The Politics Of Inflation And Economic Stagnation
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The Politics Of Inflation And Economic Stagnation
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Author : Leon Lindberg
language : en
Publisher: Brookings Institution Press
Release Date : 1985-06-01
The Politics Of Inflation And Economic Stagnation written by Leon Lindberg and has been published by Brookings Institution Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1985-06-01 with Political Science categories.
The inflation of the 1970s represented the greatest peacetime disruption of the Western economies since the Depression. Even as inflation receded, the recession in its wake brought more joblessness than at any time since the 1930s. The governments of industrialized nations found that the economic policies they had developed since World War II no longer assured price stability or high employment. What are the lessons of over a decade of economic difficulty? In this conference volume, which focuses on aspects of the crisis that economists often presuppose to be beyond control, the authors analyze the political and social underpinning of inflation and recession. Part 1 places the economic problems of the 1970s in the historical context of postwar development and then compares economic and political science analyses of inflation. Part 2 examines how rivalries between social groups affect inflationary processes. One chapter draws on the history of Latin American inflation to suggest the conflicts in play. Two others weigh the role of labor and industry in the formation of economic policy. And another shows how rivalry between countries, like rivalry between classes at home, permitted inflation to rise. The chapters in part 3 contest the claim that big government or big labor causes inflation. Two studies emphasize that a high degree of public expenditure does not itself lead to inflation. Further contributions explore the role of central banks and subject such concepts as the political business cycle to critical analysis. Part 4 comprises case studies about macroeconomic policymaking in four nations: Italy, Germany, Japan, and Sweden. The studies reveal what institutional attributes rendered those countries resistant to inflation or vulnerable to economic setback. In the last part, the editors pull together the findings and lay out the contemporary political feasibility of alternative approaches to macroeconomic management.
The Politics Of Inflation And Economic Stagnation
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Author : Leon N. Lindberg
language : en
Publisher: Brookings Institution Press
Release Date : 1985-01-01
The Politics Of Inflation And Economic Stagnation written by Leon N. Lindberg and has been published by Brookings Institution Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1985-01-01 with Business & Economics categories.
In this conference volume, which focuses on aspects of the crisis that economists often presuppose to be beyond control, the authors analyze the political and social underpinning of inflation and recession.
The Politics Of Inflation
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Author : Committee on Atlantic Studies
language : en
Publisher: Pergamon
Release Date : 1982
The Politics Of Inflation written by Committee on Atlantic Studies and has been published by Pergamon this book supported file pdf, txt, epub, kindle and other format this book has been release on 1982 with Business & Economics categories.
Inflation Recession And Economic Policy
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Author : Hyman P. Minsky
language : en
Publisher: Brighton, Sussex : Wheatsheaf Books
Release Date : 1982
Inflation Recession And Economic Policy written by Hyman P. Minsky and has been published by Brighton, Sussex : Wheatsheaf Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 1982 with Business & Economics categories.
Economic Stagnation Fixed Factors And Policy Thresholds
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Author : William Russell Easterly
language : en
Publisher: World Bank Publications
Release Date : 1991
Economic Stagnation Fixed Factors And Policy Thresholds written by William Russell Easterly and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with Economic development categories.
Economic policies, not initial conditions, determine whether countries stagnate. The black market premium on foreign exchange is an important factor in stagnation.
Japan S Policy Trap
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Author : Akio Mikuni
language : en
Publisher: Rowman & Littlefield
Release Date : 2004-05-13
Japan S Policy Trap written by Akio Mikuni and has been published by Rowman & Littlefield this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-05-13 with Business & Economics categories.
Until quite recently, the Japanese inspired a kind of puzzled awe. They had pulled themselves together from the ruin of war, built at breakneck speed a formidable array of export champions, and emerged as the world's number-two economy and largest net creditor nation. And they did it by flouting every rule of economic orthodoxy. But today only the puzzlement remains—at Japan's inability to arrest its economic decline, at its festering banking crisis, and at the dithering of its policymakers. Why can't the Japanese government find the political will to fix the country's problems? Japan's Policy Trap offers a provocative new analysis of the country's protracted economic stagnation. Japanese insider Akio Mikuni and long-term Japan resident R. Taggart Murphy contend that the country has landed in a policy trap that defies easy solution. The authors, who have together spent decades at the heart of Japanese finance, expose the deep-rooted political arrangements that have distorted Japan's monetary policy in a deflationary direction. They link Japan's economic difficulties to the Achilles' heel of the U.S. economy: the U.S. trade and current accounts deficits. For the last twenty years, Japan's dollar-denominated trade surplus has outstripped official reserves and currency in circulation. These huge accumulated surpluses have long exercised a growing and perverse influence on monetary policy, forcing Japan's authorities to support a build-up of deflationary dollars. Mikuni and Murphy trace the origins of Japan's policy trap far back into history, in the measures taken by Japan's officials to preserve their economic independence in what they saw as a hostile world. Mobilizing every resource to accumulate precious dollars, the authorities eventually found themselves coping with a hoard they could neither use nor exchange. To counteract the deflationary impact, Japanese authorities resorted to the creation of yen liabilities unrelated to production via the large
Economics Politics And The Age Of Inflation
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Author : Paul Mattick
language : en
Publisher: Routledge
Release Date : 2017-03-16
Economics Politics And The Age Of Inflation written by Paul Mattick and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-03-16 with Business & Economics categories.
