Freefall: America, Free Markets, and the Sinking of the World Economy

Etukansi
W. W. Norton & Company, 2010 - 361 sivua
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An incisive look at the global economic crisis, our flawed response, and the implications for the world’s future prosperity.

The Great Recession, as it has come to be called, has impacted more people worldwide than any crisis since the Great Depression. Flawed government policy and unscrupulous personal and corporate behavior in the United States created the current financial meltdown, which was exported across the globe with devastating consequences. The crisis has sparked an essential debate about America’s economic missteps, the soundness of this country’s economy, and even the appropriate shape of a capitalist system.

Few are more qualified to comment during this turbulent time than Joseph E. Stiglitz. Winner of the 2001 Nobel Prize in Economics, Stiglitz is “an insanely great economist, in ways you can’t really appreciate unless you’re deep into the field” (Paul Krugman, New York Times). In Freefall, Stiglitz traces the origins of the Great Recession, eschewing easy answers and demolishing the contention that America needs more billion-dollar bailouts and free passes to those “too big to fail,” while also outlining the alternatives and revealing that even now there are choices ahead that can make a difference. The system is broken, and we can only fix it by examining the underlying theories that have led us into this new “bubble capitalism.”

Ranging across a host of topics that bear on the crisis, Stiglitz argues convincingly for a restoration of the balance between government and markets. America as a nation faces huge challenges—in health care, energy, the environment, education, and manufacturing—and Stiglitz penetratingly addresses each in light of the newly emerging global economic order. An ongoing war of ideas over the most effective type of capitalist system, as well as a rebalancing of global economic power, is shaping that order. The battle may finally give the lie to theories of a “rational” market or to the view that America’s global economic dominance is inevitable and unassailable.

For anyone watching with indignation while a reckless Wall Street destroyed homes, educations, and jobs; while the government took half-steps hoping for a “just-enough” recovery; and while bankers fell all over themselves claiming not to have seen what was coming, then sought government bailouts while resisting regulation that would make future crises less likely, Freefall offers a clear accounting of why so many Americans feel disillusioned today and how we can realize a prosperous economy and a moral society for the future.
 

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LibraryThing Review

Käyttäjän arvio  - sarahlh - LibraryThing

So glad I finally took the time to read this book. It is a clear and concise look at the current economic disaster as well as what forces caused it and what we should have done to make the aftershocks ... Lue koko arvostelu

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Käyttäjän arvio  - nivramkoorb - LibraryThing

This book along with "The Price of Civilization" by Jeffrey Sachs put our current economic situation in an excellent historical perspective. It lays out what has gone wrong with unregulated(or lightly ... Lue koko arvostelu

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Sisältö

FREEEALL AND ITS AETERMATH
27
Chapter 3
57
Chapter 5
76
THE GREAT AMERICAN ROBBERY
109
AVARIcE TRIUMPHs OVER PRUDENcE
147
A NEW CAPITALIsT ORDER
184
FROM GLOBAL RECOVERY
210
REFORMING EcONOMIcs
238
TOWARD A NEW SOCIETY
275
NOTEs
299
Chapter 4
360
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Tietoja kirjailijasta (2010)

Joseph E. Stiglitz is a Nobel Prize-winning economist and the best-selling author of Globalization and Its Discontents Revisited: Anti- Globalization in the Age of Trump, The Price of Inequality, and Freefall. He was chairman of the Council of Economic Advisers under President Clinton, chief economist of the World Bank, named by Time as one of the 100 most influential individuals in the world, and now teaches at Columbia University and is chief economist of the Roosevelt Institute.

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