The Economics of Global Turbulence

The Advanced Capitalist Economies from Long Boom to Long Downturn, 1945-2005
Author: Robert Brenner
Publisher: Verso
ISBN: 9781859847305
Category: Business & Economics
Page: 369
View: 1637
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BRENNER/ECONOMICS OF GLOBAL TURBU

The Economics of Global Turbulence

The Advanced Capitalist Economies from Long Boom to Long Downturn, 1945– 2005
Author: Robert Brenner
Publisher: Verso Books
ISBN: 1786630508
Category: Business & Economics
Page: 384
View: 2043
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New edition of Brenner’s now classic survey of the world economy from 1950 to the present For years, the discipline of economics has been moving steadily away from the real world towards formalized axioms and mathematical models with only a precarious bearing on actuality. Commentators seek to fill the gap as best they can, but in the absence of real background scholarship, journalism is vulnerable to the myopias of fashion and immediacy. The deeper enigmas of post-war development remain in either case largely untouched. Bringing together the strengths of both the economist and the historian, Robert Brenner rises to this challenge. In this work, a revised and newly introduced edition of his acclaimed New Left Review special report, he charts the turbulent post-war history of the global system and unearths the mechanisms of over production and over-competition which lie behind its long-term crisis since the early 1970s, thereby demonstrating the thoroughly systematic factors behind wage repression, high unemployment and unequal development, and raising disturbing and far-reaching questions about its future trajectory. In this new edition, Brenner brings the story up to date, taking into account the great financial crisis of 2008 and its aftermath. From the Trade Paperback edition.

The Boom and the Bubble

The US in the World Economy
Author: Robert Brenner
Publisher: Verso
ISBN: 9781859844830
Category: Business & Economics
Page: 331
View: 7565
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Brenner demonstrates that the new economy was always a fragile phenomenon.

The Seven Secrets of Germany

Economic Resilience in an Era of Global Turbulence
Author: David B. Audretsch,Erik E. Lehmann
Publisher: Oxford University Press
ISBN: 0190258691
Category: Economic development
Page: 248
View: 1409
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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.

Global Slump

The Economics and Politics of Crisis and Resistance
Author: David McNally
Publisher: PM Press
ISBN: 1604860650
Category: Business & Economics
Page: 176
View: 5554
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Investigating the global financial meltdown as the first systemic crisis of the neoliberal stage of capitalism, this analysis argues that—far from having ended—the crisis has ushered in a period of worldwide economic and political turbulence. In developing an account of the crisis as rooted in fundamental features of capitalism, this study challenges the view that capitalism's source lies in financial deregulation, and highlights the emergence of new patterns of world inequality and new centers of accumulation, particularly in East Asia, and the profound economic instabilities these have produced. This original account of the “financialization” of the world economy during this period explores the intricate connections between international financial markets and new forms of debt and dispossession. Analyzing the massive intervention of the world’s central banks to stave off another Great Depression, this study 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 cuts in social programs. Taking 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, this book 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 anticapitalist opposition to the damage that neoliberal capitalism is inflicting on the lives of millions.

Merchants and Revolution

Commercial Change, Political Conflict, and London's Overseas Traders, 1550-1653
Author: Robert Brenner
Publisher: Verso
ISBN: 9781859843338
Category: Business & Economics
Page: 734
View: 9550
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In this major reinterpretation of the activities of London's merchant community during the early Stuart period, Robert Brenner explains the factors behind the opening of long-distance commerce to the south and east, describes the growing power of the great City merchants, and pro-files the new colonial traders, who became the chief architects of the Common-wealth's dynamic commercial policy.

The Age of Turbulence

Adventures in a New World
Author: Alan Greenspan
Publisher: Penguin
ISBN: 9781440635694
Category: Biography & Autobiography
Page: 576
View: 7977
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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.

Economic Turbulence

Is a Volatile Economy Good for America?
Author: Clair Brown,John Haltiwanger,Julia Lane
Publisher: University of Chicago Press
ISBN: 0226076342
Category: Business & Economics
Page: 212
View: 5497
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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.