Originally published in 1978, the essays in this text discuss issues surrounding inflation, governmental roles in economic matters and varying economic systems and theories with a particular lean towards discussing capitalism evaluating how all of these factors affect the economic state of America. Mattick takes on the view that Economics is not an exact science and calls into question its predictive powers and as such, emphasises the issues that he felt needed most attention at the time of writing. This title will be of interest to students of economics and politics.
The Political Economy Of Inflation
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Author : Fred Hirsch
language : en
Publisher: Cambridge, Mass. : Harvard University Press
Release Date : 1978
The Political Economy Of Inflation written by Fred Hirsch and has been published by Cambridge, Mass. : Harvard University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1978 with Business & Economics categories.
Japan S Great Stagnation
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Author : W. R. Garside
language : en
Publisher: Edward Elgar Publishing
Release Date : 2012-01-01
Japan S Great Stagnation written by W. R. Garside and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-01-01 with Business & Economics categories.
'Recent events have rendered Japan's lost decades all the more relevant to the rest of us. Rick Garside, in this wide-ranging and accessible account, explores the political economy of Japan's great stagnation with an eye toward describing how other advanced economies can avoid going down the same path.' – Barry Eichengreen, University of California, Berkeley, US 'Professor Garside's timely book transcends the national preoccupation suggested by its title. From one viewpoint this is a case study (admittedly on a grand scale) of the experience of one country in one historical period. But in analyzing the dynamic relationship between Japan's post-war economic miracle and its chronic stagnation from the 1990's he offers a penetrating insight into the links between profound and embedded institutional and ideological influences, global upheaval, and almost disastrous national economic performance. Hence, Japan's Great Stagnation – the unfolding story of that country's declining experience from masterful economic power to seeming economic paralysis – provides us with an all-too familiar scenario with which to approach the contemporaneous ills of the world's developed economies. The interaction between banking crises, unwieldy institutions (especially, but not only, financial institutions), policy frailties, and stagnating demand – all conspired to create crisis and then handicap or prevent recovery. And the familiarity of the story is aggravated by the global financial crisis which now threatens to engulf us. History never fully repeats itself, but Professor Garside's illuminating examination of Japan's recent experiences must surely provide important points of relevance for the world's current malaise. He is to be congratulated on the depth and scope of what he has achieved – and for its relevance to what we are experiencing.' – Barry Supple, University of Cambridge, UK This timely book presents a critical examination of the developmental premises of Japan's high-growth success and its subsequent drift into recession, stagnation and piecemeal reform. The country, which within a few decades of wartime defeat mounted a serious challenge to American hegemony, appeared incapable of fully adjusting to shifting economic circumstance once the impulses of catch-up growth and the good fortune of an accommodating international environment faded. The banking crises, spiralling government debt, and stagnant growth experienced by major industrialized nations in recent years have evoked renewed interest in Japan's economic denouement since the 1990s. To many, Japan's drift into recession and financial crisis during the early 1990s, and later into stagnation and prolonged deflation, demonstrated precisely what not to do when fashioning remedial policy. This book details the legacies of Japan's high-growth success and how they affected Japan's capacity to cope with shifting national and international circumstance from the 1980s. It reviews the contentious debates over the causes and consequences of the 'bubble economy' and the 'lost decade', and assesses the extent to which reforms since 1997 have been compromised by lingering attachments to Japan's distinctive post-war political economy. Providing an analytical overview of both the high growth and recessionary periods and of subsequent reform agendas, this timely book will appeal to students, academics and researchers of economic history, development and politics, particularly those with an interest in Japan and Asian studies more generally.
The Great Inflation And Its Aftermath
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Author : Robert J. Samuelson
language : en
Publisher: Random House
Release Date : 2008-11-11
The Great Inflation And Its Aftermath written by Robert J. Samuelson and has been published by Random House this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-11-11 with Business & Economics categories.
The Great Inflation in the 1960s and 1970s, notes award-winning columnist Robert J. Samuelson, played a crucial role in transforming American politics, economy, and everyday life. The direct consequences included stagnation in living standards, a growing belief—both in America and abroad—that the great-power status of the United States was ending, and Ronald Reagan’s election to the presidency in 1980. But that is only half the story. The end of high inflation led to two decades of almost uninterrupted economic growth, rising stock prices and ever-increasing home values. Paradoxically, this prolonged prosperity triggered the economic and financial collapse of 2008 and 2009 by making Americans—from bank executives to ordinary homeowners—overconfident, complacent, and careless. The Great Inflation and its Aftermath, Samuelson contends, demonstrated that we have not yet escaped the boom-and-bust cycles common in the nineteenth and early twentieth centuries. This is a sobering tale essential for anyone who wants to understand today’s world.