Econned How Unenlightened Self Interest Undermined Democracy And Corrupted Capitalism

Author by : Yves Smith
Languange : en
Publisher by : St. Martin's Press
Format Available : PDF, ePub, Mobi
Total Read : 64
Total Download : 157
File Size : 42,8 Mb
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Description : Why are we in such a financial mess today? There are lots of proximate causes: over-leverage, global imbalances, bad financial technology that lead to widespread underestimation of risk. But these are all symptoms. Until we isolate and tackle fundamental causes, we will fail to extirpate the disease. ECONned is the first book to examine the unquestioned role of economists as policy-makers, and how they helped create an unmitigated economic disaster. Here, Yves Smith looks at how economists in key policy positions put doctrine before hard evidence, ignoring the deteriorating conditions and rising dangers that eventually led them, and us, off the cliff and into financial meltdown. Intelligently written for the layman, Smith takes us on a terrifying investigation of the financial realm over the last twenty-five years of misrepresentations, naive interpretations of economic conditions, rationalizations of bad outcomes, and rejection of clear signs of growing instability. In eConned, author Yves Smith reveals: --why the measures taken by the Obama Administration are mere palliatives and are unlikely to pave the way for a solid recovery --how economists have come to play a profoundly anti-democratic role in policy --how financial models and concepts that were discredited more than thirty years ago are still widely used by banks, regulators, and investors --how management and employees of major financial firms looted them, enriching themselves and leaving the mess to taxpayers --how financial regulation enabled predatory behavior by Wall Street towards investors --how economics has no theory of financial systems, yet economists fearlessly prescribe how to manage them


Econned

Author by : Yves Smith
Languange : en
Publisher by : Palgrave Macmillan
Format Available : PDF, ePub, Mobi
Total Read : 67
Total Download : 197
File Size : 41,6 Mb
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Description : Why are we in such a financial mess today? There are lots of proximate causes: over-leverage, global imbalances, bad financial technology that lead to widespread underestimation of risk. But these are all symptoms. Until we isolate and tackle fundamental causes, we will fail to extirpate the disease. ECONned is the first book to examine the unquestioned role of economists as policy-makers, and how they helped create an unmitigated economic disaster. Here, Yves Smith looks at how economists in key policy positions put doctrine before hard evidence, ignoring the deteriorating conditions and rising dangers that eventually led them, and us, off the cliff and into financial meltdown. Intelligently written for the layman, Smith takes us on a terrifying investigation of the financial realm over the last twenty-five years of misrepresentations, naive interpretations of economic conditions, rationalizations of bad outcomes, and rejection of clear signs of growing instability. In eConned, author Yves Smith reveals: --why the measures taken by the Obama Administration are mere palliatives and are unlikely to pave the way for a solid recovery --how economists have come to play a profoundly anti-democratic role in policy --how financial models and concepts that were discredited more than thirty years ago are still widely used by banks, regulators, and investors --how management and employees of major financial firms looted them, enriching themselves and leaving the mess to taxpayers --how financial regulation enabled predatory behavior by Wall Street towards investors --how economics has no theory of financial systems, yet economists fearlessly prescribe how to manage them


Disordered Minds

Author by : Ian Hughes
Languange : en
Publisher by : John Hunt Publishing
Format Available : PDF, ePub, Mobi
Total Read : 25
Total Download : 335
File Size : 54,6 Mb
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Description : Disordered Minds offers a compelling and timely account of the dangers posed by narcissistic leaders, and provides a stark warning that the conditions in which this psychopathy flourishes - extremes of social inequality and a culture of hyper-individualism - are the hallmarks of our present age. 'An excellent account of how malignant narcissism is evident in the lives of the great dictators, and how the conditions in which this psychopathy flourishes have returned to haunt us.' Dr Kieran Keohane, editor of The Social Pathologies of Contemporary Civilization


Extreme Money

Author by : Satyajit Das
Languange : en
Publisher by : FT Press
Format Available : PDF, ePub, Mobi
Total Read : 59
Total Download : 312
File Size : 47,8 Mb
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Description : Everything from home mortgages to climate change has become financialized, as vast fortunes are generated by individuals who build nothing of lasting value. Das shows how "extreme money" has become ever more unreal; how "voodoo banking" continues to generate massive phony profits even now; and how a new generation of "Masters of the Universe" has come to domiinate the world.


