From Financial Crisis to Global Recovery
Padma Desai
Abstract
This book is about the complexities of economic policy and financial reform. Merging a compelling narrative with scholarly research, it begins with a systematic breakdown of the factors leading to America's recent recession, describing the monetary policy, tax practices, subprime mortgage scandals, and lax regulation that contributed to the crisis. The book also discusses the Treasury-Federal Reserve rescue deals that saved several financial institutions and the involvement of Congress in passing restorative policies. The book follows with an analysis of stress tests and other economic measure ... More
This book is about the complexities of economic policy and financial reform. Merging a compelling narrative with scholarly research, it begins with a systematic breakdown of the factors leading to America's recent recession, describing the monetary policy, tax practices, subprime mortgage scandals, and lax regulation that contributed to the crisis. The book also discusses the Treasury-Federal Reserve rescue deals that saved several financial institutions and the involvement of Congress in passing restorative policies. The book follows with an analysis of stress tests and other economic measures, and it assesses whether the U.S. economy is truly on the mend. It considers the prospects for recovery in North America as a whole, as well as in Europe, Asia, and South America, and the extent and value of U.S. and E.U. regulatory proposals. Refocusing on American financial practices, the book evaluates hedge funds and derivatives, credit default swaps, and rating agencies, pondering whether the dollar can remain a reserve currency. It concludes with a historical comparison of the Great Depression and the Great Recession, weighing the effect of the economic collapse on the future of American capitalism.
Keywords:
economic policy,
financial reform,
recession,
monetary policy,
tax practices,
subprime mortgage scandals,
regulation,
U.S. economy
Bibliographic Information
| Print publication date: 2011 |
Print ISBN-13: 9780231157865 |
| Published to Columbia Scholarship Online: November 2015 |
DOI:10.7312/columbia/9780231157865.001.0001 |
