This website uses cookies

Welcome! This website uses cookies to give the best, most relevant experience. By using our website you consent to all cookies, and agree to our Privacy Policy and Terms of Use / EULA. The website is intended for adults 18 years of age or older or who are of the age of majority in their jurisdiction of residence. By accessing the website, you represent that you are 18 years of age or older.

The End of Normal: The Great Crisis and the Future of Growth

Author:
Binding: Paperback
List Price: $16.00
Our Price: $2.75 $1.75 USD
Qty Avail: 0


ISBN: 9781451644937
Publisher: Simon and Schuster
Language: English
Page Count: 291
Publication Date: 9/29/2015
Size: 8.43" l x 5.44" w x 0.77"
Series: N/A

The years since the Great Crisis of 2008 have seen slow growth, high unemployment, falling home values, chronic deficits, a deepening disaster in Europe - and a stale argument between two false solutions, "austerity" on one side and "stimulus" on the other. Both sides and practically all analyses of the crisis so far take for granted that the economic growth from the early 1950s until 2000 - interrupted only by the troubled 1970s - represented a normal performance. From this perspective, the crisis was an interruption, caused by bad policy or bad people, and full recovery is to be expected if the cause is corrected.

The End of Normal challenges this view. Placing the crisis in perspective, Galbraith argues that the 1970s already ended the age of easy growth. The 1980s and 1990s saw only uneven growth, with rising inequality within and between countries. And the 2000s saw the end even of that - despite frantic efforts to keep growth going with tax cuts, war spending, and financial deregulation. When the crisis finally came, stimulus and automatic stabilization were able to place a floor under economic collapse. But they are not able to bring about a return to high growth and full employment.

You May Also Like

Similar Items