The Economics of Global Turbulence

The Economics of Global Turbulence
Author: Robert Brenner
Publisher: Verso
Total Pages: 412
Release: 2006-08-17
Genre: Business & Economics
ISBN: 9781859847305

A commanding survey of the world economy from 1950 to the present, from the author of the acclaimed The Boom and the Bubble.

Economic Turbulence

Economic Turbulence
Author: Clair Brown
Publisher: University of Chicago Press
Total Pages: 211
Release: 2008-09-15
Genre: Business & Economics
ISBN: 0226076342

Every day, in every sector of our economy, a business shuts down while another starts up, jobs are created while others are cut, and workers are hired while others are laid off. This constant flux, or turbulence, is a defining characteristic of our free market system, yet it mostly inspires angst about unemployment, loss of earnings, and the overall competitiveness of corporations. But is this endless cycle of fluctuation really so bad for America? Might something positive be going on in the economy as a result of it? In this penetrating work, three esteemed economists seek to answer these questions by exploring the real impact of volatility on American workers and businesses alike. According to the authors, while any number of events--shifts in consumer demand, changes in technology, mergers and acquisitions, or increased competition--can contribute to economic turbulence, our economy as a whole is, by and large, stronger for it, because these processes of creation and destruction make it more flexible and adaptable. The authors also acknowledge and document the adverse consequences of this turbulence on different groups of workers and firms and discuss the resulting policy challenges. Basing their argument on an up-close look into the dealings and practices of five key industries—financial services, retail food services, trucking, semiconductors, and software—the authors demonstrate the positive effects of turbulence on career paths, employee earnings, and firm performance. The first substantial attempt to disentangle and make clear the complexities of this phenomenon in the United States, Economic Turbulence will be viewed as a major achievement and the centerpiece of any discussion on the subject for years to come.

Global Slump

Global Slump
Author: David McNally
Publisher: PM Press
Total Pages: 289
Release: 2010-12-09
Genre: Business & Economics
ISBN: 1604860650

Global Slump analyzes the global financial meltdown as the first systemic crisis of the neoliberal stage of capitalism. It argues that—far from having ended—the crisis has ushered in a whole period of worldwide economic and political turbulence. In developing an account of the crisis as rooted in fundamental features of capitalism, Global Slump challenges the view that its source lies in financial deregulation. The book locates the recent meltdown in the intense economic restructuring that marked the recessions of the mid-1970s and early 1980s. Through this lens, it highlights the emergence of new patterns of world inequality and new centers of accumulation, particularly in East Asia, and the profound economic instabilities these produced. Global Slump offers an original account of the “financialization” of the world economy during this period, and explores the intricate connections between international financial markets and new forms of debt and dispossession, particularly in the Global South. Analyzing the massive intervention of the world’s central banks to stave off another Great Depression, Global Slump shows that, while averting a complete meltdown, this intervention also laid the basis for recurring crises for poor and working class people: job loss, increased poverty and inequality, and deep cuts to social programs. The book takes a global view of these processes, exposing the damage inflicted on countries in the Global South, as well as the intensification of racism and attacks on migrant workers. At the same time, Global Slump also traces new patterns of social and political resistance—from housing activism and education struggles, to mass strikes and protests in Martinique, Guadeloupe, France and Puerto Rico—as indicators of the potential for building anti-capitalist opposition to the damage that neoliberal capitalism is inflicting on the lives of millions.

The Seven Secrets of Germany

The Seven Secrets of Germany
Author: David B. Audretsch
Publisher: Oxford University Press
Total Pages: 245
Release: 2016
Genre: Business & Economics
ISBN: 0190258691

Europe and much of the developed world have been bogged down by stagnant economic growth and alarmingly high rates of unemployment. But not Germany. This book reveals seven key aspects of the German economy and society that have provided considerable buoyance in an era of global turbulence.

Turbulence and Order in Economic Development

Turbulence and Order in Economic Development
Author: Hazel Gray
Publisher: Oxford University Press
Total Pages: 349
Release: 2018-02-08
Genre: Business & Economics
ISBN: 0192548018

The terms of debate on the role of institutions in economic development are changing. Stable market institutions, in particular, secure private property rights and democratically accountable governments that uphold the rule of law, are widely seen to be a pre-requisite for economic transformation in low income countries, yet over the last thirty years, economic growth and structural transformation has surged forward in a range of countries where market and state institutions have differed these ideals, as well as from each other. Turbulence and Order in Economic Development studies the role of the state in two such countries, examining the interplay between market liberalization, institutions, and the distribution of power in Tanzania and Vietnam. Tanzania and Vietnam were two of the poorest countries in the world in the early 1980s but over the last thirty years, both have experienced significant changes in the pace and character of economic development. While both countries experienced faster rates of GDP growth, their paths of economic transformation were very different as Vietnam experienced rapid poverty reduction associated with the expansion of manufacturing while Tanzania's path of industrialization was characterized by the rise of mining and a much slower pace of poverty reduction. Employing a political settlements approach, this book considers the comparative role of the state in driving economic transformation. In both countries, the experiences of socialism continued to shape the role of the state in the economy even after extensive market liberalization, however, the distribution of political and economic power was very different. This had important consequences for the overlapping role of the state in generating political order and in driving economic transformation. Turbulence and Order in Economic Development studies the formal and informal ways that the state influenced economic transformation through its role in public financial management, land and industrial policy.

