The Roller Coaster Economy: Financial Crisis, Great Recession, and the Public Option: Financial Crisis, Great Recession, and the Public Option

by Sherman; Howard J

• ISBN13: 9780765625373
• ISBN10: 0765625377
• eBook ISBN(s): 9781317454724
• Edition: 1st
• Format: Hardcover
• Copyright: 2010-05-15
• Publisher: Routledge

Summary

Written by one of the foremost experts on the business cycle, this is a compelling and engaging explanation of how and why the economic downturn of 2007 became the Great Recession of 2008 and 2009. Author Howard Sherman explores the root causes of the cycle of boom and bust of the economy, focusing on the 2008 financial crisis and the Great Recession of 2007-2009. He makes a powerful argument that recessions and the resulting painful involuntary unemployment are inherent in capitalism itself. Sherman clearly illustrates the mechanisms of business cycles, and he provides a thoughtful alternative that would rein in their destructive effects.

Table of Contents

Preface and Acknowledgments

Problems of the Roller Coaster Economy

Boom, Bust, and Misery: The Curse of Capitalism

History of the Roller Coaster

Bush, Boom, and Bust

Diagnosing the Roller Coaster

The Income Gap

The Consumption Gap

The Housing Crisis

Investment and Profit

The Credit Balloon and the Financial Crisis

Government Spending and Taxes

The Trade Gap: How Boom and Bust Spread Around the Globe

Diagnosis and Cure of the Roller Coaster Economy

How Violent Profit Swings Cause the Roller Coaster

The Public Option for Health and Employment: How Democratization Can End the Business Cycle

References

Index

About the Authors

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