Great Bubbles, vol 3


Book Description

Periods of euphoria followed by sudden crashes are a familiar phenomenon in economics. Such events have become known as "bubbles". These volumes bring together writings on such phenomena - with works centering upon some of the more colourful examples.




Great Bubbles, vol 1


Book Description

Periods of euphoria followed by sudden crashes are a familiar phenomenon in economics. Such events have become known as "bubbles". These volumes bring together writings on such phenomena - with works centering upon some of the more colourful examples.




Great Bubbles, vol 2


Book Description

Periods of euphoria followed by sudden crashes are a familiar phenomenon in economics. Such events have become known as "bubbles". These volumes bring together writings on such phenomena - with works centering upon some of the more colourful examples.




The Great Crash of 1929


Book Description

Understanding the American stock market boom and bust of the 1920s is vital for formulating policies to combat the potentially deleterious effects of busts on the economy. Using new data, Kabiri explains what led to the 1920s stock market boom and 1929 crash and looks at whether 1929 was a bubble or not and whether it could have been anticipated.




Habermas’s Public Sphere


Book Description

Habermas’s Public Sphere: A Critique analyzes the evolution of Juergen Habermas’s social and political theory from the 1950s to the present by focusing on the explicit and on the tacit changes in his thinking about The Structural Transformation of the Public Sphere, his global academic bestseller, which has been translated into 30 languages. Integrating “public sphere,” “discourse,” and “reason,” the three categories at the center of his lifelong work as a scholar and as a public intellectual, Habermas’s classic public sphere concept has deeply influenced an unusually high number of disciplines in the social sciences and in the humanities. In the process, its complex methodology, whose sources are not always identified, can be perplexing and therefore lead to misunderstandings. While Habermas’s “Further Reflections on the Public Sphere” (1992) contain several far-reaching clarifications, they still do not identify a number of the most important sources for his methodology, above all Herbert Marcuse and Ernst Bloch. Hence, a key purpose of this study is to thoroughly analyze the Marxist critique of ideology that Habermas uses in dialectical fashion for his theory reconstruction of Immanuel Kant’s liberal ideal of a rational-critical public as the organizational principle of the constitutional state and as the method of Enlightenment. Such dialectical thinking allows him to appropriate the structure of Reinhart Koselleck’s Critique and Crisis and of Carl Schmitt’s writings on the modern state while simultaneously upending their conservative critique of Liberalism and of the Enlightenment. However, this strategy restricts the application of his concept to his stylizations of the French Revolution and of his British “model case.” This critique reinvigorates Habermas’s seminal distinction between the purely political polis of antiquity, which excludes the private economy from the res publica, and the modern public sphere with its rational-critical discourse about commodity exchange and social labor in the political economy. At the same time, it identifies the crises of seventeenth-century England and the Dutch Republic as the origins of the new channels of public communication used to constantly evaluate the role of state power as political facilitator and regulator of an increasingly complex, dynamic, and crisis-prone market economy.




Women and Their Money 1700-1950


Book Description

This book, the first of its kind, will be of interest across several disciplines including economics, economic history, business history, British history and women/gender history The fact that the essays reach beyond Britain and include work on Germany, Australia, Italy, Canada, Sweden and the West Indies will stimulate interest throughout (and even beyond) the English speaking world There is a growing interest in the study of women’s economic activity, which reflects the recognition that economics and economic/business history are not gender neutral subjects




The Great Financial Crisis


Book Description

In the fall of 2008, the United States was plunged into a financial crisis more severe than any since the Great Depression. As banks collapsed and the state scrambled to organize one of the largest transfers of wealth in history, many—including economists and financial experts—were shocked by the speed at which events unfolded. In this new book, John Bellamy Foster and Fred Magdoff offer a bold analysis of the financial meltdown, how it developed, and the implications for the future. They examine the specifics of the housing bubble and the credit crunch as well as situate current events within a broader crisis of monopoly-finance capitalism—one that has been gestating for several decades. It is the "real" productive economy's tendency toward stagnation, they argue, that creates a need for capital to find ways to profitably invest its surplus. But rather than invest in socially useful projects that would benefit the vast majority, capital has constructed a financialized "casino" economy that neglects social needs and, as has become increasingly clear, is fatally unstable. Written over a two-year period immediately prior to the onset of the crisis, this timely and illuminating book is necessary reading for all those who wish to understand the current situation, how we got here, and where we are heading.




