The Bubble Economy

The Bubble Economy PDF Author: Robert U. Ayres
Publisher: MIT Press
ISBN: 0262027437
Category : Business & Economics
Languages : en
Pages : 387

Book Description
Why the global economy has become increasingly unstable, and how financial “de-carbonization” could break the pattern of bubble-driven wealth destruction. The global economy has become increasingly, perhaps chronically, unstable. Since 2008, we have heard about the housing bubble, subprime mortgages, banks “too big to fail,” financial regulation (or the lack of it), and the European debt crisis. Wall Street has discovered that it is more profitable to make money from other people's money than by investing in the real economy, which has limited access to capital—resulting in slow growth and rising inequality. What we haven't heard much about is the role of natural resources—energy in particular—as drivers of economic growth, or the connection of “global warming” to the economic crisis. In The Bubble Economy, Robert Ayres—an economist and physicist—connects economic instability to the economics of energy. Ayres describes, among other things, the roots of our bubble economy (including the divergent influences of Senator Carter Glass—of the Glass-Steagall Law—and Ayn Rand); the role of energy in the economy, from the “oil shocks” of 1971 and 1981 through the Iraq wars; the early history of bubbles and busts; the end of Glass-Steagall; climate change; and the failures of austerity. Finally, Ayres offers a new approach to trigger economic growth. The rising price of fossil fuels (notwithstanding “fracking”) suggests that renewable energy will become increasingly profitable. Ayres argues that government should redirect private savings and global finance away from home ownership and toward “de-carbonization”—investment in renewables and efficiency. Large-scale investment in sustainability will achieve a trifecta: lowering greenhouse gas emissions, stimulating innovation-based economic growth and employment, and offering long-term investment opportunities that do not depend on risky gambling strategies with derivatives.

Boom and Bust

Boom and Bust PDF Author: William Quinn
Publisher: Cambridge University Press
ISBN: 1108369359
Category : Business & Economics
Languages : en
Pages : 297

Book Description
Why do stock and housing markets sometimes experience amazing booms followed by massive busts and why is this happening more and more frequently? In order to answer these questions, William Quinn and John D. Turner take us on a riveting ride through the history of financial bubbles, visiting, among other places, Paris and London in 1720, Latin America in the 1820s, Melbourne in the 1880s, New York in the 1920s, Tokyo in the 1980s, Silicon Valley in the 1990s and Shanghai in the 2000s. As they do so, they help us understand why bubbles happen, and why some have catastrophic economic, social and political consequences whilst others have actually benefited society. They reveal that bubbles start when investors and speculators react to new technology or political initiatives, showing that our ability to predict future bubbles will ultimately come down to being able to predict these sparks.

America's Bubble Economy

America's Bubble Economy PDF Author: David Wiedemer
Publisher: John Wiley & Sons
ISBN: 1118018117
Category : Business & Economics
Languages : en
Pages : 257

Book Description
America’s Bubble Economy is the first book to focus on several simultaneous financial bubbles that are interacting to temporarily boost—and ultimately threaten—the United States and world economies. Filled with expert analysis and straight talk, this book will show you how to turn the coming economic transformation into a once-in-a-lifetime wealth-building opportunity.

False Profits

False Profits PDF Author: Dean Baker
Publisher: Berrett-Koehler Publishers
ISBN: 1609944771
Category : Political Science
Languages : en
Pages : 185

Book Description
Dean Baker, codirector of the Center for Economic and Policy Research recounts the strategies used by the country’s top economic policymakers to conceal their failure to recognize the housing bubble or take steps to rein it in before it grew to unprecedented levels, resulting in the loss of millions of jobs, homes, and the life savings of tens of millions of people. He quashes dire warnings of looming rampant inflation and spiraling debt with solid historic evidence to the contrary—evidence that supports more stimulus, not less. With a dose of optimism, Baker outlines a thoughtful progressive program for rebuilding the economy and reshaping the financial system, including new financial transaction taxes that will reduce or eliminate economic waste while providing stimulus and incentives where and when they are most needed.

Plunder and Blunder

Plunder and Blunder PDF Author: Dean Baker
Publisher: Berrett-Koehler Publishers
ISBN: 160994478X
Category : Business & Economics
Languages : en
Pages : 183

Book Description
For the second time this decade, the U.S. economy id sinking into a recession due to the collapse of a financial bubble. The most recent calamity will lead to a downturn deeper and longer than the stock market crash of 2001. Dean Baker's Plunder and Blunder chronicles the growth and collapse of the stock and housing bubbles and explains how policy blunders and greed led to the catastrophic --but completely predictable --market meltdowns. An expert guide to recent economic history, Baker offers policy prescriptions to help prevent similar financial disasters.

The Boom and the Bubble

The Boom and the Bubble PDF Author: Robert Brenner
Publisher: Verso Books
ISBN: 1789609135
Category : Business & Economics
Languages : en
Pages : 304

Book Description
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.

China

China PDF Author: Thomas Orlik
Publisher: Oxford University Press, USA
ISBN: 0190877405
Category : China
Languages : en
Pages : 241

Book Description
A provocative perspective on the fragile fundamentals, and forces for resilience, in the Chinese economy, and a forecast for the future on alternate scenarios of collapse and ascendance.

Postwar Japanese Economy

Postwar Japanese Economy PDF Author: Mitsuhiko Iyoda
Publisher: Springer Science & Business Media
ISBN: 1441963324
Category : Business & Economics
Languages : en
Pages : 167

Book Description
Since the end of World War II, the Japanese economy has seen rapid changes and remarkable progress. It has also experienced a bubble economy and period of prolonged stagnation. The book seeks to address three major questions: What kind of changes have taken place in the postwar years? In what sense has there been progress? What lessons can be drawn from the experiences? The book is organized as follows: It begins with an overview of the postwar Japanese economy, using data to highlight historical changes. The four major economic issues in the postwar Japanese economy (economic restoration, rapid economic growth, the bubble economy and current topics) are addressed, with particular focus on the meaning of economic growth and the bubble economy. The next chapters examine the important economic issues for Japan related to a welfare-oriented society, including income distribution, asset distribution, and the relative share of income. Another chapter deals with the household structure of Japan, the pension issue, and the importance of the effect of demographic change on income distribution. The final chapter gives a brief summary, examines quality of life as a lesson of this research, and briefly outlines a proposal for a basic design towards achieving a high satisfaction level society. This book will be of interest to economists, economic historians and political scientists and would be useful as a text for any course on the Japanese economy.

Meltdown!

Meltdown! PDF Author: Nina Dubin
Publisher: Harvey Miller
ISBN: 9781912554515
Category :
Languages : en
Pages : 250

Book Description
The international crash of 1720 long served as a touchstone for behavioral economists who perceive it as a gateway to the boom-and-bust cycles of the modern world. Perhaps not surprisingly, art history has contributed relatively little to our understanding of the significance of 1720. This book aims to redress this imbalance via a focus on the depiction of the first international financial crisis following the 1720 collapse of stock market bubbles in England, France, and the Netherlands. Its most important visual source, Het groote tafereel der dwaasheid ('The Great Mirror of Folly'), is a series of approximately seventy-five bawdy, tragicomic engravings satirizing the crisis and its catastrophic effects. The visual sources of the series are also explored, including prints related to the earlier 'tulip mania' bubble, as well as related materials including propaganda and satirical pamphlets, letters, coins, and paper currency. Key themes or motifs that recur in the Tafereel prints, include the New World and colonial trade; mass illness; paper and its association with insubstantiality, illusion and trickery; debauchery; and the carnivalesque.
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