Why our addiction to debt caused the global financial crisis and is the root of our financial woes
Adair Turner became chairman of Britain's Financial Services Authority just as the global financial crisis struck in 2008, and he played a leading role in redesigning global financial regulation. In this eye-opening book, he sets the record straight about what really caused the crisis. It didn't happen because banks are too big to fail--our addiction to private debt is to blame.
Between Debt and the Devil challenges the belief that we need credit growth to fuel economic growth, and that rising debt is okay as long as inflation remains low. In fact, most credit is not needed for economic growth--but it drives real estate booms and busts and leads to financial crisis and depression. Turner explains why public policy needs to manage the growth and allocation of credit creation, and why debt needs to be taxed as a form of economic pollution. Banks need far more capital, real estate lending must be restricted, and we need to tackle inequality and mitigate the relentless rise of real estate prices. Turner also debunks the big myth about fiat money--the erroneous notion that printing money will lead to harmful inflation. To escape the mess created by past policy errors, we sometimes need to monetize government debt and finance fiscal deficits with central-bank money.
Between Debt and the Devil shows why we need to reject the assumptions that private credit is essential to growth and fiat money is inevitably dangerous. Each has its advantages, and each creates risks that public policy must consciously balance.
Автор: Hendy, Michael F. Название: Studies in the byzantine monetary economy c.300-1450 ISBN: 0521088526 ISBN-13(EAN): 9780521088527 Издательство: Cambridge Academ Рейтинг: Цена: 6018.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: This is a major study of the Byzantine coinage set in the wider context of finance, administration and economy. The book consists of four main sections, on economy and society, on finance, and on the circulation and production of coinage, and has made an unrivalled contribution in the field of late classical, Byzantine and medieval economic history.
Автор: Vegh Carlos A Название: Open Economy Macroeconomics in Developing Countries ISBN: 026201890X ISBN-13(EAN): 9780262018906 Издательство: MIT Press Рейтинг: Цена: 17775.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание:
A comprehensive and rigorous text that shows how a basic open economy model can be extended to answer important macroeconomic questions that arise in emerging markets.
This rigorous and comprehensive textbook develops a basic small open economy model and shows how it can be extended to answer many important macroeconomic questions that arise in emerging markets and developing economies, particularly those regarding monetary, fiscal, and exchange rate issues. Eschewing the complex calibrated models on which the field of international finance increasingly relies, the book teaches the reader how to think in terms of simple models and grasp the fundamentals of open economy macroeconomics.
After analyzing the standard intertemporal small open economy model, the book introduces frictions such as imperfect capital markets, intertemporal distortions, and nontradable goods, into the basic model in order to shed light on the economy's response to different shocks. The book then introduces money into the model to analyze the real effects of monetary and exchange rate policy. It then applies these theoretical tools to a variety of important macroeconomic issues relevant to developing countries (and, in a world of continuing financial crisis, to industrial countries as well), including the use of a nominal interest rate as a main policy instrument, the relative merits of flexible and predetermined exchange rate regimes, and the targeting of "real anchors." Finally, the book analyzes in detail specific topics such as inflation stabilization, "dollarization," balance of payments crises, and, inspired by recent events, financial crises. Each chapter includes boxes with relevant empirical evidence and ends with exercises. The book is suitable for use in graduate courses in development economics, international finance, and macroeconomics.
Автор: Kornai, Janos Название: The Socialist System: The Political Economy of Socialism ISBN: 0198287763 ISBN-13(EAN): 9780198287766 Издательство: Oxford Academ Рейтинг: Цена: 9185.00 р. Наличие на складе: Поставка под заказ.
Описание: A comprehensive account of the structure, conduct, and performance of the centrally planned economies of Eastern Europe, the USSR, Communist China and the Marxist LDCs, looking at 26 nations in all.
Автор: Maddison, Angus Название: Contours of the World Economy 1-2030 AD ISBN: 0199227209 ISBN-13(EAN): 9780199227204 Издательство: Oxford Academ Рейтинг: Цена: 8395.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: Written by a pioneer in the quantitative and macroeconomic analysis of economic history, this book combines qualitative histories with quantitative data. It also seeks a new understanding of the forces of economic growth and development by taking the ultimate long view - the whole of the last millennium - and looking to the future.
Автор: Eichengreen, Barry; Park, Yung Chul; Wyplosz, Char Название: China, Asia, and the New World Economy ISBN: 0199235899 ISBN-13(EAN): 9780199235896 Издательство: Oxford Academ Рейтинг: Цена: 3485.00 р. Наличие на складе: Поставка под заказ.
Описание: This timely collection of fifteen essays by leading economists explores how rapid economic growth in China and elsewhere in Asia is reshaping the world economy.
Автор: Lavigne Название: The Soviet Union and Eastern Europe in the Global Economy ISBN: 0521172357 ISBN-13(EAN): 9780521172356 Издательство: Cambridge Academ Рейтинг: Цена: 4909.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: In this 1992 volume, leading international political economists provide an in-depth analysis of why the Soviet Union and Eastern Europe are moving away from a centrally planned economy toward integration within the global economy and examine how they overcome their development lag and implement a restructuring policy.
Автор: Beenstock Название: The World Economy in Transition (Routledge Revivals) ISBN: 0415682398 ISBN-13(EAN): 9780415682398 Издательство: Taylor&Francis Рейтинг: Цена: 20671.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: First published in 1984, Michael Beenstock develops in The World Economy in Transition an original, stimulating and accessible analysis of the world economy.
Автор: Crump Название: The Phenomenon of Money (Routledge Revivals) ISBN: 0415611873 ISBN-13(EAN): 9780415611879 Издательство: Taylor&Francis Рейтинг: Цена: 27562.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: First published in 1981, this book concerns itself with the different ways in which money is used, the relationships which then arise, and the institutions concerned in maintaining its various functions.
Автор: Harbury Название: Economic Behaviour (Routledge Revivals) ISBN: 0415679117 ISBN-13(EAN): 9780415679114 Издательство: Taylor&Francis Рейтинг: Цена: 22968.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: First published in 1980, Economic Behaviour: An Introduction has been written specifically to speed up the settling-in process of students new to the subject of economics.
Автор: Foster Название: Evolutionary Macroeconomics (Routledge Revivals) ISBN: 0415679249 ISBN-13(EAN): 9780415679244 Издательство: Taylor&Francis Рейтинг: Цена: 27562.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: First published in 1987, Evolutionary Macroeconomics offers an evolutionary approach to macroeconomics as an alternative to contemporary new classical and Keynesian macroeconomics.
Автор: Kurihara Название: National Income and Economic Growth (Routledge Revivals) ISBN: 0415682371 ISBN-13(EAN): 9780415682374 Издательство: Taylor&Francis Рейтинг: Цена: 22968.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: First published in 1961, Kenneth K. Kurihara`s National Income and Economic Growth makes a pioneering effort to integrate national income accounting, income-employment theory and growth analysis as a unified whole.
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