The Day the Bubble Burst


Book Description

The New York Times bestseller that tells the story of an overheated stock market and the financial disaster that led to the Great Depression of the 1930s. A riveting living history about Black Tuesday, October 29, 1929. Captures the era, the intoxicating expectancy, the hope that ruled men’s heart and minds before the bubble burst and the black despair of the decade that followed.




The Bubble Economy


Book Description

Why the global economy has become increasingly unstable, and how financial “de-carbonization” could break the pattern of bubble-driven wealth destruction. The global economy has become increasingly, perhaps chronically, unstable. Since 2008, we have heard about the housing bubble, subprime mortgages, banks “too big to fail,” financial regulation (or the lack of it), and the European debt crisis. Wall Street has discovered that it is more profitable to make money from other people's money than by investing in the real economy, which has limited access to capital—resulting in slow growth and rising inequality. What we haven't heard much about is the role of natural resources—energy in particular—as drivers of economic growth, or the connection of “global warming” to the economic crisis. In The Bubble Economy, Robert Ayres—an economist and physicist—connects economic instability to the economics of energy. Ayres describes, among other things, the roots of our bubble economy (including the divergent influences of Senator Carter Glass—of the Glass-Steagall Law—and Ayn Rand); the role of energy in the economy, from the “oil shocks” of 1971 and 1981 through the Iraq wars; the early history of bubbles and busts; the end of Glass-Steagall; climate change; and the failures of austerity. Finally, Ayres offers a new approach to trigger economic growth. The rising price of fossil fuels (notwithstanding “fracking”) suggests that renewable energy will become increasingly profitable. Ayres argues that government should redirect private savings and global finance away from home ownership and toward “de-carbonization”—investment in renewables and efficiency. Large-scale investment in sustainability will achieve a trifecta: lowering greenhouse gas emissions, stimulating innovation-based economic growth and employment, and offering long-term investment opportunities that do not depend on risky gambling strategies with derivatives.




Bubble in the Sun


Book Description

Christopher Knowlton, author of Cattle Kingdom and former Fortune writer, takes an in-depth look at the spectacular Florida land boom of the 1920s and shows how it led directly to the Great Depression. The 1920s in Florida was a time of incredible excess, immense wealth, and precipitous collapse. The decade there produced the largest human migration in American history, far exceeding the settlement of the West, as millions flocked to the grand hotels and the new cities that rose rapidly from the teeming wetlands. The boom spawned a new subdivision civilization—and the most egregious large-scale assault on the environment in the name of “progress.” Nowhere was the glitz and froth of the Roaring Twenties more excessive than in Florida. Here was Vegas before there was a Vegas: gambling was condoned and so was drinking, since prohibition was not enforced. Tycoons, crooks, and celebrities arrived en masse to promote or exploit this new and dazzling American frontier in the sunshine. Yet, the import and deep impact of these historical events have never been explored thoroughly until now. In Bubble in the Sun Christopher Knowlton examines the grand artistic and entrepreneurial visions behind Coral Gables, Boca Raton, Miami Beach, and other storied sites, as well as the darker side of the frenzy. For while giant fortunes were being made and lost and the nightlife raged more raucously than anywhere else, the pure beauty of the Everglades suffered wanton ruination and the workers, mostly black, who built and maintained the boom, endured grievous abuses. Knowlton breathes dynamic life into the forces that made and wrecked Florida during the decade: the real estate moguls Carl Fisher, George Merrick, and Addison Mizner, and the once-in-a-century hurricane whose aftermath triggered the stock market crash. This essential account is a revelatory—and riveting—history of an era that still affects our country today.