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The Great Financial Crisis that began in 2007 reminds us with
devastating force that financial instability and crises are endemic
to capitalist economies, and that it is only strong and
dynamically-changing financial regulations that can keep the damage
caused by these crises within bounds. The international financial
system and individual national economies, including that of the
United States, are suffering from the aftermath of the worst
financial crisis since the Great Depression. Economists are
struggling to understand the origins and implications of the
crisis. The Handbook of the Political Economy of Financial Crises
uses a political economy theoretical framework to analyze the
crisis. After an opening chapter that describes the dimensions of
the current crisis, the next section provides relevant theoretical
frameworks. Subsequent sections apply these theoretical frameworks
to analyze the background, dimensions, and implications of the
crisis for the world economy. Leading scholars push forward our
understanding of how and why our international and domestic
economies are susceptible to financial breakdown and what can be
done to mitigate this problem in the future. The methodology
throughout applies theoretical concepts in the context of an
historical and institutional understanding of the real world. By
emphasizing the historical and institutional aspects of financial
crises, the authors advance economic knowledge and provide insights
into how we can manage our financial system to improve the lives of
ordinary people.
The Great Financial Crisis that began in 2007-2008 reminds us with
devastating force that financial instability and crises are endemic
to capitalist economies that lack powerful and dynamically changing
financial regulations that can keep the powerful forces of leverage
and credit within sustainable bounds. Economists from Marx to
Keynes, and Minsky to Kindleberger have well understood this
profoundly important fact, yet the dominant mainstream economics of
"rational expectations", "efficient markets" and "laissez-faire"
that rationalized widespread financial liberalization and still
dominates the economics profession has gotten it, literally, "dead
wrong". This Handbook of The Political Economy of Financial Crises
describes the theoretical, institutional, and historical factors
that can help us understand the forces that create financial crises
- with an emphasis on the crisis of 2007- 2008 - and the strengths
and weaknesses of varying theoretical perspectives and policy
approaches that have tried to comprehend and limit these financial
tsunamis.
This is a reproduction of a book published before 1923. This book
may have occasional imperfections such as missing or blurred pages,
poor pictures, errant marks, etc. that were either part of the
original artifact, or were introduced by the scanning process. We
believe this work is culturally important, and despite the
imperfections, have elected to bring it back into print as part of
our continuing commitment to the preservation of printed works
worldwide. We appreciate your understanding of the imperfections in
the preservation process, and hope you enjoy this valuable book.
This is a reprint of a previously published work. It is a
thoughtful presentaton of theauthors' personal style of pediatric
practice. It treats office design and procedure, important medical
techniques, and routine, self-limited childhood illnesses and
injuries.
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