Arbeitspapier

The crisis and beyond: thinking outside the box

In 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. For this purpose 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 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, he discusses fundamental reforms that would greatly reduce the volatility of financial markets and increase their efficiency.

Sprache
Englisch

Erschienen in
Series: Economics Discussion Papers ; No. 2010-1

Klassifikation
Wirtschaft
Price Level; Inflation; Deflation
Monetary Systems; Standards; Regimes; Government and the Monetary System; Payment Systems
Central Banks and Their Policies
Thema
Deficit financing
financial crisis
financial instability
full reserve banking
toxic assets
Finanzmarktkrise
Wirtschaftskrise
Antizyklische Finanzpolitik
Geldpolitik
Bankenpolitik
Staatliche Einflussnahme
USA
Westliche Staaten

Ereignis
Geistige Schöpfung
(wer)
Hillinger, Claude
Ereignis
Veröffentlichung
(wer)
Kiel Institute for the World Economy (IfW)
(wo)
Kiel
(wann)
2010

Handle
Letzte Aktualisierung
10.03.2025, 11:42 MEZ

Datenpartner

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Objekttyp

  • Arbeitspapier

Beteiligte

  • Hillinger, Claude
  • Kiel Institute for the World Economy (IfW)

Entstanden

  • 2010

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