The Resource The financial crisis reconsidered : the mercantilist origin of secular stagnation and boom-bust cycles, Daniel Aronoff
The financial crisis reconsidered : the mercantilist origin of secular stagnation and boom-bust cycles, Daniel Aronoff
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The item The financial crisis reconsidered : the mercantilist origin of secular stagnation and boom-bust cycles, Daniel Aronoff represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in European University Institute.This item is available to borrow from 1 library branch.
Resource Information
The item The financial crisis reconsidered : the mercantilist origin of secular stagnation and boom-bust cycles, Daniel Aronoff represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in European University Institute.
This item is available to borrow from 1 library branch.
- Summary
- In The Financial Crisis Reconsidered, Aronoff challenges the conventional view that reckless credit produced the US housing boom and the financial crisis, explaining how the large current account deficit, and its mercantilist origin, was a more fundamental cause. He also demonstrates that the decision to provide relief for bank creditors rather than underwater homeowners was responsible for the prolonged recession that followed the crisis. Aronoff proposes a novel theory to account for the ultimate origins of secular stagnation and economic volatility. He shows how accumulation, which occurs when a person or country earns more than it ever plans to spend, generates both an excess of saving and a deficiency in demand. While savings provide the funds to promote booms, under-consumption ensures that these booms will turn bust and that the economy will fall short of its potential growth rate. Aronoff argues that mercantilists and top income earners engage in accumulation, and that the influence of both types has grown in recent decades. Combining economic theory and historical narrative, this book offers a new perspective of the housing boom and the financial crisis, concluding with innovative policy proposals to reduce accumulation without compromising the benefits of a market economy.--
- Language
- eng
- Extent
- xvi, 291 pages
- Isbn
- 9781137553683
- Label
- The financial crisis reconsidered : the mercantilist origin of secular stagnation and boom-bust cycles
- Title
- The financial crisis reconsidered
- Title remainder
- the mercantilist origin of secular stagnation and boom-bust cycles
- Statement of responsibility
- Daniel Aronoff
- Language
- eng
- Summary
- In The Financial Crisis Reconsidered, Aronoff challenges the conventional view that reckless credit produced the US housing boom and the financial crisis, explaining how the large current account deficit, and its mercantilist origin, was a more fundamental cause. He also demonstrates that the decision to provide relief for bank creditors rather than underwater homeowners was responsible for the prolonged recession that followed the crisis. Aronoff proposes a novel theory to account for the ultimate origins of secular stagnation and economic volatility. He shows how accumulation, which occurs when a person or country earns more than it ever plans to spend, generates both an excess of saving and a deficiency in demand. While savings provide the funds to promote booms, under-consumption ensures that these booms will turn bust and that the economy will fall short of its potential growth rate. Aronoff argues that mercantilists and top income earners engage in accumulation, and that the influence of both types has grown in recent decades. Combining economic theory and historical narrative, this book offers a new perspective of the housing boom and the financial crisis, concluding with innovative policy proposals to reduce accumulation without compromising the benefits of a market economy.--
- Assigning source
- Provided by Publisher
- Cataloging source
- DLC
- http://library.link/vocab/creatorDate
- 1961-
- http://library.link/vocab/creatorName
- Aronoff, Daniel
- Illustrations
- illustrations
- Index
- index present
- Literary form
- non fiction
- Nature of contents
- bibliography
- http://library.link/vocab/subjectName
-
- Global Financial Crisis, 2008-2009
- Financial crises
- Business cycles
- Mercantile system
- Label
- The financial crisis reconsidered : the mercantilist origin of secular stagnation and boom-bust cycles, Daniel Aronoff
- Bibliography note
- Includes bibliographical references (pages 239-278) and index
- Carrier category
- volume
- Carrier category code
-
- nc
- Carrier MARC source
- rdacarrier.
- Content category
- text
- Content type code
-
- txt
- Content type MARC source
- rdacontent.
- Control code
- FIEb17825672
- Dimensions
- 24 cm.
- Extent
- xvi, 291 pages
- Isbn
- 9781137553683
- Media category
- unmediated
- Media MARC source
- rdamedia.
- Media type code
-
- n
- Other physical details
- illustrations
- System control number
- (OCoLC)942705183
- Label
- The financial crisis reconsidered : the mercantilist origin of secular stagnation and boom-bust cycles, Daniel Aronoff
- Bibliography note
- Includes bibliographical references (pages 239-278) and index
- Carrier category
- volume
- Carrier category code
-
- nc
- Carrier MARC source
- rdacarrier.
- Content category
- text
- Content type code
-
- txt
- Content type MARC source
- rdacontent.
- Control code
- FIEb17825672
- Dimensions
- 24 cm.
- Extent
- xvi, 291 pages
- Isbn
- 9781137553683
- Media category
- unmediated
- Media MARC source
- rdamedia.
- Media type code
-
- n
- Other physical details
- illustrations
- System control number
- (OCoLC)942705183
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<div class="citation" vocab="http://schema.org/"><i class="fa fa-external-link-square fa-fw"></i> Data from <span resource="http://link.library.eui.eu/portal/The-financial-crisis-reconsidered--the/UEQjkpgy6jY/" typeof="Book http://bibfra.me/vocab/lite/Item"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.library.eui.eu/portal/The-financial-crisis-reconsidered--the/UEQjkpgy6jY/">The financial crisis reconsidered : the mercantilist origin of secular stagnation and boom-bust cycles, Daniel Aronoff</a></span> - <span property="potentialAction" typeOf="OrganizeAction"><span property="agent" typeof="LibrarySystem http://library.link/vocab/LibrarySystem" resource="http://link.library.eui.eu/"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="http://link.library.eui.eu/">European University Institute</a></span></span></span></span></div>
