289 |
| Release | : 2010-12-09 |
| Genre | : Business & Economics |
| ISBN | : 1604860650 |
Global Slump analyzes the global financial meltdown as the first systemic crisis of the neoliberal stage of capitalism. It argues that—far from having ended—the crisis has ushered in a whole period of worldwide economic and political turbulence. In developing an account of the crisis as rooted in fundamental features of capitalism, Global Slump challenges the view that its source lies in financial deregulation. The book locates the recent meltdown in the intense economic restructuring that marked the recessions of the mid-1970s and early 1980s. Through this lens, it highlights the emergence of new patterns of world inequality and new centers of accumulation, particularly in East Asia, and the profound economic instabilities these produced. Global Slump offers an original account of the “financialization” of the world economy during this period, and explores the intricate connections between international financial markets and new forms of debt and dispossession, particularly in the Global South. Analyzing the massive intervention of the world’s central banks to stave off another Great Depression, Global Slump shows that, while averting a complete meltdown, this intervention also laid the basis for recurring crises for poor and working class people: job loss, increased poverty and inequality, and deep cuts to social programs. The book takes a global view of these processes, exposing the damage inflicted on countries in the Global South, as well as the intensification of racism and attacks on migrant workers. At the same time, Global Slump also traces new patterns of social and political resistance—from housing activism and education struggles, to mass strikes and protests in Martinique, Guadeloupe, France and Puerto Rico—as indicators of the potential for building anti-capitalist opposition to the damage that neoliberal capitalism is inflicting on the lives of millions.
| Author | : David B. Audretsch |
| Publisher | : Oxford University Press |
| Total Pages | : 245 |
| Release | : 2016 |
| Genre | : Business & Economics |
| ISBN | : 0190258691 |
Europe and much of the developed world have been bogged down by stagnant economic growth and alarmingly high rates of unemployment. But not Germany. This book reveals seven key aspects of the German economy and society that have provided considerable buoyance in an era of global turbulence.
| Author | : Hazel Gray |
| Publisher | : Oxford University Press |
| Total Pages | : 272 |
| Release | : 2018-02-08 |
| Genre | : Business & Economics |
| ISBN | : 0192548018 |
The terms of debate on the role of institutions in economic development are changing. Stable market institutions, in particular, secure private property rights and democratically accountable governments that uphold the rule of law, are widely seen to be a pre-requisite for economic transformation in low income countries, yet over the last thirty years, economic growth and structural transformation has surged forward in a range of countries where market and state institutions have differed these ideals, as well as from each other. Turbulence and Order in Economic Development studies the role of the state in two such countries, examining the interplay between market liberalization, institutions, and the distribution of power in Tanzania and Vietnam. Tanzania and Vietnam were two of the poorest countries in the world in the early 1980s but over the last thirty years, both have experienced significant changes in the pace and character of economic development. While both countries experienced faster rates of GDP growth, their paths of economic transformation were very different as Vietnam experienced rapid poverty reduction associated with the expansion of manufacturing while Tanzania's path of industrialization was characterized by the rise of mining and a much slower pace of poverty reduction. Employing a political settlements approach, this book considers the comparative role of the state in driving economic transformation. In both countries, the experiences of socialism continued to shape the role of the state in the economy even after extensive market liberalization, however, the distribution of political and economic power was very different. This had important consequences for the overlapping role of the state in generating political order and in driving economic transformation. Turbulence and Order in Economic Development studies the formal and informal ways that the state influenced economic transformation through its role in public financial management, land and industrial policy.
| Author | : Alan Greenspan |
| Publisher | : Penguin |
| Total Pages | : 612 |
| Release | : 2008-09-09 |
| Genre | : Biography & Autobiography |
| ISBN | : 9780143114161 |
From the bestselling author of The Map and the Territory and Capitalism in America The Age Of Turbulence is Alan Greenspan’s incomparable reckoning with the contemporary financial world, channeled through his own experiences working in the command room of the global economy longer and with greater effect than any other single living figure. Following the arc of his remarkable life’s journey through his more than eighteen-year tenure as chairman of the Federal Reserve Board to the present, in the second half of The Age of Turbulence Dr. Greenspan embarks on a magnificent tour d’horizon of the global economy. The distillation of a life’s worth of wisdom and insight into an elegant expression of a coherent worldview, The Age of Turbulence will stand as Alan Greenspan’s personal and intellectual legacy.
| Author | : Ralph C. Bryant |
| Publisher | : Brookings Institution Press |
| Total Pages | : 532 |
| Release | : 2003 |
| Genre | : Business & Economics |
| ISBN | : 9780815700722 |
The world economy at the end of the twentieth century was afflicted with financial turbulence. Millions of people in emerging-market nations endured severe recessions, and many residents of wealthy nations also experienced losses. Some scholars describe this instability as a consequence of a progressively integrated global economy. Writing for the Washington Post, Jessica Matthews describe an "enormous, several trillion-dollar pool of money that sloshes around in what is effectively a supranational cyberspace, moving by computer in and out of off-shore banks and chasing profits in twenty-four hour markets."Spanning the disciplines of economics, finance, political economy and international relations, this wide-ranging, analytical review is a mainstream "primer" for defining the issues and catalyzing a fruitful public debate. It is grounded in an exposition of the analytic fundamentals of financial activity, how those fundamentals apply to an integrating (but still far from perfectly integrated) world economy and financial system, and how the institutions of collective governance need to be adapted to that evolving world. In addition to its analytical overview, Turbulent Waters offers practical recommendations for the major financial challenges that policymakers will face during the first decades of the twenty-first century.
| Author | : Laurent Ferrara |
| Publisher | : Springer |
| Total Pages | : 298 |
| Release | : 2018-06-13 |
| Genre | : Business & Economics |
| ISBN | : 3319790757 |
This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.
