Free BookSystemic Fragility in the Global Economy

[Read.cGQ1] Systemic Fragility in the Global Economy

[Read.cGQ1] Systemic Fragility in the Global Economy

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Book Details :
Published on: 2016-02-09
Released on: 2016-02-09
Original language:

Just as contemporary economics failed to predict the 2008-09 crash, and over-estimated the subsequent brief recovery that followed, economists today are again failing to accurately forecast the slowing global economic growth, the growing fragility, and therefore rising instability in the global economy. This book offers a new approach to explaining why mainstream economic analyses have repeatedly failed and why fiscal and monetary policies have been incapable of producing a sustained recovery. Expanding upon the early contributions of Keynes, Minsky and others, it offers an alternative explanation why the global economy is slowing long term and becoming more unstable, why policies to date have largely failed, and why the next crisis may therefore prove even worse than that of 2008- 09. Systemic fragility is rooted in 9 key empirical trends: slowing real investment; a drift toward deflation; money, credit and liquidity explosion; rising levels of global debt; a shift to speculative financial investing; the restructuring of financial markets to reward capital incomes; the restricting of labor markets to lower wage incomes; the failure of Central Bank monetary policies; and the ineffectiveness of fiscal policies. It results from financial, consumer, and government balance sheet fragilities exacerbating each other -- creating a massive centripetal force disaggregating and tearing apart the whole, untameable by either fiscal or monetary means. This book clarifies how the price system in general, and financial asset prices in particular, transform into fundamentally destabilizing forces under conditions of systemic fragility. It explains why the global system has in recent decades become dependent upon, and even addicted to, massive liquidity injections, and how fiscal policies have been counterproductive, exacerbating fragility and instability. Policymakers’ failure to come to grips with how fundamental changes in the structure of the 21st century global capitalist economy—in particular in financial and labor market structures—make the global economy more systemically fragile can only propel it toward deeper instability and crises. BIS Paper: Systemic risk: how to deal with it? Abstract. This paper analyses systemic risk and considers appropriate policies to reduce it. It examines systemic risk as a negative externality in two dimensions ... War in Iraq: Global Implications - Council on Foreign ... The global impact of a war with Iraq depends crucially on the path of the war and the subsequent peace. That said a war in Iraq would have negative economic ... Global Risks 2014 - Reports - World Economic Forum Part 1: Global Risks 2014: Understanding Systemic Risks in a Changing Global Environment Jack Rasmus Productions: Epic Theater Music and Books on ... 2 New Book Announcements: LOOTING GREECE: A NEW FINANCIAL IMPERIALISM EMERGES Clarity Press Sept. 2016 & SYSTEMIC FRAGILITY IN THE GLOBAL ECONOMY Clarity Press ... Global Risks 2011 Sixth Edition Global Risks 2011 Sixth EditionAn Initiative of the Risk Response Network Effect of Global Financial Meltdown on the Nigerian ... Abstract. The paper ascertained the effect of the global financial meltdown on the Nigerian banking Industry and Economy. The study explores the plausibility of the ... When Will Chinas Government Collapse? Foreign Policy When Will Chinas Government Collapse? Foreign Policy the Global Magazine of News and Ideas Financial crisis of 20072008 - Wikipedia The financial crisis of 20072008 also known as the global financial crisis and the 2008 financial crisis is considered by many economists to have been the worst ... Global Report 2014 - systemicpeace.org Global Report 2014 Conflict Governance and State Fragility Monty G. Marshall Benjamin R. Cole Center for Systemic Peace IMF Global Financial Stability Report A Report on Market ... The Global Financial Stability Report provides an assessment of the global financial system and markets and addresses emerging market financing in a global context ...
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