Rebel Rank and File

Labor Militancy and Revolt from Below During the Long 1970s
Author: Aaron Brenner
Publisher: Verso Books
ISBN: 9781844671748
Category: Business & Economics
Page: 408
View: 5469
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“This is an unusually high-quality effort, with an all-star cast ofauthors, whichshould attract wide interest.”—Nelson Lichtenstein, Professor of HistoryatUniversity of California Santa Barbara

Russia's Economy in an Epoch of Turbulence

Crises and Lessons
Author: Vladimir Mau
Publisher: Routledge
ISBN: 1351667440
Category: Social Science
Page: 262
View: 3038
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Over the course of the last thirty years post-communist Russia has either been struggling with crises, discussing the lessons learned from past crises, or attempting to trace the contours of future crises. Based on the author’s own experiences and his research over this long period, this book traces the logic of the development of the crises and the anti-crisis policies, and shows the continuity, or discontinuity, in determining particular solutions. It demonstrates how perceptions of the priorities for economic policy, and the problems of economic growth and the formation of a new model and its alternatives were formed and how they changed. It also outlines the evolution of ideas about the role of social politics and human capital sectors in addressing anti-crisis and modernization issues, and discusses the changing views on the institutional and structural priorities for Russia’s development. This is an important book on an economic subject of crucial global significance by a leading participant.

Petrified Minds


Author: Robert Brenner
Publisher: Createspace Independent Publishing Platform
ISBN: 9781986282857
Category:
Page: 236
View: 2951
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Jason. Jennifer. Paula. Each suffering from petrifying, mental trauma inhibiting living normal lives-each knowing they couldn't continue without help. Without change. Without courage. But . . . hypnotism? Really? Not something they previously considered. It was, however, the decision that changed their lives. Robert Brenner's novel, Petrified Minds, chronicles hypnosis therapy sessions relating to three patients-one battles IBS, the other, asthma and personal assault, and the third fears flying and travel. Brenner digs deeply into their petrified, subconscious minds, allowing readers to delve with him into the root causes of his patients' emotional responses. Never knowing what to expect, each hypnosis session is different as Brenner searches to understand experiences from his patients' pasts-experiences preventing them from blossoming into the people they're meant to be.

Old Gods, New Enigmas

Marx's Lost Theory
Author: Mike Davis
Publisher: Verso Books
ISBN: 1788732162
Category:
Page: 320
View: 8451
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"Mike Davis, recipient of the MacArthur Fellowship, has written Old Gods, New Enigmas to tackle the remaining interest of Marx's oeuvre. Although everyone agrees that proletarian agency is at the very core of revolutionary doctrine, one searches in vain for any expanded definition, much less canonical treatment. For this reason, Chapter 1 adopts an indirect strategy: a parallel reading of Marx and other socialist thinkers of the classical frame. The goal has been to find accounts of how class capacities and consciousness arose on the principal terrains of social conflict; in the socialized factory and the battles within it for dignity and wages; through sometimes invisible struggles over the labor process; out of the battles of working-class families against landlordism and the high cost of living; from crusades for universal suffrage and against war. Chapter 2, "Marx's Lost Theory," influenced by Erica Benner's work on the politics of nationalism in Marx, argues that Marx's requiem for the failed revolution in France (The Eighteenth Brumaire and Class Struggles in France) stands second only to Capital as an intellectual achievement; moreover, one that is grounded completely in the urgency of revolutionary activism. Chapter 3 focuses on Marx's critic, Kropotkin, who in his scientific persona instigated a great international debate on climate change. Chapter 4, "Who Will Build the Ark?," centers on the debate about the "Anthropocene," a proposed geological epoch, without previous analogue, defined by the biogeochemical impacts of industrial capitalism, was still largely confined to earth science circles"--

