A Lost Decade
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| Author | : Menzie D. Chinn |
| Publisher | : W. W. Norton & Company |
| Total Pages | : 259 |
| Release | : 2011-09-19 |
| Genre | : Business & Economics |
| ISBN | : 0393080501 |
A clear, authoritative guide to the crisis of 2008, its continuing repercussions, and the needed reforms ahead. The U.S. economy lost the first decade of the twenty-first century to an ill-conceived boom and subsequent bust. It is in danger of losing another decade to the stagnation of an incomplete recovery. 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. 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. This was the most serious international economic crisis since the Great Depression of the 1930s. Menzie Chinn and Jeffry Frieden explain the political and economic roots of this crisis as well as its long-term effects. They explore the political strategies behind the Bush administration’s policy of funding massive deficits with foreign borrowing. They show that the crisis was foreseen by many and was avoidable through appropriate policy measures. They examine the continuing impact of our huge debt on the continuing slow recovery from the recession. Lost Decades will long be regarded as the standard account of the crisis and its aftermath.
| Author | : Naoyuki Yoshino |
| Publisher | : Springer |
| Total Pages | : 187 |
| Release | : 2017-09-20 |
| Genre | : Business & Economics |
| ISBN | : 981105021X |
This book discusses Japan’s long-term economic recession and provides remedies for that recession that are useful for other Asian economies. The book addresses why Japan’s economy has stagnated since the bursting of its economic bubble in the 1990s. Its empirical analysis challenges the beliefs of some economists, such as Paul Krugman, that the Japanese economy is caught in a liquidity trap. This book argues that Japan’s economic stagnation stems from a vertical “investment–saving” (IS) curve rather than a liquidity trap. The impact of fiscal policy has declined drastically, and the Japanese economy faces structural problems rather than a temporary downturn. These structural problems have many causes: an aging demographic (a problem that is frequently overlooked), an over-reliance by local governments on transfers from the central government, and Basel capital requirements that have made Japanese banks reluctant to lend money to start-up businesses and small and medium-sized enterprises. This latter issue has discouraged Japanese innovation and technological progress. All these issues are addressed empirically and theoretically, and several remedies for Japan’s long-lasting recession are provided. This volume will be of interest to researchers and policy makers not only in Japan but also the People’s Republic of China, many countries in the eurozone, and the United States, which may face similar challenges in the future.
| Author | : Puja Mehra |
| Publisher | : Penguin Random House India Private Limited |
| Total Pages | : 358 |
| Release | : 2019-04-18 |
| Genre | : Literary Collections |
| ISBN | : 9353054990 |
Before the global financial meltdown of 2008, India's economy was thriving and its GDP growth was cruising at an impressive 8.8 per cent. The economic boom impacted a large section of Indians, even if unequally. With sustained high growth over an extended period, India could have achieved what economists call a 'take-off' (rapid and self-sustained GDP growth). The global financial meltdown disrupted this momentum in 2008. In the decade that followed, each time the country's economy came close to returning to that growth trajectory, political events knocked it off course. In 2019, India's GDP is growing at the rate of 7 per cent, making it the fastest-growing major economy in the world, but little on the ground suggests that Indians are actually better off. Economic discontent and insecurity are on the rise, farmers are restive and land-owning classes are demanding quotas in government jobs. The middle class is palpably disaffected, the informal economy is struggling and big businesses are no longer expanding aggressively. India is not the star it was in 2008 and in effect, the 'India growth story' has devolved into 'growth without a story'. The Lost Decade tells the story of the slide and examines the political context in which the Indian economy failed to recover lost momentum.
| Author | : Polly Toynbee |
| Publisher | : Guardian Faber Publishing |
| Total Pages | : 0 |
| Release | : 2020 |
| Genre | : History |
| ISBN | : 9781783351718 |
An authoritative survey of 2010-20: what went wrong, what went right, and what's next for Britain.
| Author | : Gary Saxonhouse |
| Publisher | : Wiley-Blackwell |
| Total Pages | : 132 |
| Release | : 2004-03-05 |
| Genre | : Political Science |
| ISBN | : 9781405119177 |
This volume explores the origins of Japan’s current economic crisis and assesses the country’s prospects for recovery. An exploration of the origins and consequences of Japan’s current economic crisis. Examines the collapse of the equity and real estate market bubbles in the late 1980s. Analyses the failure of Japanese monetary and fiscal policies to reverse the ensuing economic decline. Evaluates unorthodox options available to policy makers that might enable Japan to recover from its ‘lost decade’. Suggests that Japan’s prospects for economic recovery are still uncertain.