The Watchdog That Didn T Bark

Author by : Dean Starkman
Languange : en
Publisher by : Columbia University Press
Format Available : PDF, ePub, Mobi
Total Read : 91
Total Download : 925
File Size : 43,6 Mb
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Description : In this sweeping, incisive post mortem, Dean Starkman exposes the critical shortcomings that softened coverage in the business press during the mortgage era and the years leading up to the financial collapse of 2008. He locates the roots of the problem in the origin of business news as a market messaging service for investors in the early twentieth century. This access-dependent strain of journalism was soon opposed by the grand, sweeping work of the muckrakers. Propelled by the innovations of Bernard Kilgore, the great postwar editor of the Wall Street Journal, these two genres merged when mainstream American news organizations institutionalized muckraking in the 1960s, creating a powerful guardian of the public interest. Yet as the mortgage era dawned, deep cultural and structural shifts—some unavoidable, some self-inflicted—eroded journalism's appetite for its role as watchdog. The result was a deafening silence about systemic corruption in the financial industry. Tragically, this silence grew only more profound as the mortgage madness reached its terrible apogee from 2004 through 2006. Starkman frames his analysis in a broad argument about journalism itself, dividing the profession into two competing approaches—access reporting and accountability reporting—which rely on entirely different sources and produce radically different representations of reality. As Starkman explains, access journalism came to dominate business reporting in the 1990s, a process he calls "CNBCization," and rather than examining risky, even corrupt, corporate behavior, mainstream reporters focused on profiling executives and informing investors. Starkman concludes with a critique of the digital-news ideology and corporate influence, which threaten to further undermine investigative reporting, and he shows how financial coverage, and journalism as a whole, can reclaim its bite.


Too Many People

Author by : Ian Angus
Languange : en
Publisher by : Haymarket Books
Format Available : PDF, ePub, Mobi
Total Read : 25
Total Download : 958
File Size : 50,5 Mb
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Description : Too Many People? provides a clear, well-documented, and popularly written refutation of the idea that "overpopulation" is a major cause of environmental destruction, arguing that a focus on human numbers not only misunderstands the causes of the crisis, it dangerously weakens the movement for real solutions. No other book challenges modern overpopulation theory so clearly and comprehensively, providing invaluable insights for the layperson and environmental scholars alike. Ian Angus is editor of the ecosocialist journal Climate and Capitalism, and Simon Butler is co-editor of Green Left Weekly.


Governing The World

Author by : Mark Mazower
Languange : en
Publisher by : Penguin
Format Available : PDF, ePub, Mobi
Total Read : 14
Total Download : 600
File Size : 42,9 Mb
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Description : The story of global cooperation between nations and peoples is a tale of dreamers goading us to find common cause in remedying humanity’s worst problems. But international institutions have also provided a tool for the powers that be to advance their own interests and stamp their imprint on the world. Mark Mazower’s Governing the World tells the epic story of that inevitable and irresolvable tension—the unstable and often surprising alchemy between ideas and power. From the beginning, the willingness of national leaders to cooperate has been spurred by crisis: the book opens in 1815, amid the rubble of the Napoleonic Empire, as the Concert of Europe was assembled with an avowed mission to prevent any single power from dominating the continent and to stamp out revolutionary agitation before it could lead to war. But if the Concert was a response to Napoleon, internationalism was a response to the Concert, and as courts and monarchs disintegrated they were replaced by revolutionaries and bureaucrats. 19th century internationalists included bomb-throwing anarchists and the secret policemen who fought them, Marxist revolutionaries and respectable free marketeers. But they all embraced nationalism, the age’s most powerful transformative political creed, and assumed that nationalism and internationalism would go hand in hand. The wars of the twentieth century saw the birth of institutions that enshrined many of those ideals in durable structures of authority, most notably the League of Nations in World War I and the United Nations after World War II. Throughout this history, we see that international institutions are only as strong as the great powers of the moment allow them to be. The League was intended to prop up the British empire. With Washington taking over world leadership from Whitehall, the United Nations became a useful extension of American power. But as Mazower shows us, from the late 1960s on, America lost control over the dialogue and the rise of the independent Third World saw a marked shift away from the United Nations and toward more pliable tools such as the World Bank and the International Monetary Fund. From the 1990s to 2007, Governing the World centers on a new regime of global coordination built upon economic rule-making by central bankers and finance ministers, a regime in which the interests of citizens and workers are trumped by the iron logic of markets. Now, the era of Western dominance of international life is fast coming to an end and a new multi-centered global balance of forces is emerging. We are living in a time of extreme confusion about the purpose and durability of our international institutions. History is not prophecy, but Mark Mazower shows us why the current dialectic between ideals and power politics in the international arena is just another stage in an epic two-hundred-year story.


University Of British Columbia Law Review

Author by : University of British Columbia
Languange : en
Publisher by :
Format Available : PDF, ePub, Mobi
Total Read : 35
Total Download : 800
File Size : 45,8 Mb
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Description :