Lost Decades: The Making of America's Debt Crisis and the Long Recovery

Business & Finance, Economics, Economic History
Cover of the book Lost Decades: The Making of America's Debt Crisis and the Long Recovery by Menzie D. Chinn, Jeffry A. Frieden, W. W. Norton & Company
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Menzie D. Chinn, Jeffry A. Frieden ISBN: 9780393080506
Publisher: W. W. Norton & Company Publication: September 19, 2011
Imprint: W. W. Norton & Company Language: English
Author: Menzie D. Chinn, Jeffry A. Frieden
ISBN: 9780393080506
Publisher: W. W. Norton & Company
Publication: September 19, 2011
Imprint: W. W. Norton & Company
Language: English

A clear, authoritative guide to the crisis of 2008, its continuing repercussions, and the needed reforms ahead.

The U.S. economy lost the first decade of the twenty-first century to an ill-conceived boom and subsequent bust. It is in danger of losing another decade to the stagnation of an incomplete recovery. How did this happen? Read this lucid explanation of the origins and long-term effects of the recent financial crisis, drawn in historical and comparative perspective by two leading political economists.

By 2008 the United States had become the biggest international borrower in world history, with more than two-thirds of its $6 trillion federal debt in foreign hands. The proportion of foreign loans to the size of the economy put the United States in league with Mexico, Indonesia, and other third-world debtor nations. The massive inflow of foreign funds financed the booms in housing prices and consumer spending that fueled the economy until the collapse of late 2008. This was the most serious international economic crisis since the Great Depression of the 1930s.

Menzie Chinn and Jeffry Frieden explain the political and economic roots of this crisis as well as its long-term effects. They explore the political strategies behind the Bush administration’s policy of funding massive deficits with foreign borrowing. They show that the crisis was foreseen by many and was avoidable through appropriate policy measures. They examine the continuing impact of our huge debt on the continuing slow recovery from the recession. Lost Decades will long be regarded as the standard account of the crisis and its aftermath.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

A clear, authoritative guide to the crisis of 2008, its continuing repercussions, and the needed reforms ahead.

The U.S. economy lost the first decade of the twenty-first century to an ill-conceived boom and subsequent bust. It is in danger of losing another decade to the stagnation of an incomplete recovery. How did this happen? Read this lucid explanation of the origins and long-term effects of the recent financial crisis, drawn in historical and comparative perspective by two leading political economists.

By 2008 the United States had become the biggest international borrower in world history, with more than two-thirds of its $6 trillion federal debt in foreign hands. The proportion of foreign loans to the size of the economy put the United States in league with Mexico, Indonesia, and other third-world debtor nations. The massive inflow of foreign funds financed the booms in housing prices and consumer spending that fueled the economy until the collapse of late 2008. This was the most serious international economic crisis since the Great Depression of the 1930s.

Menzie Chinn and Jeffry Frieden explain the political and economic roots of this crisis as well as its long-term effects. They explore the political strategies behind the Bush administration’s policy of funding massive deficits with foreign borrowing. They show that the crisis was foreseen by many and was avoidable through appropriate policy measures. They examine the continuing impact of our huge debt on the continuing slow recovery from the recession. Lost Decades will long be regarded as the standard account of the crisis and its aftermath.

More books from W. W. Norton & Company

Cover of the book The Essentials of Persuasive Public Speaking by Menzie D. Chinn, Jeffry A. Frieden
Cover of the book The 9/11 Commission Report: Final Report of the National Commission on Terrorist Attacks Upon the United States (Authorized Edition) by Menzie D. Chinn, Jeffry A. Frieden
Cover of the book Edit Yourself: A Manual for Everyone Who Words with Words by Menzie D. Chinn, Jeffry A. Frieden
Cover of the book Texas: A History by Menzie D. Chinn, Jeffry A. Frieden
Cover of the book The Lives of Others by Menzie D. Chinn, Jeffry A. Frieden
Cover of the book The Sultan's Seal: A Novel (Kamil Pasha Novels) by Menzie D. Chinn, Jeffry A. Frieden
Cover of the book Selected Poems by Menzie D. Chinn, Jeffry A. Frieden
Cover of the book The Body Remembers Volume 2: Revolutionizing Trauma Treatment by Menzie D. Chinn, Jeffry A. Frieden
Cover of the book Plan B 3.0: Mobilizing to Save Civilization (Substantially Revised) by Menzie D. Chinn, Jeffry A. Frieden
Cover of the book The Cure Within: A History of Mind-Body Medicine by Menzie D. Chinn, Jeffry A. Frieden
Cover of the book Mississippi: A Bicentennial History (States and the Nation) by Menzie D. Chinn, Jeffry A. Frieden
Cover of the book The Three Trillion Dollar War: The True Cost of the Iraq Conflict by Menzie D. Chinn, Jeffry A. Frieden
Cover of the book The Immortal Evening: A Legendary Dinner with Keats, Wordsworth, and Lamb by Menzie D. Chinn, Jeffry A. Frieden
Cover of the book Miss Leavitt's Stars: The Untold Story of the Woman Who Discovered How to Measure the Universe (Great Discoveries) by Menzie D. Chinn, Jeffry A. Frieden
Cover of the book Who Gave Pinta to the Santa Maria?: Torrid Diseases in a Temperate World by Menzie D. Chinn, Jeffry A. Frieden
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy