• Cover; AFTER THE GREAT RECESSION; Title; Copyright; Contents; Figures; Tables; Contributors; Foreword; Preface; PART ONE: INTRODUCTION AND OVERVIEW; ONE Understanding the Great recession; 1. The Great Recession: A Brief History; 2. Mainstream Macroeconomics and the Great Recession; 3. The Case for Keynesian Insights: Outside the Mainstream; Finance and the Limits of Monetary Policy: Beyond the Zero Bound; Uncertainty and Financial Instability; What is the Source of Demand Growth in the Long Run?; 4. Where Do We Go from Here?; 5. Outline of the Chapters that Follow; References
  • TWO America's Exhausted Paradigm: Macroeconomic Causes of the Financial Crisis and Great Recession1. The Flawed U.S. Growth Model; The Post-1980 Neoliberal Growth Model; The Role of Economic Policy; The Neoliberal Bubble Economy; 2. The Flawed Model of Global Economic Engagement; The Triple Hemorrhage; NAFTA; The Response to the East Asian Financial Crisis; China and PNTR; 3. America's Exhausted Macroeconomic Paradigm; 4. Conclusion: Where Next?; References; PART TWO: EMERGENCE OF FINANCIAL INSTABILITY; THREE Minsky's Money Manager capitalism: Assessment and Reform
  • 1. A Brief Financial History of the Postwar Period2. Money Manager Capitalism and the Great Recession Crisis; 3. The End of Money Manager Capitalism?; 4. Policy to Reform the Financial System; References; FOUR Trying to Serve Two Masters: The Dilemma of Financial Regulation; 1. A Brief History of how U.S. Banking Regulation Tried to Serve Two Masters; 2. Financial Legislation and the Structure of the Financial System; The Liberalizing Power of "Incidental Powers"; 3. The Challenge and Response to Glass-Steagall Segregation of Banking and Finance
  • The Regulatory Dynamic of Innovation and ProtectionErosion of Glass-Steagall Increased Financial Instability; From Increased Financial Fragility in Originate and Distribute to Financial Instability in 2008; 4. Where Next?; References; FIVE How Bonus-Driven "Rainmaker" Financial Firms Enrich Top Employees, Destroy Shareholder Value, and Create Systemic Financia Instability; 1. Rainmaker Compensation Schemes: The Primacy of Bonuses; 2. Do Rainmaker Premiums Exist: If So, Are They Rent?; 3. How Are Rainmaker Rents Created and Sustained over Time? "False Value" and Oligopoly Power
  • 4. How Are Rainmakers Able to Capture an Exceptionally Large Share of Revenue in Good Times and Bad?Why Doesn't the Chronic Potential Excess Supply of Rainmakers Eliminate Rents?; 5. Conclusion; References; PART THREE: HOUSEHOLD SPENDING AND DEBT: SOURCES OF PAST GROWTH - SEEDS OF RECENT COLLAPSE; SIX The End of the Consumer Age; 1. Models of Household Behavior; An Overview of the Facts to Explain; The Standard Model; The Consumer Problem; Social References, Expectations, and Household Choices; 2. Evolution of Household Behavioral Norms in the Consumer Age
  • Social Pressures that Raise Desired Spending
  • Machine generated contents note: Part I. Introduction and Overview: 1. Understanding the great recession Barry Z. Cynamon, Steven M. Fazzari and Mark Setterfield; 2. America's exhausted paradigm: macroeconomic causes of the financial crisis and great recession Thomas I. Palley; Part II. Emergence of Financial Instability: 3. Minsky's money manager capitalism: assessment and reform L. Randall Wray; 4. Trying to serve two masters: the dilemma of financial regulation Jan Kregel; 5. How bonus-driven 'rainmaker' financial firms enrich top employees, destroy shareholder value, and create systemic financial instability James Crotty; Part III. Household Spending and Debt: Source of Past Growth-Seeds of Recent Collapse: 6. The end of the consumer age Barry Z. Cynamon and Steven M. Fazzari; 7. Wages, demand and US macroeconomic travails: diagnosis and prognosis Mark Setterfield; Part IV. Global Dimensions of US Crisis: 8. Global imbalances and US trade in the great recession and its aftermath Robert Blecker; Part V. Economic Policy after the Great Recession: 9. Confronting the Kindleberger moment: credit, fiscal, and regulatory policy to avoid economic disaster Gerald Epstein; 10. Fiscal policy: the recent record and lessons for the future Dean Baker; 11. No need to panic about US government deficits Barry Z. Cynamon and Steven M. Fazzari; 12. Fiscal policy for the great recession and beyond Pavlina Tcherneva; Part VI. The Way Forward: 13. Demand, finance, and uncertainty beyond the great recession Barry Z. Cynamon, Steven M. Fazzari and Mark Setterfield
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