The financial crisis[electronic reso...
Arestis, Philip, (1941-)

 

  • The financial crisis[electronic resource] :origins and implications /
  • Record Type: Language materials, printed : Monograph/item
    [NT 15000414]: 330.9/0511
    Title/Author: The financial crisis : origins and implications // edited by Philip Arestis, Rog�erio Sobreira and Jos�e Luis Oreiro.
    other author: Arestis, Philip,
    Published: Houndmills, Basingstoke ; : Palgrave Macmillan,, 2011.
    Description: 1 online resource (xiii, 268 p.) : : ill.
    Subject: Global Financial Crisis, 2008-2009.
    Subject: Financial crises - History.
    Subject: International finance.
    Subject: BUSINESS & ECONOMICS - Economic History.
    ISBN: 9780230303942 (electronic bk.)
    ISBN: 0230303943 (electronic bk.)
    ISBN: 9780230306912 (e-book)
    ISBN: 0230306918 (e-book)
    [NT 15000227]: Includes bibliographical references and index.
    [NT 15000228]: Introduction -- The Lessons from the Current Crisis for Macro-theory and Policy -- The Conventional Views of the Global Crisis: A Critical Assessment -- The Global Crisis and the Governance of Power in Finance -- Income distribution and borrowing. -- Growth and financial balances in the U.S. economy -- Re-structuring the financial sector to reduce its burden on the economy -- Regulate Financial Systems, or Financial Institutions? -- Institutional Investment and Financial Regulation: An International Comparison -- Rethinking the Lending of Last Resort Function: -- A Historical and Contemporary Perspective -- The Necessity of Reforming the International Monetary System -- Neoliberalism, Income Distribution and the Causes of the Crisis.
    [NT 15000229]: The 2008 financial crisis poses three fundamental questions for economists and policy makers; understanding the origins of the crisis, understanding the consequences of this crisis for the world economy, and finally understanding why the 2008 financial crisis is not as serious as the 1929 crisis. The prevailing view is that the 2008 financial crisis was solely the result of inadequate financial regulation together with a very loose monetary policy conducted by central banks, especially the Fed. It is believed that this crisis is a temporary detour in the normal course of the events, so that in the near future capitalist economies will resume the high growth path observed before the crisis. In terms of the third question, there is a widespread view that the fundamental reason that explains the avoidance of the harmful experiences of 1929 was the fiscal and monetary policy expansions in developed countries. No important role is assigned to developing countries in terms of the effects of the financial crisis. This book challenges the prevailing orthodoxy surrounding the origins and the consequences of the 2008 financial crisis. The book demonstrates that measures in addition to a profound change in the financial regulation are required if a new financial crisis is to be avoided in the future, measures include: a change in the conduct of economic policy; a reform of the national and international monetary systems; and a radical change in the pattern of income distribution. This book is essential reading for all interested in macroeconomics, monetary policy, development economics and the global impact of the financial crisis.
    Online resource: An electronic book accessible through the World Wide Web; click for information
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