Author : Karl E. Case
Publisher : Lincoln Inst of Land Policy
Page : 417 pages
File Size : 26,73 MB
Release : 2009
Category : Business & Economics
ISBN : 9781558441842
Based on the work of Karl "Chip" Case, who is renowned for his scientific contributions to the economics of housing and public policy, this is a must read during a time of restructuring our nation's system of housing finance.
Author : Atif Mian
Publisher : University of Chicago Press
Page : 238 pages
File Size : 27,78 MB
Release : 2015-05-20
Category : Business & Economics
ISBN : 022627750X
“A concise and powerful account of how the great recession happened and what should be done to avoid another one . . . well-argued and consistently informative.” —Wall Street Journal The Great American Recession of 2007-2009 resulted in the loss of eight million jobs and the loss of four million homes to foreclosures. Is it a coincidence that the United States witnessed a dramatic rise in household debt in the years before the recession—that the total amount of debt for American households doubled between 2000 and 2007 to $14 trillion? Definitely not. Armed with clear and powerful evidence, Atif Mian and Amir Sufi reveal in House of Debt how the Great Recession and Great Depression, as well as less dramatic periods of economic malaise, were caused by a large run-up in household debt followed by a significantly large drop in household spending. Though the banking crisis captured the public’s attention, Mian and Sufi argue strongly with actual data that current policy is too heavily biased toward protecting banks and creditors. Increasing the flow of credit, they show, is disastrously counterproductive when the fundamental problem is too much debt. As their research shows, excessive household debt leads to foreclosures, causing individuals to spend less and save more. Less spending means less demand for goods, followed by declines in production and huge job losses. How do we end such a cycle? With a direct attack on debt, say Mian and Sufi. We can be rid of painful bubble-and-bust episodes only if the financial system moves away from its reliance on inflexible debt contracts. As an example, they propose new mortgage contracts that are built on the principle of risk-sharing, a concept that would have prevented the housing bubble from emerging in the first place. Thoroughly grounded in compelling economic evidence, House of Debt offers convincing answers to some of the most important questions facing today’s economy: Why do severe recessions happen? Could we have prevented the Great Recession and its consequences? And what actions are needed to prevent such crises going forward?
Author : Marcel Aucoin
Publisher : Iggybook
Page : 377 pages
File Size : 21,66 MB
Release : 2023-06-26T00:00:00+02:00
Category : Business & Economics
ISBN : 2379799571
The title ― The Economy in its House ― echoes Xenophon’s book, Œconomicus, which focuses on the relationship of a house with its environment rather than on trade. It also makes reference to a question from Socrates: "What is a house?". It is by striving to explore these relationships and questions, reflecting the conditions of our time, that we have concluded that the economy is in its house ― and that changes everything. Indeed, this leads us to establish a foundation ― new but grafted onto ancient roots ― for economics. By integrating into our theory the unpredictable environment, we provide economists with a framework to address the multiple issues that arise not only in our common home, the Earth, but also to all other houses. Our model is based on the hypothesis of the random nature of the economy, which brings us closer to modern physics and its methods. On these pillars, our model abstracts economic agents and focuses attention on the interconnected constituents of the house, both their mutual statistical relationships, and those they have with the environment. The covariance matrix that retraces such relationships indicates how the environment disrupts, on average, each constituent during a period. This gives the possibility to explore the destinies of the houses in the short, middle or long run, through crises and changing perspectives of ruin. It makes it possible to identify three essential variables: the growth factor, the growth energy, and finally the prices’ root, which is also the weight of the unit of account and an anti-ruin coefficient. One of the characteristics of modern houses is that, among their constituents, positive covariances outweigh negative covariances. Hence their growth: we explore its links with the reduction of inequalities, and its pathologies: pollution and depletion of resources. We shows how we can fight against crises and inequalities through greater solidarity. We show that one can model any house by use of a miniature house ― its soul ― with two components (the hearth and the roof), and three guiding parameters: exposure to hazards, security, and performance. With these guides, one expresses all the macroeconomic variables relative to a house. These are preserved by passing from a house ― whatever its importance ― to its soul. The wealth of the results obtained shows that the path open must allow economists to go farther and safer in their work while also enabling a broader public to better understand what the economy is.
Author : Josh Ryan-Collins
Publisher : Zed Books Ltd.
Page : 306 pages
File Size : 35,65 MB
Release : 2017-02-28
Category : Business & Economics
ISBN : 1786991217
Why are house prices in many advanced economies rising faster than incomes? Why isn’t land and location taught or seen as important in modern economics? What is the relationship between the financial system and land? In this accessible but provocative guide to the economics of land and housing, the authors reveal how many of the key challenges facing modern economies - including housing crises, financial instability and growing inequalities - are intimately tied to the land economy. Looking at the ways in which discussions of land have been routinely excluded from both housing policy and economic theory, the authors show that in order to tackle these increasingly pressing issues a major rethink by both politicians and economists is required.
