Suchergebnisse

The best of all possible worlds -- The key to all things -- Blurry vision -- Economism and economics -- Ideas in the world -- The magic of the marketplace -- The long march of economism -- Ideas and interests -- Pioneers -- Industrialists -- Promoters -- Politicians -- The problem with a price floor -- In the real world -- The view from the top -- Pay = productivity -- How the rich get that way -- Deadweight triangles -- The anti-tax chorus -- Tax cuts for job creators -- Savings, labor, and growth -- The price of civilization -- Too much free stuff -- Consumer-driven utopia -- Bad choices -- Broken market -- The forgotten alternative -- Supply, demand, and capital -- Innovation unbound -- Toxic mortgages -- Toxic banks -- Economism unbowed -- Oranges and bananas -- Winners and losers -- The real impact of trade -- Bait and switch -- Cui bono? -- Where are we going? -- Beyond economism?

Provides historical context for the 2008 financial crisis and proposes a radical solution, the megabanks deemed "too big to fail" must be made smaller.--

Financial crises frequently increase public sector borrowing and threaten some form of sovereign debt crisis. Until recently, high income countries were thought to have become less vulnerable to severe banking crises that have lasting negative effects on growth. Since 2007, crises and attempted reforms in the United States and Europe indicate that advanced countries remain acutely vulnerable. Best practice from developing country experience suggests that regulatory constraints on the financial sector should be strengthened, but this is hard to do in countries where finance has a great deal of political power and cultural prestige, and where leverage is already high.