From financial crisis to stagnation: the destruction of shared prosperity and the role of economics
The US 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 tha...
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| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Cambridge
Cambridge University Press
2012
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| Schlagworte: | |
| Online-Zugang: | BSB01 FUBA1 UBG01 Volltext |
| Zusammenfassung: | The US 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 |
| Beschreibung: | Title from publisher's bibliographic system (viewed on 14 Jan 2016) |
| Beschreibung: | 1 Online-Ressource (xvii, 238 Seiten) |
| ISBN: | 9781139061285 |
| DOI: | 10.1017/CBO9781139061285 |
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| 520 | |a The US 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 | ||
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Datensatz im Suchindex
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| discipline | Wirtschaftswissenschaften |
| doi_str_mv | 10.1017/CBO9781139061285 |
| format | Electronic eBook |
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| geographic | USA United States / Economic conditions / 2009- United States / Economic policy |
| geographic_facet | USA United States / Economic conditions / 2009- United States / Economic policy |
| id | DE-604.BV043924822 |
| illustrated | Not Illustrated |
| indexdate | 2024-07-10T07:38:44Z |
| institution | BVB |
| isbn | 9781139061285 |
| language | English |
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| physical | 1 Online-Ressource (xvii, 238 Seiten) |
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| publishDate | 2012 |
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| spelling | Palley, Thomas 1956- Verfasser (DE-588)170470059 aut From financial crisis to stagnation the destruction of shared prosperity and the role of economics Thomas I. Palley Cambridge Cambridge University Press 2012 1 Online-Ressource (xvii, 238 Seiten) txt rdacontent c rdamedia cr rdacarrier Title from publisher's bibliographic system (viewed on 14 Jan 2016) The US 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 Wirtschaft Wirtschaftspolitik Recessions / United States Financial crises / United States Global Financial Crisis, 2008-2009 USA United States / Economic conditions / 2009- United States / Economic policy Erscheint auch als Druck-Ausgabe, Hardcover 978-1-107-01662-0 (DE-604)BV040038798 https://doi.org/10.1017/CBO9781139061285 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Palley, Thomas 1956- From financial crisis to stagnation the destruction of shared prosperity and the role of economics Wirtschaft Wirtschaftspolitik Recessions / United States Financial crises / United States Global Financial Crisis, 2008-2009 |
| title | From financial crisis to stagnation the destruction of shared prosperity and the role of economics |
| title_auth | From financial crisis to stagnation the destruction of shared prosperity and the role of economics |
| title_exact_search | From financial crisis to stagnation the destruction of shared prosperity and the role of economics |
| title_full | From financial crisis to stagnation the destruction of shared prosperity and the role of economics Thomas I. Palley |
| title_fullStr | From financial crisis to stagnation the destruction of shared prosperity and the role of economics Thomas I. Palley |
| title_full_unstemmed | From financial crisis to stagnation the destruction of shared prosperity and the role of economics Thomas I. Palley |
| title_short | From financial crisis to stagnation |
| title_sort | from financial crisis to stagnation the destruction of shared prosperity and the role of economics |
| title_sub | the destruction of shared prosperity and the role of economics |
| topic | Wirtschaft Wirtschaftspolitik Recessions / United States Financial crises / United States Global Financial Crisis, 2008-2009 |
| topic_facet | Wirtschaft Wirtschaftspolitik Recessions / United States Financial crises / United States Global Financial Crisis, 2008-2009 USA United States / Economic conditions / 2009- United States / Economic policy |
| url | https://doi.org/10.1017/CBO9781139061285 |
| work_keys_str_mv | AT palleythomas fromfinancialcrisistostagnationthedestructionofsharedprosperityandtheroleofeconomics |