Karl Polanyi

Karl Polanyi
Author: Gareth Dale
Publisher: Polity
Total Pages: 320
Release: 2010-06-21
Genre: Business & Economics
ISBN: 0745640710

Karl Polanyi’s The Great Transformation is generally acclaimed as being among the most influential works of economic history in the twentieth century, and remains as vital in the current historical conjuncture as it was in his own. In its critique of nineteenth-century ‘market fundamentalism’ it reads as a warning to our own neoliberal age, and is widely touted as a prophetic guidebook for those who aspire to understand the causes and dynamics of global economic turbulence at the end of the 2000s. Karl Polanyi: The Limits of the Market is the first comprehensive introduction to Polanyi’s ideas and legacy. It assesses not only the texts for which he is famous – prepared during his spells in American academia – but also his journalistic articles written in his first exile in Vienna, and lectures and pamphlets from his second exile, in Britain. It provides a detailed critical analysis of The Great Transformation, but also surveys Polanyi’s seminal writings in economic anthropology, the economic history of ancient and archaic societies, and political and economic theory. Its primary source base includes interviews with Polanyi’s daughter, Kari Polanyi-Levitt, as well as the entire compass of his own published and unpublished writings in English and German. This engaging and accessible introduction to Polanyi’s thinking will appeal to students and scholars across the social sciences, providing a refreshing perspective on the roots of our current economic crisis.

The Age of Turbulence

The Age of Turbulence
Author: Alan Greenspan
Publisher: Penguin
Total Pages: 612
Release: 2008-09-09
Genre: Biography & Autobiography
ISBN: 9780143114161

From the bestselling author of The Map and the Territory and Capitalism in America The Age Of Turbulence is Alan Greenspan’s incomparable reckoning with the contemporary financial world, channeled through his own experiences working in the command room of the global economy longer and with greater effect than any other single living figure. Following the arc of his remarkable life’s journey through his more than eighteen-year tenure as chairman of the Federal Reserve Board to the present, in the second half of The Age of Turbulence Dr. Greenspan embarks on a magnificent tour d’horizon of the global economy. The distillation of a life’s worth of wisdom and insight into an elegant expression of a coherent worldview, The Age of Turbulence will stand as Alan Greenspan’s personal and intellectual legacy.

The Boom and the Bubble

The Boom and the Bubble
Author: Robert Brenner
Publisher: Verso
Total Pages: 358
Release: 2003-11-17
Genre: Business & Economics
ISBN: 9781859844830

Brenner demonstrates that the new economy was always a fragile phenomenon.

Turbulent Waters

Turbulent Waters
Author: Ralph C. Bryant
Publisher: Brookings Institution Press
Total Pages: 532
Release: 2003
Genre: Business & Economics
ISBN: 9780815700722

The world economy at the end of the twentieth century was afflicted with financial turbulence. Millions of people in emerging-market nations endured severe recessions, and many residents of wealthy nations also experienced losses. Some scholars describe this instability as a consequence of a progressively integrated global economy. Writing for the Washington Post, Jessica Matthews describe an "enormous, several trillion-dollar pool of money that sloshes around in what is effectively a supranational cyberspace, moving by computer in and out of off-shore banks and chasing profits in twenty-four hour markets."Spanning the disciplines of economics, finance, political economy and international relations, this wide-ranging, analytical review is a mainstream "primer" for defining the issues and catalyzing a fruitful public debate. It is grounded in an exposition of the analytic fundamentals of financial activity, how those fundamentals apply to an integrating (but still far from perfectly integrated) world economy and financial system, and how the institutions of collective governance need to be adapted to that evolving world. In addition to its analytical overview, Turbulent Waters offers practical recommendations for the major financial challenges that policymakers will face during the first decades of the twenty-first century.

The Future of Globalization

The Future of Globalization
Author: Ernesto Zedillo
Publisher: Routledge
Total Pages: 430
Release: 2014-04-04
Genre: Business & Economics
ISBN: 1134003196

Erudite and topical, this well balanced treatment, with essays from world renowned contributors including the former President of Ireland – Mary Robinson, Jagdish Bhagwati and Nobel prize winner Joseph Stiglitz, considers the forces that propel globalization and those that resist it. Local and regional experiences from Bangladesh, China, India, Latin America and the Middle East are analyzed along with some of globalization’s most potent risks. Giving voice to sophisticated and illustrative reasoning, The Future of Globalization offers useful insights into the extraordinary human achievement brought about by increasing international economic integration, interdependence and interconnectedness, and shows how this has been a powerful force for the progress of humankind. The contributors take stock of the debate on globalization and explore ways to make globalization more beneficial for individuals, communities and countries, as well as ways to reduce its insufficiencies and mitigate the risks it faces. This book will benefit all students of economics, political science and international relations, among others, and is useful to courses that focus on globalization and its impacts.