This provocative look at the global financial crisis argues that
the United States, the European Union and Japan have intentionally
and unwittingly adopted wrong-headed economic policies in a futile
attempt to deal with sovereign debt resulting from the global
financial crisis. It offers persuasive evidence of how the politics
of austerity fail to encourage economic recovery, and proposes
instead a number of alternative ideas and solutions. The book
begins with a detailed breakdown of the financial crisis and the
government response in the United States, with particular focus on
the Dodd-Frank Wall Street Reform and Consumer Protection Act. The
author then puts forth a basic three-part plan calling for (1)
fundamental tax and entitlement reform; (2) massive economic
stimulus in the form of public and private investment to modernize
the country's aging infrastructures; and (3) mortgage relief to
revitalize the nation's housing markets. The book concludes with
specific policy proposals designed to achieve these goals and
return the US economy to a state of full employment and robust
economic growth. This timely and insightful volume will appeal to
students and scholars of economics, public policy and finance, as
well as anyone with an interest in the recent economic history of
the United States.
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