Nowhere to Hide: The Great Financial Crisis and Challenges for Asia

Central Banks have become strongly opposed to the idea of accommodating wage demands with the help of monetary easing, but they have been increasingly tolerant, or even supportive, of debt-financed consumption and asset inflation. Indeed, by serving to concentrate wealth further in the hands of a sm...

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Bibliographic Details
Main Authors: Lim Mah-Hui, Michael (Author), Chin, Lim (Author)
Format: Electronic eBook
Language:English
Published: Singapore ISEAS Publishing [2010]
Subjects:
Online Access:DE-859
DE-860
DE-739
DE-473
DE-1046
DE-1043
DE-858
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Summary:Central Banks have become strongly opposed to the idea of accommodating wage demands with the help of monetary easing, but they have been increasingly tolerant, or even supportive, of debt-financed consumption and asset inflation. Indeed, by serving to concentrate wealth further in the hands of a small rentier class, while protecting that class from the risks of debt defaults, they are only adding to systemic pressures that give rise to serious financial crises.   Yilmaz Akyuz, Special Economic Advisor, South Centre, and former Chief Economist at United Nations Conference for Trade and Development
Item Description:Description based on online resource; title from PDF title page (publisher's Web site, viewed 22. Jun 2018)
Physical Description:1 online resource
ISBN:9789814279741
DOI:10.1355/9789814279741

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