Coverart for item
The Resource Hall of mirrors : the Great Depression, the great recession, and the uses-and misuses-of history, Barry Eichengreen, (electronic resource)

Hall of mirrors : the Great Depression, the great recession, and the uses-and misuses-of history, Barry Eichengreen, (electronic resource)

Label
Hall of mirrors : the Great Depression, the great recession, and the uses-and misuses-of history
Title
Hall of mirrors
Title remainder
the Great Depression, the great recession, and the uses-and misuses-of history
Statement of responsibility
Barry Eichengreen
Creator
Subject
Language
eng
Summary
"There have been two global financial crises in the past century: the Great Depression of the 1930s and the Great Recession that began in 2008. Both featured loose credit, precarious real estate and stock market bubbles, suspicious banking practices, an inflexible monetary system, and global imbalances; both had devastating economic consequences. In both cases, people in the prosperous decade preceding the crash believed they were living in a post-volatility economy, one that had tamed the cycle of boom and bust. When the global financial system began to totter in 2008, policymakers were able to draw on the lessons of the Great Depression in order to prevent a repeat, but their response was still inadequate to prevent massive economic turmoil on a global scale. In Hall of Mirrors, renowned economist Barry Eichengreen provides the first book-length analysis of the two crises and their aftermaths. Weaving together the narratives of the 30s and recent years, he shows how fear of another Depression greatly informed the policy response after the Lehman Brothers collapse, with both positive and negative results. On the positive side, institutions took the opposite paths that they had during the Depression; government increased spending and cut taxes, and central banks reduced interest rates, flooded the market with liquidity, and coordinated international cooperation. This in large part prevented the bank failures, 25% unemployment rate, and other disasters that characterized the Great Depression. But they all too often hewed too closely and too literally to the lessons of the Depression, seeing it as a mirror rather than focusing on the core differences. Moreover, in their haste to differentiate themselves from their forbears, today's policymakers neglected the constructive but ultimately futile steps that the Federal Reserve took in the 1930s. While the rapidly constructed policies of late 2008 did succeed in staving off catastrophe in the years after, policymakers, institutions, and society as a whole were too eager to get back to normal, even when that meant stunting the recovery via harsh austerity policies and eschewing necessary long-term reforms. The result was a grindingly slow recovery in the US and a devastating recession in Europe. Hall of Mirrors is not only a monumental work of economic history, but an essential exploration of how we avoided making only some of the same mistakes twice--and why our partial remedy makes us highly susceptible to making other, equally important mistakes yet again"--
Assigning source
Provided by publisher
Cataloging source
DLC
http://library.link/vocab/creatorName
Eichengreen, Barry J
Dewey number
973.91
Index
no index present
Literary form
non fiction
http://library.link/vocab/subjectName
  • Depressions
  • Economic policy
  • Global Financial Crisis, 2008-2009
  • Economic policy
Label
Hall of mirrors : the Great Depression, the great recession, and the uses-and misuses-of history, Barry Eichengreen, (electronic resource)
Link
http://ezproxy.eui.eu/login?url=http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=880344
Instantiates
Publication
Bibliography note
Includes bibliographical references and index
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier.
Color
multicolored
Content category
text
Content type code
txt
Content type MARC source
rdacontent.
Contents
Introduction -- Castles in Spain Made Real -- Inflation's Shadow -- Children's Playroom -- Financialization with a Vengeance -- Flip That House -- Europe and the Euro -- The Crisis to End All Crises -- The J.P. Morgan of the South -- Shuttle Diplomacy -- Will America Topple Too? -- Largely Contained -- Out of the Shadows -- The Worst Financial Crisis Since 1933 -- The Three B's -- New Deal -- Double Dip -- Preventing the Worst -- Unconventional Policy -- Weak Soup -- The Turn to Austerity -- The Euro Crisis -- Whatever It Takes -- Conclusion
Control code
ybp12138905
Dimensions
unknown
Extent
1 online resource (521 pages)
Form of item
online
Governing access note
Use of this electronic resource may be governed by a license agreement which restricts use to the European University Institute community. Each user is responsible for limiting use to individual, non-commercial purposes, without systematically downloading, distributing, or retaining substantial portions of information, provided that all copyright and other proprietary notices contained on the materials are retained. The use of software, including scripts, agents, or robots, is generally prohibited and may result in the loss of access to these resources for the entire European University Institute community
Isbn
9780199392018
Media category
computer
Media MARC source
rdamedia.
Media type code
c
Specific material designation
remote
System control number
(OCoLC)914481333
Label
Hall of mirrors : the Great Depression, the great recession, and the uses-and misuses-of history, Barry Eichengreen, (electronic resource)
Link
http://ezproxy.eui.eu/login?url=http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=880344
Publication
Bibliography note
Includes bibliographical references and index
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier.
Color
multicolored
Content category
text
Content type code
txt
Content type MARC source
rdacontent.
Contents
Introduction -- Castles in Spain Made Real -- Inflation's Shadow -- Children's Playroom -- Financialization with a Vengeance -- Flip That House -- Europe and the Euro -- The Crisis to End All Crises -- The J.P. Morgan of the South -- Shuttle Diplomacy -- Will America Topple Too? -- Largely Contained -- Out of the Shadows -- The Worst Financial Crisis Since 1933 -- The Three B's -- New Deal -- Double Dip -- Preventing the Worst -- Unconventional Policy -- Weak Soup -- The Turn to Austerity -- The Euro Crisis -- Whatever It Takes -- Conclusion
Control code
ybp12138905
Dimensions
unknown
Extent
1 online resource (521 pages)
Form of item
online
Governing access note
Use of this electronic resource may be governed by a license agreement which restricts use to the European University Institute community. Each user is responsible for limiting use to individual, non-commercial purposes, without systematically downloading, distributing, or retaining substantial portions of information, provided that all copyright and other proprietary notices contained on the materials are retained. The use of software, including scripts, agents, or robots, is generally prohibited and may result in the loss of access to these resources for the entire European University Institute community
Isbn
9780199392018
Media category
computer
Media MARC source
rdamedia.
Media type code
c
Specific material designation
remote
System control number
(OCoLC)914481333

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