The Shifts and the Shocks · What we’ve learned – and have still to learn – from the financial crisis by Wolf, Martin -- Read -- Imperial Library of Trantor

Index

Title Page Dedication List of Figures Preface: Why I Wrote this Book Introduction: ‘We’re not in Kansas any more’

OUTLINE OF THE ANALYSIS WHY THE SHOCKS MATTER

The Shifts and the Shocks

Part One: THE SHOCKS

Prologue 1: From Crisis to Austerity

THE SCALE OF THE CRISIS CRISIS AND RESCUE IN HIGH-INCOME COUNTRIES RECOVERY IN THE BIG HIGH-INCOME COUNTRIES THE ECONOMICS OF POST-CRISIS DE-LEVERAGING FROM STIMULUS TO AUSTERITY CONCLUSION

2: The Crisis in the Eurozone

THE ROLLING CRISES UNDERSTANDING THE CRISIS MISUNDERSTANDING THE CRISIS THE ECONOMIC CONSEQUENCES OF THE CRISIS CONCLUSION

3: Brave New World

CRISIS AND RECOVERY IN EMERGING ECONOMIES THE RESILIENCE OF EMERGING ECONOMIES MIRROR IMAGES IN ECONOMIC PERFORMANCE THE CHALLENGES AHEAD GLOBAL REBALANCING CONCLUSION

Part Two: THE SHIFTS

Prologue 4: How Finance Became Fragile

WHY FINANCIAL CRISES ARE ENDEMIC THE SHIFT TOWARDS FRAGILITY LIBERALIZATION GLOBALIZATION HOW POLICYMAKERS FAILED CONCLUSION

5: How the World Economy Shifted

THE SHIFT INTO THE GLOBAL SAVINGS SURFEIT THE SHIFT INTO THE GLOBAL IMBALANCES SAVINGS AND CREDIT CREDIT BUBBLES AND MONETARY POLICY THE EUROZONE FINANCIAL CRISIS UNDERLYING DRIVERS OF THE GLOBAL SHIFTS CONCLUSION

Part Three: THE SOLUTIONS

Prologue 6: Orthodoxy Overthrown

THE FAILURE OF OFFICIAL ECONOMICS THE OFFICIAL RESPONSE TO ITS ERRORS ALTERNATIVES TO THE NEW ORTHODOXY CONCLUSION

7: Fixing Finance

CLOSING STABLE DOORS A LABOUR OF SISYPHUS THE CASE FOR RADICAL REFORM A CAPITAL SOLUTION BEING MACRO-PRUDENT CONCLUSION

8: The Long Journey Ahead

THE SLUMP HOW TO STIMULATE ECONOMIES HOW TO RESTRUCTURE DEBT STRUCTURAL LIMITS AND SECULAR STAGNATION GLOBAL REFORM MONETARY FINANCING THE CASE FOR ACTION

9: Mending a Bad Marriage

HONEYMOON ILLUSIONS LIVING IN A BAD MARRIAGE FEAR OF DIVORCE TOWARDS A GOOD MARRIAGE WHY THE ROAD AHEAD IS HARD

Conclusion: Fire Next Time

WHAT HAPPENED? CONCLUSION WHAT IS THE LEGACY? WHAT IS TO BE DONE? THE CHALLENGE OF RADICAL REFORM WHY THIS MATTERS

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