| Author | : Chris Horn |
| Publisher | : Bloomsbury Publishing USA |
| Total Pages | : 241 |
| Release | : 2023-10-19 |
| Genre | : Performing Arts |
| ISBN | : 1501394479 |
Provides an analysis of Hollywood from a fresh viewpoint that shows the careers of Robert Altman, Francis Coppola, William Friedkin, and others in the 1980s as far from conforming to a monolithic pattern of decline, but rather as diverse and complex responses to political and industrial changes. The 1980s are routinely seen as the era of the blockbuster and of 'Reaganite entertainment,' whereas the dominant view of late 1960s and early 1970s American film history is that of a 'Hollywood Renaissance', a relatively brief window of artistry based around a select group of directors. Yet key directors associated with the Renaissance period remained active throughout the 1980s and their work has been obscured or dismissed by a narrow, singular model of American film history. This book deals with industrial contexts that conditioned these directors' ability to work creatively, but it is also very much about the analysis of individual films, bringing to light a range of unheralded work, from the visual experimentation of One from the Heart (Coppola, 1981) to the experimental production contexts of Secret Honor (Altman, 1984) and the stylistic élan of To Live and Die in L.A. (Friedkin, 1985). Behind the homogenous picture of the decline of the auteur in 1980s American cinema are films and careers that merit greater attention, and this book offers a new way to perceive individual films, American film history, and the viability of sustained authorial creativity within post-studio era Hollywood.
| Author | : Robert Blackwill |
| Publisher | : Oxford University Press |
| Total Pages | : 481 |
| Release | : 2024 |
| Genre | : History |
| ISBN | : 0197677940 |
Across the political spectrum, there is wide agreement that Asia should be at the center of US foreign policy. But this worldview, the "Pivot to Asia" announced by the Obama Administration in 2011, is a dramatic departure from the entire history of American grand strategy. Ten years on, we now have some perspective to evaluate it in depth. In The Lost Decade, Robert Blackwill and Richard Fontaine take this long view. They conclude that there are few successes to speak of, and that we lack a coherent approach to the Indo-Pacific region. They examine the Pivot through various lenses: situating it historically in the context of America's global foreign policy, revealing the inside story of how it came about, assessing the effort thus far, identifying the ramifications in other regions (namely Europe and the Middle East), and proposing a path forward.
| Author | : Paul Krugman |
| Publisher | : House of Anansi |
| Total Pages | : 106 |
| Release | : 2012-02-04 |
| Genre | : Political Science |
| ISBN | : 177089201X |
As stock markets gyrate, Europe lurches from crisis to crisis, and recovery in the United States slows, the future of the North American economy is more uncertain than ever. Can individual entrepreneurship, corporate innovation, and governments create a new era of sustained economic growth? Or, will the ongoing financial crisis, political dysfunction in the United States, and the rise of emerging nations erode living standards in North America for the long term? In this edition of the Munk Debates -- Canada's premier international debate series -- Nobel Prize-winning economist Paul Krugman and former Chief Economist at the Bank of America-Merrill Lynch David Rosenberg square off against former director of President Obama’s National Economic Council Lawrence Summers and bestselling author Ian Bremmer to tackle the resolution: Be it resolved North America faces a Japan-style era of high unemployment and slow growth. This riveting debate features four of the world's most renowned economists discussing the single most important issue facing all North Americans in a lively, engaging forum. The economy is a concern that demands our immediate attention and this enlightening and hugely important debate is a must-read for all of us.
| Author | : W. Miles Fletcher III |
| Publisher | : Routledge |
| Total Pages | : 218 |
| Release | : 2014-06-11 |
| Genre | : Business & Economics |
| ISBN | : 1317977025 |
Understanding the 'lost decade' of the 1990s is central to explaining Japan today. Following a period of record high growth, the chronic downturn after 1990 raised fundamental questions about the course of the world's third largest economy. This crisis also presented Japan with the opportunity for transformative change. Changes have followed, some of them less than might be expected, and some of them far more sweeping than is generally realized. This volume presents a wide range of international perspectives on post-bubble Japan, exploring the effects of the long downturn on the views of the Japanese business community, management practices, and national policies. To what degree has Japan's traumatic experience prompted basic reforms in terms of legal changes, corporate governance, business strategy, and the longterm national vision for the economy? This book was originally published as a special issue of Asia Pacific Business Review.
| Author | : Heiko Feldner |
| Publisher | : Cambridge Scholars Publishing |
| Total Pages | : 270 |
| Release | : 2010-10-12 |
| Genre | : History |
| ISBN | : 1443826006 |
This volume of essays explores the social, political and cultural legacies of a decade which has, until relatively recently, received scant scholarly attention. Sandwiched uncomfortably between the traumatic events of the Second World War and the dramatic changes of the 1960s, the 1950s appeared as seemingly transitional years, while they were in fact an astonishingly fecund period of reassessment and experimentation when traditional models were re-evaluated and new models were road-tested, to be either developed or rejected. An important intervention in the dynamic scholarly re-examination of the 1950s, this volume analyzes these years in relation to three broadly defined areas: historiography, politics and society, and culture. What emerges from all three parts of the volume is a vision of the 1950s as a decade which was to have a profound impact on post-war European identities in two key respects: as a time of accelerated European intellectual exchange and as a time of fertile receptivity to the ‘new’, variously formulated and contested across and within national borders. Written by experts in the field, the contributions to this volume represent some of the most exciting work on the 1950s currently being undertaken in Europe and the US. They combine high intellectual standards with accessibility and will appeal to academics, students and the general reader alike.
