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The Great Crisis of 2008
Sub-prime loans and the bankruptcy of Lehman were the biggest headlines of the 2008 Greet Crisis. There was in fact a global credit bubble and bust...
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The Great Recession
The chapter presents the main aspects of the US financial and real crises that subsequently spread to many other industrialized countries. The great...
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Serbia: Our Greatest Fear—An Empty Country, Pawn in the Hands of Great Powers on the “Periphery of the Periphery”
Serbia’s fate is inseparably tied to the region of the Western Balkans. Unless key political actors make a bold and decisive step into the...
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Greece: The Remarkable Defeat of Euroscepticism
Greece emerged from the July 2019 national elections with one of the most stable, pro-European Union (EU) and moderate party systems in the EU. This...
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The Determination of (Real) Interest Rates During the Great Reversal
The rising inflation, that Goodhart and Pradhan foresee in the future, will raise nominal interest rates, but not necessarily real interest rates....
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Small Businesses and Their Banks: The Impact of the Great Recession
Capital is the lifeblood of small businesses, which rely on credit to start, operate, and grow. Historically, small businesses relied on banks to...
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The Failure to Predict the Great Recession
I was baffled when I realised that hardly anyone had foreseen the financial crisisCrisis financial .
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Spain: The Risk of Too High Expectations on the EU’s Role as a Problem Solver
The pro-European sentiment that remains so dominant in Spain today constitutes an unlikely consensus in a country with deep political fractures both...
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The Underperformance of Europe
In part we can attribute Europe’s economic underperformance of this past cycle to the extent of its preceding credit bubble and bust. There is no...
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What Is the Truth About the Great Recession and Increasing Inequality? Dialogues on Disputed Issues and Conflicting Theories
Have you ever puzzled over the causes of the 2007–8 financial crisis and wondered how it will affect all our futures? If so, this book is for you....
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Explaining 1929
The authors in this section of their dialogue challenge the view that the Great Depression was the fault of the Fed for not having pursued aggressive...
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The Great Depression and the New Deal
The chapter gives a concise survey of the Wall Street crash, the great depression, and the difficult recovery in the period of the New Deal. It also...
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North Sea and Baltic Sea in the Ice Age
Both the North Sea and the Baltic Sea owe their present shape to a large extent to overprinting during the Ice Age. The English Channel was formed by...
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Summary of U.S. Energy and Economic Trends
This chapter summarizes many of the US data discussed in the previous chapters into one location. Because the USA has good data and has been the...
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From Birth of Dollar Hegemony Towards the 1929 Crisis
Did the establishment of the Gold Exchange Standard at the Genoa Conference (1922) play a role in the Great Crisis of 1929? This has been a strongly...
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The Jury Is Out: Fiscal Multiplier vs. Financial Accelerator
The period when the Eurozone growth performance really started to weaken relative to the United States—the second half of 2011—coincides with a...
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Chapter 8: Gunnar Myrdal on Social Vulnerability
This chapter discusses the work of Gunnar Myrdal, the Swedish economist who was as one of the founders of the Swedish welfare state. His work centres...
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Cosmology
Cosmology is not something that immediately jumps to mind when discussing amateur astronomy, and it is true to say that the number of objects that...
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The Debt Trap: Can We Avoid It?
The stock of global debt is the immediate and most tangible impediment to the demographic fallout we have described. The extended leverage of...
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Chapter 1: Karl Marx on Capitalism
This chapter introduces two key characteristics of capitalism as analysed by Karl Marx in his book Capital. The first is the accumulation principle,...