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dc.contributor.authorHillinger, Claudeen
dc.date.accessioned2010-08-24-
dc.date.accessioned2010-08-31T12:14:11Z-
dc.date.available2010-08-31T12:14:11Z-
dc.date.issued2010-
dc.identifier.citation|aEconomics: The Open-Access, Open-Assessment E-Journal|c1864-6042|v4|h2010-23|nKiel Institute for the World Economy (IfW)|lKiel|y2010|p1-61en
dc.identifier.pidoi:10.5018/economics-ejournal.ja.2010-23en
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
dc.language.isoengen
dc.publisher|aKiel Institute for the World Economy (IfW) |cKielen
dc.subject.jelE31en
dc.subject.jelE42en
dc.subject.jelE58en
dc.subject.ddc330en
dc.subject.keywordDeficit financingen
dc.subject.keywordfinancial crisisen
dc.subject.keywordfinancial instabilityen
dc.subject.keywordfull reserve bankingen
dc.subject.keywordsovereign defaulten
dc.subject.keywordtoxic assetsen
dc.subject.stwFinanzmarktkriseen
dc.subject.stwWirtschaftskriseen
dc.subject.stwAntizyklische Finanzpolitiken
dc.subject.stwGeldpolitiken
dc.subject.stwBankenpolitiken
dc.subject.stwStaatliche Einflussnahmeen
dc.subject.stwUSAen
dc.subject.stwWestliche Staatenen
dc.titleThe crisis and beyond: Thinking outside the box-
dc.typeArticleen
dc.identifier.ppn633726249en
dc.rights.licensehttp://creativecommons.org/licenses/by-nc/2.0/de/deed.enen
dc.identifier.repecRePEc:zbw:ifweej:201023en
econstor.citation.journaltitleEconomics: The Open-Access, Open-Assessment E-Journalen
econstor.citation.issn1864-6042en
econstor.citation.volume4en
econstor.citation.issue2010-23en
econstor.citation.publisherKiel Institute for the World Economy (IfW)en
econstor.citation.publisherplaceKielen
econstor.citation.year2010en
econstor.citation.startpage1en
econstor.citation.endpage61en

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