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Freefall - Joseph E. Stiglitz

By Joseph E. Stiglitz

Release Date: 2010-10-04

Genre: Economics

4 (28 ratings)
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An incisive look at the global economic crisis, our flawed response, and the implications for the world’s future prosperity.
The Great Recession, as it has come to be called, has impacted more people worldwide than any crisis since the Great Depression. Flawed government policy and unscrupulous personal and corporate behavior in the United States created the current financial meltdown, which was exported across the globe with devastating consequences. The crisis has sparked an essential debate about America’s economic missteps, the soundness of this country’s economy, and even the appropriate shape of a capitalist system.

Few are more qualified to comment during this turbulent time than Joseph E. Stiglitz. Winner of the 2001 Nobel Prize in Economics, Stiglitz is “an insanely great economist, in ways you can’t really appreciate unless you’re deep into the field” (Paul Krugman, New York Times). In Freefall, Stiglitz traces the origins of the Great Recession, eschewing easy answers and demolishing the contention that America needs more billion-dollar bailouts and free passes to those “too big to fail,” while also outlining the alternatives and revealing that even now there are choices ahead that can make a difference. The system is broken, and we can only fix it by examining the underlying theories that have led us into this new “bubble capitalism.”

Ranging across a host of topics that bear on the crisis, Stiglitz argues convincingly for a restoration of the balance between government and markets. America as a nation faces huge challenges—in health care, energy, the environment, education, and manufacturing—and Stiglitz penetratingly addresses each in light of the newly emerging global economic order. An ongoing war of ideas over the most effective type of capitalist system, as well as a rebalancing of global economic power, is shaping that order. The battle may finally give the lie to theories of a “rational” market or to the view that America’s global economic dominance is inevitable and unassailable.

For anyone watching with indignation while a reckless Wall Street destroyed homes, educations, and jobs; while the government took half-steps hoping for a “just-enough” recovery; and while bankers fell all over themselves claiming not to have seen what was coming, then sought government bailouts while resisting regulation that would make future crises less likely, Freefall offers a clear accounting of why so many Americans feel disillusioned today and how we can realize a prosperous economy and a moral society for the future.

Freefall - Joseph E. Stiglitz

By Joseph E. Stiglitz

Release Date: 2010-10-04

Genre: Economics

4 (28 ratings)
Read Download
An incisive look at the global economic crisis, our flawed response, and the implications for the world’s future prosperity.
The Great Recession, as it has come to be called, has impacted more people worldwide than any crisis since the Great Depression. Flawed government policy and unscrupulous personal and corporate behavior in the United States created the current financial meltdown, which was exported across the globe with devastating consequences. The crisis has sparked an essential debate about America’s economic missteps, the soundness of this country’s economy, and even the appropriate shape of a capitalist system.

Few are more qualified to comment during this turbulent time than Joseph E. Stiglitz. Winner of the 2001 Nobel Prize in Economics, Stiglitz is “an insanely great economist, in ways you can’t really appreciate unless you’re deep into the field” (Paul Krugman, New York Times). In Freefall, Stiglitz traces the origins of the Great Recession, eschewing easy answers and demolishing the contention that America needs more billion-dollar bailouts and free passes to those “too big to fail,” while also outlining the alternatives and revealing that even now there are choices ahead that can make a difference. The system is broken, and we can only fix it by examining the underlying theories that have led us into this new “bubble capitalism.”

Ranging across a host of topics that bear on the crisis, Stiglitz argues convincingly for a restoration of the balance between government and markets. America as a nation faces huge challenges—in health care, energy, the environment, education, and manufacturing—and Stiglitz penetratingly addresses each in light of the newly emerging global economic order. An ongoing war of ideas over the most effective type of capitalist system, as well as a rebalancing of global economic power, is shaping that order. The battle may finally give the lie to theories of a “rational” market or to the view that America’s global economic dominance is inevitable and unassailable.

For anyone watching with indignation while a reckless Wall Street destroyed homes, educations, and jobs; while the government took half-steps hoping for a “just-enough” recovery; and while bankers fell all over themselves claiming not to have seen what was coming, then sought government bailouts while resisting regulation that would make future crises less likely, Freefall offers a clear accounting of why so many Americans feel disillusioned today and how we can realize a prosperous economy and a moral society for the future.

More by Joseph E. Stiglitz

The Price of Inequality

People, Power, and Profits

Freefall

The Great Divide

Globalization and Its Discontents

The Euro

Globalization and Its Discontents Revisited

Making Globalization Work

The Road to Freedom

Rewriting the Rules of the American Economy

The Three Trillion Dollar War

Creating a Learning Society

The Roaring Nineties

Creating a Learning Society

Escaping the Resource Curse

Development Economics through the Decades

El precio de la desigualdad

La gran brecha

The Arrow Impossibility Theorem

El malestar en la globalizaciĂłn

CaĂ­da libre

Capitalismo progresista

L'Euro

Speculation, Trading, and Bubbles

Sovereign Wealth Funds and Long-Term Investing

La creaciĂłn de una sociedad del aprendizaje

CĂłmo hacer que funcione la globalizaciĂłn

Fair Trade for All

The Quest for Security

The Economists’ Voice 2.0

The Great Polarization

The Origins of Inequality and Policies to Contain It

Too Little, Too Late

Industrial Policy and Economic Transformation in Africa

Los felices 90

The Washington Consensus Reconsidered

Mismeasuring Our Lives

Camino de libertad

In the Wake of the Crisis

Popolo, potere e profitti

Rewriting the Rules of the European Economy

El euro

Fair Trade For All

Globaliseringen och dess kritiker

Der Preis des Profits

Invertire la rotta

The Future of Work in Developing Countries

The Welfare State Revisited

The Stiglitz Report

Discounting for Time and Risk in Energy Policy

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