Fault Lines: How Hidden Fractures Still Threaten the World Economy
Raghuram Rajan was one of the few economists who warned of the global financial crisis before it hit. Now, as the world struggles to recover, it's tempting to blame what happened on just a few greedy bankers who took irrational risks and left the rest of us to foot the bill. In Fault Lines, Raj...
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Princeton, N.J.
Princeton University Press
[2011]
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Ausgabe: | With a New afterword by the author |
Schlagworte: | |
Online-Zugang: | FKE01 FLA01 FHA01 UPA01 FAW01 FAB01 FCO01 Volltext |
Zusammenfassung: | Raghuram Rajan was one of the few economists who warned of the global financial crisis before it hit. Now, as the world struggles to recover, it's tempting to blame what happened on just a few greedy bankers who took irrational risks and left the rest of us to foot the bill. In Fault Lines, Rajan argues that serious flaws in the economy are also to blame, and warns that a potentially more devastating crisis awaits us if they aren't fixed. Rajan shows how the individual choices that collectively brought about the economic meltdown--made by bankers, government officials, and ordinary homeowners--were rational responses to a flawed global financial order in which the incentives to take on risk are incredibly out of step with the dangers those risks pose. He traces the deepening fault lines in a world overly dependent on the indebted American consumer to power global economic growth and stave off global downturns. He exposes a system where America's growing inequality and thin social safety net create tremendous political pressure to encourage easy credit and keep job creation robust, no matter what the consequences to the economy's long-term health; and where the U.S. financial sector, with its skewed incentives, is the critical but unstable link between an overstimulated America and an underconsuming world. In Fault Lines, Rajan demonstrates how unequal access to education and health care in the United States puts us all in deeper financial peril, even as the economic choices of countries like Germany, Japan, and China place an undue burden on America to get its policies right. He outlines the hard choices we need to make to ensure a more stable world economy and restore lasting prosperity |
Beschreibung: | Description based on online resource; title from PDF title page (publisher’s Web site, viewed October 27 2015) |
Beschreibung: | 1 online resource (280 pages) illustrations |
ISBN: | 9781400839803 |
DOI: | 10.1515/9781400839803 |
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Datensatz im Suchindex
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author | Rajan, Raghuram G. |
author_facet | Rajan, Raghuram G. |
author_role | aut |
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doi_str_mv | 10.1515/9781400839803 |
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geographic | USA USA (DE-588)4078704-7 gnd |
geographic_facet | USA |
id | DE-604.BV043867616 |
illustrated | Illustrated |
indexdate | 2024-07-10T07:37:11Z |
institution | BVB |
isbn | 9781400839803 |
language | English |
oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-029277554 |
oclc_num | 1165474152 |
open_access_boolean | |
owner | DE-859 DE-860 DE-Aug4 DE-739 DE-1046 DE-1043 DE-858 |
owner_facet | DE-859 DE-860 DE-Aug4 DE-739 DE-1046 DE-1043 DE-858 |
physical | 1 online resource (280 pages) illustrations |
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publishDate | 2011 |
publishDateSearch | 2011 |
publishDateSort | 2011 |
publisher | Princeton University Press |
record_format | marc |
spelling | Rajan, Raghuram G. aut Fault Lines How Hidden Fractures Still Threaten the World Economy Raghuram G. Rajan With a New afterword by the author Princeton, N.J. Princeton University Press [2011] © 2011 1 online resource (280 pages) illustrations txt rdacontent c rdamedia cr rdacarrier Description based on online resource; title from PDF title page (publisher’s Web site, viewed October 27 2015) Raghuram Rajan was one of the few economists who warned of the global financial crisis before it hit. Now, as the world struggles to recover, it's tempting to blame what happened on just a few greedy bankers who took irrational risks and left the rest of us to foot the bill. In Fault Lines, Rajan argues that serious flaws in the economy are also to blame, and warns that a potentially more devastating crisis awaits us if they aren't fixed. Rajan shows how the individual choices that collectively brought about the economic meltdown--made by bankers, government officials, and ordinary homeowners--were rational responses to a flawed global financial order in which the incentives to take on risk are incredibly out of step with the dangers those risks pose. He traces the deepening fault lines in a world overly dependent on the