Author : Marcel Aucoin
Publisher : Iggybook
Page : 379 pages
File Size : 41,70 MB
Release : 2024-10-21T00:00:00+02:00
Category : Business & Economics
ISBN : 2385760673
The economy is not in the clouds. Instead, the economy is in its own house, which protects it from environmental hazards and guides its activity and growth. Hence a new foundation for economics. This house does not have agents; it is made up of people, objects, and jobs, all interconnected by statistical links. Moreover, it has two parts: the roof that protects and the hearth that operates the production system and includes men and women. Regularly, the roof and the hearth support each other. However, when subjected to the impulse of the State, the roof can reduce the hearth to servitude. The house theory presented herein detines values. Current prices revolve around the weight of the unit of account of a given society. This weight governs exchange rates, and also the probability of ruin of the house. An original concept, the growth energy makes it possible to address with fruit many topics: growth, economic cycles, crises, inequalities, and ruin of the house. We emphasize the importance of redistribution to make crises more bearable and to support growth. One discovers that the soul of a house - a two component miniature house governed solely by three guiding parameters: exposure to vagaries, security, and performance - represents the entire house ideally. Economists, statisticians, and sociologists should appreciate the content of this book. Its methods may also interest theorists of physics and mathematicians. Finally, all people who want to understand the economy, going to the bottom of things, can find new insights herein.
Author : Peter Sander
Publisher : Simon and Schuster
Page : 168 pages
File Size : 41,54 MB
Release : 2008-12-17
Category : Business & Economics
ISBN : 1440518327
Let's face it: Today's economy sucks! There's a housing crisis, a credit crisis, and an unemployment crisis. And that's just for now. But families don't need to move into refrigerator boxes and start scrounging for spare change. This book offers readers concrete, specific strategies to: prevent foreclosure create and stick to a family budget repair bad credit ratings streamline spending save for the future and more Elected leaders and economic theories come and go. But author Peter Sander shows how to maintain financial stability, no matter who’s in charge.
Author : Manuel B. Aalbers
Publisher : Routledge
Page : 184 pages
File Size : 46,38 MB
Release : 2016-05-05
Category : Business & Economics
ISBN : 1317361784
Due to the financialization of housing in today’s market, housing risks are increasingly becoming financial risks. Financialization refers to the increasing dominance of financial actors, markets, practices, measurements and narratives. It also refers to the resulting structural transformation of economies, firms, states and households. This book asserts the centrality of housing to the contemporary capitalist political economy and places housing at the centre of the financialization debate. A global wall of money is looking for High-Quality Collateral (HQC) investments, and housing is one of the few asset classes considered HQC. This explains why housing is increasingly becoming financialized, but it does not explain its timing, politics and geography. Presenting a diverse range of case studies from the US, the UK, the Netherlands, Germany, Italy and Spain, the chapters in this book include coverage of the role of the state as the driver of financialization processes, and the part played by local and national histories and institutions. This cutting edge volume will pave the way for future research in the area. Where housing used to be something "local" or "national", the two-way coupling of housing to finance has been one crucial element in the recent crisis. It is time to reconsider the financialization of both homeownership and social housing. This book will be of interest to those who study international economics, economic geography and financialization.
Author : B. Joseph Pine
Publisher : Harvard Business Press
Page : 276 pages
File Size : 10,23 MB
Release : 1999
Category : Business & Economics
ISBN : 9780875848198
This text seeks to raise the curtain on competitive pricing strategies and asserts that businesses often miss their best opportunity for providing consumers with what they want - an experience. It presents a strategy for companies to script and stage the experiences provided by their products.
Author : Kate Raworth
Publisher : Chelsea Green Publishing
Page : 322 pages
File Size : 21,59 MB
Release : 2018-03-08
Category : Business & Economics
ISBN : 1603587969
Economics is the mother tongue of public policy. It dominates our decision-making for the future, guides multi-billion-dollar investments, and shapes our responses to climate change, inequality, and other environmental and social challenges that define our times. Pity then, or more like disaster, that its fundamental ideas are centuries out of date yet are still taught in college courses worldwide and still used to address critical issues in government and business alike. That’s why it is time, says renegade economist Kate Raworth, to revise our economic thinking for the 21st century. In Doughnut Economics, she sets out seven key ways to fundamentally reframe our understanding of what economics is and does. Along the way, she points out how we can break our addiction to growth; redesign money, finance, and business to be in service to people; and create economies that are regenerative and distributive by design. Named after the now-iconic “doughnut” image that Raworth first drew to depict a sweet spot of human prosperity (an image that appealed to the Occupy Movement, the United Nations, eco-activists, and business leaders alike), Doughnut Economics offers a radically new compass for guiding global development, government policy, and corporate strategy, and sets new standards for what economic success looks like. Raworth handpicks the best emergent ideas—from ecological, behavioral, feminist, and institutional economics to complexity thinking and Earth-systems science—to address this question: How can we turn economies that need to grow, whether or not they make us thrive, into economies that make us thrive, whether or not they grow? Simple, playful, and eloquent, Doughnut Economics offers game-changing analysis and inspiration for a new generation of economic thinkers.
Author : Josh Ryan-Collins
Publisher : John Wiley & Sons
Page : 140 pages
File Size : 33,34 MB
Release : 2018-11-26
Category : Political Science
ISBN : 1509523294
Throughout the Western world, a whole generation is being priced out of the housing market. For millions of people, particularly millennials, the basic goal of acquiring decent, affordable accommodation is a distant dream. Leading economist Josh Ryan-Collins argues that to understand this crisis, we must examine a crucial paradox at the heart of modern capitalism. The interaction of private home ownership and a lightly regulated commercial banking system leads to a feedback cycle. Unlimited credit and money flows into an inherently finite supply of property, which causes rising house prices, declining home ownership, rising inequality and debt, stagnant growth and financial instability. Radical reforms are needed to break the cycle. This engaging and topical book will be essential reading for anyone who wants to understand why they can’t find an affordable home, and what we can do about it.
