Epic Recession: Prelude to Global Depression - Rasmus, Jack
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With the US still reliant on regular liquidity injections and government bail-outs, an quick end to the economic crisis seems increasingly remote. In "Epic Recession And Financial Crisis, " Jack Rasmus argues that we need a new way of understanding the crisis if things are to improve. Rasmus interrogates US economic history to show that the current predicament is what he terms an "Epic Recession," neither a full-blown depression or a short-lived period of contraction followed by a swift return to growth. He then shows that the only way to prevent the onset of depression is to radically…mehr

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With the US still reliant on regular liquidity injections and government bail-outs, an quick end to the economic crisis seems increasingly remote. In "Epic Recession And Financial Crisis, " Jack Rasmus argues that we need a new way of understanding the crisis if things are to improve. Rasmus interrogates US economic history to show that the current predicament is what he terms an "Epic Recession," neither a full-blown depression or a short-lived period of contraction followed by a swift return to growth. He then shows that the only way to prevent the onset of depression is to radically restructure the economy through a massive job creation program, nationalizations, a fundamentally new kind of banking structure and a long-term redistribution of income through better healthcare and benefit systems." Epic Recession And Financial Crisis "provides a rallying point for trade unionists and concerned citizens who want to ensure that any recovery is felt further than Wall street.