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"In traditional theory of economic crisis, and in all its manifestations, there is no fundamental difference between economic disorder and economic crisis: the two types of economic turmoil are both considered temporary states. This book is a methodical study of deep-seated causes of economic crises. The aim of the book is to explain the key difference between economic disorder and economic crisis. Its key argument is that economic disorder is a permanent condition, whereas economic crises are a series of transitory periods. Economic crises, unlike economic disorders, are acute and frenzied volatilities that are unpredictable and short-lived. Humans cannot survive in a condition of perpetual economic crises but can only accommodate life under unremitting economic disorders. The book also explores the root cause of economic crisis. Unlike the received wisdom in economics, this book looks at the root cause of such hysterical economic turbulences as a result of an innate propensity of human fallibility. The final section of this book looks at the ramifications of this alternative perspective on macroeconomic policy formation and implementation. This book is a major contribution to the literature on economic disorder and crises and will be of great interest to readers of economic theory, philosophy of economics and the history of economic thought"--

"In traditional theory of economic crisis, and in all its manifestations, there is no fundamental difference between economic disorder and economic crisis: the two types of economic turmoil are both considered temporary states. This book is a methodical study of deep-seated causes of economic crises. The aim of the book is to explain the key difference between economic disorder and economic crisis. Its key argument is that economic disorder is a permanent condition, whereas economic crises are a series of transitory periods. Economic crises, unlike economic disorders, are acute and frenzied volatilities that are unpredictable and short-lived. Humans cannot survive in a condition of perpetual economic crises but can only accommodate life under unremitting economic disorders. The book also explores the root cause of economic crisis. Unlike the received wisdom in economics, this book looks at the root cause of such hysterical economic turbulences as a result of an innate propensity of human fallibility. The final section of this book looks at the ramifications of this alternative perspective on macroeconomic policy formation and implementation. This book is a major contribution to the literature on economic disorder and crises and will be of great interest to readers of economic theory, philosophy of economics and the history of economic thought"--

"Constantly bandied about, 'crisis' has tended to be a much-overused word. Understanding the economy and its future challenges requires a detailed and precise analysis of what an economic crisis is. This book sets out to do just that. It first provides a deep historical context of what economic theory says about crises and their perpetual return in the form of a cycle. It then looks at what lessons might be learned from this. Since 1945, the world economy has been dominated by the United States, so an analysis of recent crises must necessarily consider public policy response in this country. The book attempts to answer the question of whether American leadership has emerged unscathed from the damage inflicted by the 1975, 1992, 2009 and 2020 recessions and their legacies of debt. As for environmental issues, this book interrogates whether they carry with them a devastating crisis, reminiscent of the 'nutritional trap' theorized by Nobel Prize winner Angus Deaton, and asks if there will be a return to times of extreme scarcity as seen prior to the mid-18th century."

The Hindu doctrine has broad covering laws for the description and management of crises. Economic swings are covered under a theory of long cycles that parallels the Golden, Silver, Bronze, and Iron ages of the West. Order breaks down in each cycle, and society is reconstituted anew. The individuals and ruler produce, accumulate, and distribute wealth in each epoch in accordance with scriptural injunctions, and crises occur when the codes of eternal religion are broken. In the process of their everyday experiences, people are urged to adhere to the truth, to be conscious of their true nature, and to pursue happiness. The ruler is charged with managing economic affairs with proper council. Within that broad framework that has been morphing over history from foreign invasion-to-invasion, operational elements can be drawn out for any crises situation.

Documents the trend toward increasingly frequent & severe economic crises, the most recent of which are the crises in East Asia, Brazil, & Russia. It is argued that these crises are rooted in private-to-private capital flows. Policy proposals to prevent & mitigate future economic crises are considered, including increasing transparency, better financial regulation (eg, mild financial restraints), some restrictions on capital flows, more expansionary macroeconomic policy, & procedures for standstills & workouts in the event of a crisis. It is argued that these measures would help secure economic growth & thus help promote social development & poverty alleviation. 1 Photograph, 21 References. Adapted from the source document.