Economics of Good and Evil

The Quest for Economic Meaning from Gilgamesh to Wall Street
Author: Tomas Sedlacek
Publisher: Oxford University Press
ISBN: 0199830614
Category: Business & Economics
Page: 376
View: 4080
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Tomas Sedlacek has shaken the study of economics as few ever have. Named one of the "Young Guns" and one of the "five hot minds in economics" by the Yale Economic Review, he serves on the National Economic Council in Prague, where his provocative writing has achieved bestseller status. How has he done it? By arguing a simple, almost heretical proposition: economics is ultimately about good and evil. In The Economics of Good and Evil, Sedlacek radically rethinks his field, challenging our assumptions about the world. Economics is touted as a science, a value-free mathematical inquiry, he writes, but it's actually a cultural phenomenon, a product of our civilization. It began within philosophy--Adam Smith himself not only wrote The Wealth of Nations, but also The Theory of Moral Sentiments--and economics, as Sedlacek shows, is woven out of history, myth, religion, and ethics. "Even the most sophisticated mathematical model," Sedlacek writes, "is, de facto, a story, a parable, our effort to (rationally) grasp the world around us." Economics not only describes the world, but establishes normative standards, identifying ideal conditions. Science, he claims, is a system of beliefs to which we are committed. To grasp the beliefs underlying economics, he breaks out of the field's confines with a tour de force exploration of economic thinking, broadly defined, over the millennia. He ranges from the epic of Gilgamesh and the Old Testament to the emergence of Christianity, from Descartes and Adam Smith to the consumerism in Fight Club. Throughout, he asks searching meta-economic questions: What is the meaning and the point of economics? Can we do ethically all that we can do technically? Does it pay to be good? Placing the wisdom of philosophers and poets over strict mathematical models of human behavior, Sedlacek's groundbreaking work promises to change the way we calculate economic value.

Global Inequality


Author: Branko Milanovic
Publisher: Harvard University Press
ISBN: 0674969766
Category: Business & Economics
Page: 311
View: 1809
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Branko Milanovic presents a bold account of the dynamics that drive inequality on a global scale. Using vast data sets, he explains the forces that make inequality rise and fall within and among nations over time. He reveals who has been helped by globalization, who has been hurt, andwhat policies might tilt the balance toward economic justice.

Postcapitalism

A Guide to Our Future
Author: Paul Mason
Publisher: Farrar, Straus and Giroux
ISBN: 0374710694
Category: Business & Economics
Page: 368
View: 9032
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We know that our world is undergoing seismic change—but how can we emerge from the crisis a fairer, more equal society? Over the past two centuries or so, capitalism has undergone profound changes—economic cycles that veer from boom to bust—from which it has always emerged transformed and strengthened. Surveying this turbulent history, Paul Mason’s Postcapitalism argues that we are on the brink of a change so big and so profound that this time capitalism itself, the immensely complex system within which entire societies function, will mutate into something wholly new. At the heart of this change is information technology, a revolution that is driven by capitalism but, with its tendency to push the value of much of what we make toward zero, has the potential to destroy an economy based on markets, wages, and private ownership. Almost unnoticed, in the niches and hollows of the market system, swaths of economic life are beginning to move to a different rhythm. Vast numbers of people are changing how they behave and live, in ways contrary to the current system of state-backed corporate capitalism. And as the terrain changes, new paths open. In this bold and prophetic book, Mason shows how, from the ashes of the crisis, we have the chance to create a more socially just and sustainable economy. Although the dangers ahead are profound, he argues that there is cause for hope. This is the first time in human history in which, equipped with an understanding of what is happening around us, we can predict and shape the future.

Liberalism 2.0 and the Rise of China

Global Crisis, Innovation and Urban Mobility
Author: David Tyfield
Publisher: Routledge
ISBN: 1317565398
Category: Social Science
Page: 264
View: 3311
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What can we do in this period of historic, global turbulence? Mainstream narratives have no plausible account of how to stop exacerbating the multiple, overlapping challenges; much less begin to address them meaningfully. The only thing everyone agrees is innovation will be needed. But what is innovation? Usually, it is understood as new technologies that will ‘solve’ specific ‘problems’ – and, it is hoped, return life to a ‘business as usual’ of progress in individual freedom and wealth. But innovation is a thoroughly social process with profound implications for the arrangement of power in a society, hence shaping the emergence of new social systems. Exploring evidence from the key arenas of low-carbon innovation, including in the pivotal location of a rising China, this book describes the global systemic crisis of a neoliberal world order and the embryonic emergence of an alternative global power regime of a ‘liberalism 2.0’. This augurs both a web 2.0-based revitalization of the classical liberalism of the nineteenth century and new Dickensian inequalities and injustices. Against hopes that the present is a ‘revolutionary’ moment, therefore, political engagement with this emerging power regime is thus presented as the most productive strategy for a progressive twenty-first century politics.

