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From Financial Crisis to Stagnation: The Destruction of Shared Prosperity and the Role of Economics

Thomas I. Palley
4.9/5 (10071 ratings)
Read Now Download Now ⏭ listen AudioBook
Description:The U.S. economy today is confronted with the prospect of extended stagnation. This book explores why. Thomas I. Palley argues that the Great Recession and destruction of shared prosperity is due to flawed economic policy over the past thirty years. One flaw was the growth model adopted after 1980 that relied on debt and asset price inflation to fuel growth instead of wages. A second flaw was the model of globalization that created an economic gash. Third, financial deregulation and the house price bubble kept the economy going by making ever more credit available. As the economy cannibalized itself by undercutting income distribution and accumulating debt, it needed larger speculative bubbles to grow. That process ended when the housing bubble burst. The earlier post–World War II economic model based on rising middle-class incomes has been dismantled, while the new neoliberal model has imploded. Absent a change of policy paradigm, the logical next step is stagnation. The political challenge we face now is how to achieve paradigm change.We have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with From Financial Crisis to Stagnation: The Destruction of Shared Prosperity and the Role of Economics. To get started finding From Financial Crisis to Stagnation: The Destruction of Shared Prosperity and the Role of Economics, you are right to find our website which has a comprehensive collection of manuals listed.
Our library is the biggest of these that have literally hundreds of thousands of different products represented.
Pages
256
Format
PDF, EPUB & Kindle Edition
Publisher
Cambridge University Press
Release
2012
ISBN
1107016622

From Financial Crisis to Stagnation: The Destruction of Shared Prosperity and the Role of Economics

Thomas I. Palley
4.4/5 (1290744 ratings)
Read Now Download now ⏭ listen AudioBook
Description: The U.S. economy today is confronted with the prospect of extended stagnation. This book explores why. Thomas I. Palley argues that the Great Recession and destruction of shared prosperity is due to flawed economic policy over the past thirty years. One flaw was the growth model adopted after 1980 that relied on debt and asset price inflation to fuel growth instead of wages. A second flaw was the model of globalization that created an economic gash. Third, financial deregulation and the house price bubble kept the economy going by making ever more credit available. As the economy cannibalized itself by undercutting income distribution and accumulating debt, it needed larger speculative bubbles to grow. That process ended when the housing bubble burst. The earlier post–World War II economic model based on rising middle-class incomes has been dismantled, while the new neoliberal model has imploded. Absent a change of policy paradigm, the logical next step is stagnation. The political challenge we face now is how to achieve paradigm change.We have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with From Financial Crisis to Stagnation: The Destruction of Shared Prosperity and the Role of Economics. To get started finding From Financial Crisis to Stagnation: The Destruction of Shared Prosperity and the Role of Economics, you are right to find our website which has a comprehensive collection of manuals listed.
Our library is the biggest of these that have literally hundreds of thousands of different products represented.
Pages
256
Format
PDF, EPUB & Kindle Edition
Publisher
Cambridge University Press
Release
2012
ISBN
1107016622

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