Freefall America Free Markets And The Sinking Of The World Economy

Download or read book Freefall: America, Free Markets, and the Sinking of the World Economy written by Joseph E. Stiglitz and published by W. W. Norton & Company. This book was released on 2010-10-04 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Freefall: America, Free Markets, and the Sinking of the World Economy written by Joseph E. Stiglitz and published by W. W. Norton & Company. This book was released on 2010 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: Nobel Prize-winner Stiglitz explains the current financial crisis--and the coming global economic order.

Download or read book Freefall written by Joseph Stiglitz and published by Penguin UK. This book was released on 2015-09-24 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt: Out of the crisis of our times, Joseph Stiglitz's Freefall: Free Markets and the Sinking of the Global Economy is a convincing, coherent and humane account that goes to the heart of how we run our societies. When the world economy went into freefall, so too did our unquestioning faith in markets. But what happens now? Are bailouts and stern lectures enough, or do we need a rethink of our entire financial system? This acclaimed and inspiring book, by one of the world's leading economic thinkers, dissects the flawed ideas that led to the credit crunch, but also looks to the future. Drawing on his years spent shaping policy at the World Bank, Nobel Laureate Joseph Stiglitz shows why far more radical reforms are needed to avoid future crises, why the cost of recovery should be borne by the financial sector, and how we now have the opportunity to create a new global economic order. 'Bang on the money ... unafraid to ask tough questions ... we need more of his ilk' Will Hutton, Observer 'A brilliant analysis ... always enthralling' Martin Jacomb, Spectator Business 'A powerful new book' Devin Leonard, The New York Times 'A seer of almost Keynesian proportions ... this is Joe Stiglitz's victory lap' Michael Hirsh, Newsweek Joseph Stiglitz was Chief Economist at the World Bank until January 2000. He is currently University Professor of the Columbia Business School and Chair of the Management Board and Director of Graduate Summer Programs, Brooks World Poverty Institute, University of Manchester. He won the Nobel Prize for Economics in 2001 and is the author of the best-selling Globalization and Its Discontents, Making Globalization Work, The Roaring Nineties and The Price of Inequality, all published by Penguin.

Download or read book The Quest for Security written by Joseph Stiglitz and published by Columbia University Press. This book was released on 2013-04-30 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt: Some have suggested that the turmoil in the eurozone "proves" the deficiencies in the welfare state. This book argues that the superior performance of the Scandinavian countries arises from their superior systems of social protection, which allow their citizens to undertake greater risk and more actively participate in globalization. Others suggest that we can address terrorism or transnational crimes through the strengthening of borders or long distance wars. This book develops the proposition that such approaches have the opposite effect and that only through spreading the kind of human security experienced in well-ordered societies can these dangers be managed. This book also examines how these global changes play out not only in the relations among countries and the management of globalization but at every level of our society--

Download or read book The Financial Crisis and the Free Market Cure: Why Pure Capitalism is the World Economy's Only Hope written by John A. Allison and published by McGraw Hill Professional. This book was released on 2012-09-21 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: The #1 Wall Street Journal Bestseller “Required reading. . . . Shows how our economic crisis was a failure, not of the free market, but of government.” —Charles Koch, Chairman and CEO, Koch Industries, Inc. Did Wall Street cause the mess we are in? Should Washington place stronger regulations on the entire financial industry? Can we lower unemployment rates by controlling the free market? The answer is NO. Not only is free market capitalism good for the economy, says industry expert John Allison, it is our only hope for recovery. As the nation’s longest-serving CEO of a top-25 financial institution, Allison has had a unique inside view of the events leading up to the financial crisis. He has seen the direct effect of government incentives on the real estate market. He has seen how government regulations only make matters worse. And now, in this controversial wake-up call of a book, he has given us a solution. The national bestselling The Financial Crisis and the Free Market Cure reveals: Why regulation is bad for the market—and for the world What we can do to promote a healthy free market How we can help end unemployment in America The truth about TARP and the bailouts How Washington can help Wall Street build a better future for everyone With shrewd insight, alarming insider details, and practical advice for today’s leaders, this electrifying analysis is nothing less than a call to arms for a nation on the brink. You’ll learn how government incentives helped blow up the real estate bubble to unsustainable proportions, how financial tools such as derivatives have been wrongly blamed for the crash, and how Congress fails to understand it should not try to control the market—and then completely mismanages it when it tries. In the end, you’ll understand why it’s so important to put “free” back in free market. It’s time for America to accept the truth: the government can’t fix the economy because the government wrecked the economy. This book gives us the tools, the inspiration—and the cure.

Download or read book Rewriting the Rules of the European Economy: An Agenda for Growth and Shared Prosperity written by Joseph E. Stiglitz and published by W. W. Norton & Company. This book was released on 2020-01-28 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt: A companion to his acclaimed work in Rewriting the Rules of the American Economy, Joseph E. Stiglitz, along with Carter Dougherty and the Foundation for European Progressive Studies, lays out the economic framework for a Europe with faster growth that is more equitably shared. Europe is in crisis. Sluggish economic growth in many countries, widespread income stagnation, and recession have led to severe political and social consequences. Social protections for citizens have been cut back. Governments offer timid responses to deep-seated problems. These economic and political failures have contributed to the rise of extremist parties on the right. Marginalized populations are being made scapegoats for Europe’s woes. But the problems of today’s Europe stem from decisions based on a blind worship of markets in too many areas of policy. If Europe is to return to an innovative and dynamic economy—and if there is to be shared prosperity, social solidarity, and justice—then EU countries need to break with their current, destructive trajectory. This volume offers concrete strategies for renewal that would also reinvigorate the project of European integration, with fresh ideas in the areas of both macroeconomics and microeconomics, including central banking, public investment, corporate governance and competition policy, social policy, and international trade.

Download or read book Making Globalization Work written by Joseph E. Stiglitz and published by W. W. Norton & Company. This book was released on 2007-08-28 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: Nobel Prize winner Stiglitz focuses on policies that truly work and offers fresh, new thinking about the questions that shape the globalization debate.