The Road from Ruin: How to Revive Capitalism and Put America Back on Top

The Road from Ruin How to Revive Capitalism and Put America Back on Top We Have a World Class Mess Now What Amid the carnage of bankruptcies soaring unemployment and millions of families losing their homes during the financial crisis of lay the bloody corpse o

  • Title: The Road from Ruin: How to Revive Capitalism and Put America Back on Top
  • Author: Matthew Bishop Michael Green
  • ISBN: 9780307464224
  • Page: 231
  • Format: Hardcover
  • We Have a World Class Mess Now What Amid the carnage of bankruptcies, soaring unemployment, and millions of families losing their homes during the financial crisis of 2007 2009 lay the bloody corpse of a set of ideas that had underpinned the economics of the previous thirty years A system that had been delivering unprecedented prosperity on a global scale suddenWe Have a World Class Mess Now What Amid the carnage of bankruptcies, soaring unemployment, and millions of families losing their homes during the financial crisis of 2007 2009 lay the bloody corpse of a set of ideas that had underpinned the economics of the previous thirty years A system that had been delivering unprecedented prosperity on a global scale suddenly teetered on the verge of collapse Capitalism was seemingly exposed as a house of cards The blame game became a new national pastime as doomsayers predicted the end of America s leadership of the world economy We re at a crossroads, and decisions about how to reshape a discredited capitalism will profoundly affect whether the coming years will be ones of depression, stagnation, or renewed prosperity Instant analysis since the collapse of the financial system in the fall of 2008 has produced no end of ideas about what to do ranging from those of free market ideologues let the market do its work and damn the consequences to extreme government interventionists determined to keep the animal spirits of capitalism penned up.But if there is anything worse than toxic financial assets it is toxic ideas We need to reject the old orthodoxies and conventional wisdoms Matthew Bishop and Michael Green take a step back and analyze what can be learned from financial crises of the past from the Tulip Craze of the seventeenth century through the Great Depression of the 1930s, Japan s Great Deflation, and the Long Term Capital debacle of the 1990s to the unprecedented interventions of the government during the past year to set the agenda for a reformed twenty first century capitalism The result is an enlightening perspective on what set us on the road to ruin, as well as road signs to guide us back to prosperity Why bubbles are the consequence of financial innovations that generate economic breakthroughs, but why it would be wrong to abandon these inventions of the financial engineers The Road from Ruin explains how stifling innovation and risk taking comes at a huge cost to future prosperity Why the economy needed a fiscal stimulus to recover from the crisis Bishop and Green show how economic dogmatists of the Right, who opposed the stimulus, got it wrong, but warn that those on the Left who want the stimulus to run and run could usher in a new era of high inflation Why company bosses became too focused on short term results and did not see the crisis coming The Road from Ruin shows how we can get business leaders to put the interests of society ahead of their own pay packets The danger of focusing on the financial symptoms of the crisis without tackling the underlying economic causes, such as the world operating on the dollar standard Bishop and Green show why the role of the dollar as the world s reserve currency is not just a problem for the rest of the world but for the United States as well Why many of capitalism s champions especially the advocates of the efficient market hypothesis lost touch with reality The Road from Ruin provides insights into new ideas in economics that recognize how the complexity and irrationality of the human beings who make up the economy can be harnessed to build a better capitalism Remarkably, the issues we face today have presented themselves in one form or another over the past three centuries Matthew Bishop and Michael Green skillfully draw both the lessons learned and prescriptions for reform to prevent another catastrophic meltdown and put America back on top.

    • ✓ The Road from Ruin: How to Revive Capitalism and Put America Back on Top || · PDF Read by ↠ Matthew Bishop Michael Green
      231 Matthew Bishop Michael Green
    • thumbnail Title: ✓ The Road from Ruin: How to Revive Capitalism and Put America Back on Top || · PDF Read by ↠ Matthew Bishop Michael Green
      Posted by:Matthew Bishop Michael Green
      Published :2018-09-04T17:44:57+00:00

    One thought on “The Road from Ruin: How to Revive Capitalism and Put America Back on Top”

    1. A masterful analysis of the recent global economic crisis which continues in a less intensive manner at the present time. The authors present historical economic events in an easy to understand prose which is both entertaining and highly informative. Economic principles in finance, currency, trade and monetary techniques are fully explored and broken down for the reader as to how they interacted and developed in this current crisis. The authors present interesting vignettes concerning famous eco [...]

    2. This book is almost a walking contradiction. Every position put forth is a change on everyone who is not a banker, while every example in the book is about a change in banking that resulted in social, environmental and financial long-term gain. While I understand that I may be biased by my political beliefs, I do not consider those to be the cause of my disdain for the authors of this book. They want citizens to know what options are, governments to have omniscient knowledge of private affairs, [...]

    3. A history of bubbles, depressions, economic philosophy, the morality of capitalism, and everything anybody is wondering about right now in terms of the economy and how to recover from it. I can't say how helpful this book was in understanding our current economic debacle. I'm very impressed with this guy. Very worth reading.

    4. A comprehensive, if simple, book, It reads too much like an article from the economist - regulars won't find much new here.

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