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dc.contributor.authorHillinger, Claudeen_US
dc.date.accessioned2010-08-24en_US
dc.date.accessioned2010-08-31T12:14:11Z-
dc.date.available2010-08-31T12:14:11Z-
dc.date.issued2010en_US
dc.identifier.citationEconomics: The Open-Access, Open-Assessment E-Journal 4 2010-23 1-61 doi:10.5018/economics-ejournal.ja.2010-23en_US
dc.identifier.pidoi:10.5018/economics-ejournal.ja.2010-23-
dc.identifier.urihttp://hdl.handle.net/10419/39434-
dc.description.abstractIn this paper the author attempts an analysis of the current financial/economic crisis that is wider ranging and more fundamental than he has been able to find. He discusses alternatives to the financial bailouts and shows how the crisis could have been dealt with more efficiently and at little cost to taxpayers. Finally, the author discusses fundamental reforms that would reduce the volatility of financial markets and increase their efficiency. He reviews some social science literature that views the current crisis as an episode in the secular decline of the United States and more generally of the Western Democracies. The timidity of current reforms, which is striking when compared to those that followed the excesses of the Gilded Age and the Great Depression, can be understood in this framework. The author concludes that the industrialized world is now dominated by a financial-political complex that maximizes speculative profits in good times and socializes losses in times of crisis.en_US
dc.language.isoengen_US
dc.publisherKiel Institute for the World Economy (IfW) Kielen_US
dc.relation.ispartofseriesEconomics 2010-23en_US
dc.subject.jelE31en_US
dc.subject.jelE42en_US
dc.subject.jelE58en_US
dc.subject.ddc330en_US
dc.subject.keywordDeficit financingen_US
dc.subject.keywordfinancial crisisen_US
dc.subject.keywordfinancial instabilityen_US
dc.subject.keywordfull reserve bankingen_US
dc.subject.keywordsovereign defaulten_US
dc.subject.keywordtoxic assetsen_US
dc.subject.stwFinanzmarktkriseen_US
dc.subject.stwWirtschaftskriseen_US
dc.subject.stwAntizyklische Finanzpolitiken_US
dc.subject.stwGeldpolitiken_US
dc.subject.stwBankenpolitiken_US
dc.subject.stwStaatliche Einflussnahmeen_US
dc.subject.stwUSAen_US
dc.subject.stwWestliche Staatenen_US
dc.titleThe crisis and beyond: Thinking outside the boxen_US
dc.typeArticleen_US
dc.identifier.ppn633726249en_US
dc.identifier.urlhttp://www.economics-ejournal.org/economics/journalarticles/2010-23en_US
dc.rights.licensehttp://creativecommons.org/licenses/by-nc/2.0/de/deed.en-
dc.identifier.repecRePEc:zbw:ifweej:201023-
Appears in Collections:Economics: The Open-Access, Open-Assessment E-Journal - Journal Articles

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