indebted American consumer to power global economic growth and stave off global downturns. He exposes a system where America's growing inequality and thin social safety net create tremendous political pressure to encourage easy credit and keep job creation robust, no matter what the consequences to the economy's long-term health; and where the U.S. financial sector, with its skewed incentives, is the critical but unstable link between an overstimulated America and an underconsuming world. In Fault Lines, Rajan demonstrates how unequal access to education and health care in the United States puts us all in deeper financial peril, even as the economic choices of countries like Germany, Japan, and China place an undue burden on America to get its policies right. He outlines the hard choices we need to make to ensure a more stable world economy and restore lasting prosperity In English Geschichte 2008-2009 gnd rswk-swf Business Economic history Finanzkrise Global Financial Crisis, 2008-2009 Income distribution Inkomensverdeling Internationale economie Kredietcrisis (2008-) Political Science, other Political Science Schulden Sociaal-economisch beleid Social history Social Sciences Wirtschaft Geschichte Sozialgeschichte Wirtschaft. Geschichte BUSINESS & ECONOMICS Economic History Economic history 21st century Income distribution United States History 21st century Weltwirtschaftskrise (DE-588)4065471-0 gnd rswk-swf Reform (DE-588)4115716-3 gnd rswk-swf Ursache (DE-588)4062163-7 gnd rswk-swf Finanzkrise (DE-588)7635855-0 gnd rswk-swf Weltwirtschaft (DE-588)4065468-0 gnd rswk-swf USA USA (DE-588)4078704-7 gnd rswk-swf USA (DE-588)4078704-7 g Finanzkrise (DE-588)7635855-0 s Ursache (DE-588)4062163-7 s Weltwirtschaft (DE-588)4065468-0 s Reform (DE-588)4115716-3 s 1\p DE-604 Weltwirtschaftskrise (DE-588)4065471-0 s Geschichte 2008-2009 z 2\p DE-604 https://doi.org/10.1515/9781400839803 Verlag URL des Erstveröffentlichers Volltext 1\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk 2\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk |
spellingShingle | Rajan, Raghuram G. Fault Lines How Hidden Fractures Still Threaten the World Economy Business Economic history Finanzkrise Global Financial Crisis, 2008-2009 Income distribution Inkomensverdeling Internationale economie Kredietcrisis (2008-) Political Science, other Political Science Schulden Sociaal-economisch beleid Social history Social Sciences Wirtschaft Geschichte Sozialgeschichte Wirtschaft. Geschichte BUSINESS & ECONOMICS Economic History Economic history 21st century Income distribution United States History 21st century Weltwirtschaftskrise (DE-588)4065471-0 gnd Reform (DE-588)4115716-3 gnd Ursache (DE-588)4062163-7 gnd Finanzkrise (DE-588)7635855-0 gnd Weltwirtschaft (DE-588)4065468-0 gnd |
subject_GND | (DE-588)4065471-0 (DE-588)4115716-3 (DE-588)4062163-7 (DE-588)7635855-0 (DE-588)4065468-0 (DE-588)4078704-7 |
title | Fault Lines How Hidden Fractures Still Threaten the World Economy |
title_auth | Fault Lines How Hidden Fractures Still Threaten the World Economy |
title_exact_search | Fault Lines How Hidden Fractures Still Threaten the World Economy |
title_full | Fault Lines How Hidden Fractures Still Threaten the World Economy Raghuram G. Rajan |
title_fullStr | Fault Lines How Hidden Fractures Still Threaten the World Economy Raghuram G. Rajan |
title_full_unstemmed | Fault Lines How Hidden Fractures Still Threaten the World Economy Raghuram G. Rajan |
title_short | Fault Lines |
title_sort | fault lines how hidden fractures still threaten the world economy |
title_sub | How Hidden Fractures Still Threaten the World Economy |
topic | Business Economic history Finanzkrise Global Financial Crisis, 2008-2009 Income distribution Inkomensverdeling Internationale economie Kredietcrisis (2008-) Political Science, other Political Science Schulden Sociaal-economisch beleid Social history Social Sciences Wirtschaft Geschichte Sozialgeschichte Wirtschaft. Geschichte BUSINESS & ECONOMICS Economic History Economic history 21st century Income distribution United States History 21st century Weltwirtschaftskrise (DE-588)4065471-0 gnd Reform (DE-588)4115716-3 gnd Ursache (DE-588)4062163-7 gnd Finanzkrise (DE-588)7635855-0 gnd Weltwirtschaft (DE-588)4065468-0 gnd |
topic_facet | Business Economic history Finanzkrise Global Financial Crisis, 2008-2009 Income distribution Inkomensverdeling Internationale economie Kredietcrisis (2008-) Political Science, other Political Science Schulden Sociaal-economisch beleid Social history Social Sciences Wirtschaft Geschichte Sozialgeschichte Wirtschaft. Geschichte BUSINESS & ECONOMICS Economic History Economic history 21st century Income distribution United States History 21st century Weltwirtschaftskrise Reform Ursache Weltwirtschaft USA |
url | https://doi.org/10.1515/9781400839803 |
work_keys_str_mv | AT rajanraghuramg faultlineshowhiddenfracturesstillthreatentheworldeconomy |