The global great recession

The global great recession / E. Ray Canterbery.

Canterbery's latest literary work provides a definitive account of the Great Recession of 2007-2010. It presents an output-employment framework for evaluating the Great Recession. A chapter on the Great Depression provides a basis for comparison while outlining the institutions still intact tha...

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Bibliographic Details
Main Author: Canterbery, E. Ray
Format: eBook
Language:English
Published: Hackensack, N.J. ; London : World Scientific, ©2011.
Subjects:
2008-2009
Global Financial Crisis, 2008-2009.
Financial crises.
Economics > History.
Economics
Financial crises
History
Online Access:Click for online access
Table of Contents:
  • Preface; Chapter 1. At Inception; Chapter 2. The Great Depression; The Prelude to Disaster; The Speculative Bubble; The Great Crash; The Aftermath; GNP and the Downward Trade Spiral; Keynes's Academic Precursors; Keynes's Policy Suggestions; Chapter 3. Primal Keynesianism and the New Deal; The Early New Deal Years; The Famous Keynesian Multiplier; Illusions and the National Income; Money and Uncertainty; Inside and Outside Money Supplies; Interest Rates and Uncertainty Upends the Quantity Theory of Money; Money and the Great Depression; Keynes, Harvard and the Later New Deal Years.
  • Looking ForwardChapter 4. A Post Keynesian Framework; The Income Distribution: Sraffa and Kalecki; Sraffa's Attempted Purge of Marginalism; Kalecki's Income Classes: The Workers and the Capitalists; The Vita View of the Personal Income Distribution; The Price Markup and Prices; The Imperfection of Competition and Kalecki's "Degree of Monopoly"; The Price Markup and the Price Level; Stagflation; Incomes Policy; What to Control? Wages or Profits?; The TIP Proposals; Money and the Financing of Investment; "Inside Money"; The Money Supply and Monetary Policy; Minsky and Financial Fragility.
  • The Global SpectraWhither Economic Growth?; Conclusions; Chapter 5. The Rise of Casino Capitalism; The Federal Reserve's Experiment with Friedman's Monetarism (1979-1982); Supply-Side Economics; The Laffer Curve and the Mantra of the Balanced Budget; The Angst of Insider David Stockman; The Sequel; The Deep Recession of 1981 to 1982; The National Debt Explodes (1980-1992); The Arithmetic of Modern Monetarism in Action; Keynes Redux: Reagan's Ersatz Keynesianism; Casino Capitalism; Private Sector Debt Explodes; Michael Milken Creates the Junk Bond Market; Junk Bonds Lead to LBO Mania.
  • The Bursting of BubblesThe Growing Inequality During the 1980s; A Net Worth Perspective: Where the Money Went; Clintonomics: Continuity with the Federal Reserve; Greenspan and Clinton: An Unholy Alliance; Greenspan's Financial Market Strategy; Public Infrastructure is Sacrificed to Reduce the Federal Budget Deficit; The Clinton Legacy: Ending the Progressive Agenda; The Dramatic Shift from Basic Commodities to Nonbasic Services; Conclusions; Chapter 6. The Housing Bubble Conundrum; How the Fed Can Stimulate Housing Construction and Demand; Alan Greenspan Acts.
  • The Consequences of Asset InflationSpotting a Housing Bubble; Greenspan Gets Smarter as the Bubble Gets Bigger; Defining the Bubble; Greenspan's Innocent Hypocrisy in His Attack on Fannie and Freddie; Summing-Up; Chapter 7. The Anatomy of the Subprime Mortgage Bubble and Collapse; The CDO; The Black-Sholes Model and the Origin of Derivatives; The Role of the Subprime Mortgage; The Credit Default Swap; The Collapse; Collapses Around the World; Chapter 8. The Fallout from the Housing Collapse; In the Beginning; Innovations in Housing; The Subprime Mortgage Mess; Complications from Derivatives.

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