UID:
almahu_9949285319402882
Format:
XXII, 312 p.
,
online resource.
Edition:
2nd ed. 2009.
ISBN:
9783642030482
Content:
What are the roots of the present economic crisis? The book shows that the factors commonly mentioned (e. g. subprime loans, fall in housing prices) have occurred in the past and therefore cannot account for the severity of the present crisis. There must be "something else". The analysis shows that there was a "phase transition" in the United States around 1975 which brought the following changes: - The stagnation of real wages over the past 30 years and a parallel rise in indebtment levels. - The abrupt fall in unionization rates and in the number of strikes. - The development of tax havens which deprived states of tax revenue. - The globalization of financial transactions which hinders long-term investment.
Note:
PROLOGUE -- Overall view of speculative markets -- HIDDEN COLLECTIVE DETERMINANTS -- Rational? -- Joint crashes -- Contagion of speculative frenzy -- REGULARITIES IN SPECULATIVE EPISODES -- Peak amplitude: the price multiplier effect -- Peak shape: the sharp peak - flat trough pattern -- Stock market bubbles -- THE TRIUMPH OF NEOLIBERALISM -- Triumph of neoliberalism in economics -- Triumph of neoliberalism in society -- Triumph of neoliberalism in finance -- Is there a way out?.
In:
Springer Nature eBook
Additional Edition:
Printed edition: ISBN 9783642030499
Additional Edition:
Printed edition: ISBN 9783642424144
Additional Edition:
Printed edition: ISBN 9783642030475
Language:
English
DOI:
10.1007/978-3-642-03048-2
URL:
https://doi.org/10.1007/978-3-642-03048-2