Turbulence and Order in Economic Development

Economic Transformation in Tanzania and Vietnam
Author: Hazel Gray
Publisher: Oxford University Press
ISBN: 0192548018
Category: Business & Economics
Page: 272
View: 9900
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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.

The City

London and the Global Power of Finance
Author: Tony Norfield
Publisher: Verso Books
ISBN: 1784783676
Category: Political Science
Page: 288
View: 8596
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Radical insider’s account of how the city of London really works The City, as London’s financial centre is known, is the world’s biggest international banking and foreign exchange market, shaping the development of global capital. It is also, as this groundbreaking book reveals, a crucial part of the mechanism of power in the world economy. Based on the author’s twenty years’ experience of City dealing rooms, The City is an in-depth look at world markets and revenues that exposes how this mechanism works. All big international companies—not just the banks—utilise this system, and The City shows how the operations of the City of London are critical both for British capitalism and for world finance. Tony Norfield details, with shocking and insightful research, the role of the US dollar in global trading, the network of Britishlinked tax havens, the flows of finance around the world and the system of power built upon financial securities. Why do just fifty companies now have control of a large share of world economic production? The City explains how this situation came about, examining the history of the world economy from the postwar period to the present day. If you imagine you don’t like “finance” but have no problem with the capitalist market system, think again: it turns out the two cannot be separated.

And the Weak Suffer What They Must?

Europe's Crisis and America's Economic Future
Author: Yanis Varoufakis
Publisher: Nation Books
ISBN: 1568585055
Category: Political Science
Page: 368
View: 4407
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A #1 Sunday Times bestseller [UK] A titanic battle is being waged for Europe's integrity and soul, with the forces of reason and humanism losing out to growing irrationality, authoritarianism, and malice, promoting inequality and austerity. The whole world has a stake in a victory for rationality, liberty, democracy, and humanism. In January 2015, Yanis Varoufakis, an economics professor teaching in Austin, Texas, was elected to the Greek parliament with more votes than any other member of parliament. He was appointed finance minister and, in the whirlwind five months that followed, everything he had warned about-the perils of the euro's faulty design, the European Union's shortsighted austerity policies, financialized crony capitalism, American complicity and rising authoritarianism-was confirmed as the "troika" (the European Central Bank, International Monetary Fund, and European Commission) stonewalled his efforts to resolve Greece's economic crisis. Here, Varoufakis delivers a fresh look at the history of Europe's crisis and America's central role in it. He presents the ultimate case against austerity, proposing concrete policies for Europe that are necessary to address its crisis and avert contagion to America, China, and the rest of the world. With passionate, informative, and at times humorous prose, he warns that the implosion of an admittedly crisis-ridden and deeply irrational European monetary union should, and can, be avoided at all cost.

The City

London and the Global Power of Finance
Author: Tony Norfield
Publisher: Verso
ISBN: 9781784785024
Category: Business & Economics
Page: 320
View: 6826
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Radical insider's account of how the city of London really works The City, as London's financial centre is known, is the world's biggest international banking and foreign exchange market, shaping the development of global capital. It is also, as this groundbreaking book reveals, a crucial part of the mechanism of power in the world economy. Based on the author's twenty years' experience of City dealing rooms, The City is an in-depth look at world markets and revenues that exposes how this mechanism works. All big international companies--not just the banks--utilise this system, and The City shows how the operations of the City of London are critical both for British capitalism and for world finance. Tony Norfield details, with shocking and insightful research, the role of the US dollar in global trading, the network of Britishlinked tax havens, the flows of finance around the world and the system of power built upon financial securities. Why do just fifty companies now have control of a large share of world economic production? The City explains how this situation came about, examining the history of the world economy from the postwar period to the present day. If you imagine you don't like "finance" but have no problem with the capitalist market system, think again: it turns out the two cannot be separated.