Lost Decades: The Making of America's Debt Crisis and the Long Recovery
| Author | : | |
| Rating | : | 4.76 (682 Votes) |
| Asin | : | 039334410X |
| Format Type | : | paperback |
| Number of Pages | : | 304 Pages |
| Publish Date | : | 2017-03-23 |
| Language | : | English |
DESCRIPTION:
. Chinn teaches at the University of Wisconsin, Madison, and coauthors the influential blog Econbrowser.Jeffry A. Frieden is Professor of Government at Harvard University. Frieden is the author of Currency Politics: The Political Economy of Exchange Rate Politics and (with Menzie Chinn) of Lost Decades: The Making of America’s Debt Crisis and the Long Recovery. His articles
The proportion of foreign loans to the size of the economy put the United States in league with Mexico, Indonesia, and other third-world debtor nations. The massive inflow of foreign funds financed the booms in housing prices and consumer spending that fueled the economy until the collapse of late 2008. A clear, authoritative guide to the crisis of 2008, its continuing repercussions, and the needed reforms ahead.The U.S. How did this happen? Read this lucid explanation of the origins and long-term effects of the recent financial crisis, drawn in historical and comparative perspective by two leading political economists.By 2008 the United States had become the biggest international borrower in world history, with more than two-thirds of its $6 trillion federal debt in foreign hands. They show that the crisis was foreseen by many and was avoidable through appropriate policy measures. It is in danger of losing another decade to the stagnation of an incomplete recovery. They examine the continuing impact of our huge debt on the continuing slow recovery from the recession. They explore the political strategies behind the Bush administration’s policy of funding massive deficits with foreign borrowing. Lost Decades will long be regarded as the standard account of the crisis and its aftermath.. economy lost the first decade of the twenty-first century to an ill-conceived boom and subsequent bust. This was the most serious international econom
Rajan, Booth School of Business, University of Chicago"You will not read a better political-economic synthesis of America s financial crisis than this book. --Simon Johnson, MIT, co-author of 13 Bankers"This wonderful book by two leading political economists identifies the roots of the recent financial crisis and the deep recession that followed, but more important, tells us what awaits us if we do not fix the underlying problems. --Raghuram G. --Dani Rodrik, author of The Globalization Paradox"An intelligent, vivid, and accessible account of the first great crisis of the 21st century. --Jon Rosen"An important bo
Good first book on the crisis but missing major component. I thought this was a pretty clear, well articulated book by two academics [an economist and a political scientist] explaining broadly what caused America to go down a series of wrong turns. It reads quite well for a book written by academics and its easily possible to read it in one sitting if you have 8 or so hours lying around [like on a plane].But there are a number of problems with the book, that if you have read other 'economic crisis porn', quickly jump at you. First, when discussing the 'shadow bankin. Good Perspectives and Background The 2001 and 2003 tax cuts during the Bush administration, combined with increased spending for the Iraq and Afghanistan wars and the new Medicare drug benefit, resulted in the largest and fastest fiscal deficit turnaround in 'peacetime' history. (That effort grew out of the 2001 recession and dot-com bubble.) Alan Greenspan, Federal Reserve Chairman at the time, played a very harmful role by supporting the 2001 tax cuts, giving political cover for the Bush administration claims that the tax cuts wold be sel. A 10,000 ft. overview of the economics of what happened during the 2000 - 2009 economic collapse When I finished reading the first chapter I knew I would read the entire book.They point out the economics of what happened during the sub prime mortgage build up and collapse, the affect of two wars with no tax increases to pay for them, the two tax reductions for the benefit of wealthy wage earners, the saving of the 'too big to fail' financial organizations (the pros and cons), where the borrowed money came from, the historical precedents of when other countries have had this same situation, some of the p