Wilhelm Hankel, Robert Isaak

Brave New World Economy (eBook, PDF)

Global Finance Threatens Our Future

• Format: PDF

Produktbeschreibung

An engaging look at the road to a sustained economic recovery The global finance system can be regulated to prevent massive credit fraud, tame capitalism, confront the sovereign debt crisis, and move towards investing in the real economy and full employment. "Obamanomics", and American reinvention can lead to a sustained economic recovery but only together with major domestic, European, and global monetary reforms in cooperation with emerging nations. For decades, the U.S. dollar has served as the world's reserve currency. But after the global market meltdown and the resulting massive stimulus spending meant to keep the Great Recession from becoming an even Greater Depression, confidence in America's ability to make good on its growing debt is at all-time lows. In Brave New World Economy: Global Finance Threatens Our Future, Wilhelm Hankel and Robert Isaak--two extremely controversial, yet highly respected experts on international economics and management--describe how "Obamanomics," the Euro crisis, and shift of economic growth from the West to emerging economies, if handled properly, can lead to true economic stability and job creation. * Highlights America's 'Great Bluff' bail-out strategy to cope with the crisis and the reforms Obamanomics must make to bring about sustainable job recovery * Describes the risks and rewards of borrowing from future generations--in the United States, Europe, and the developing world--to save the current generation * Details how money became separated from government control and why the interbanking credit system threatens western nations with bankruptcy, undermining pensions, and the human right to work * Points out why nation-states need to go back to helping themselves and not rely on the false promises of regional integration and globalization * Shows how legalizing underground labor will create more jobs How we arrived at this economic crossroads isn't as important as the decision as to which path to take. The Brave New World Economy points us in the right direction.

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Produktdetails

• Verlag: John Wiley & Sons
• Seitenzahl: 288
• Erscheinungstermin: 10. Februar 2011
• Englisch
• ISBN-13: 9781118036860
• Artikelnr.: 37338803

Autorenporträt

Wilhelm Hankel is former Director of the German Economic Finance Ministry, Department of Money and Credit. An internationaleconomist and consultant to centralbanks, his creative theories of money and the global economy, as well as his proven fixesfor stalemated political economies, are illustrated throughout fourteen books. Robert Isaak is a political economist and the Henry George Professor of International Management at Pace University, in New York. A consultant to businesses such as Siemens and Prudential Intercultural, he has taught at Johns Hopkins SAIS, and New York University, and has been a guest professor of international management at the University of Mannheim, Heidelberg University, the University of Grenoble, and SKEMA Business School, in France. He has authored eleven books on political economy.

Inhaltsangabe

Preface. Manifesto Democratization of Capitalism. Rescue the Right to Work
in Aging Societies. Legalize Black Market Labor. Defuse the Ticking Time
Bombs of the Welfare State. Enroll 100 Percent of the Population in
Pensions. Reduce State Indebtedness. Look for New Answers to Old Problems.
Subsidize Start-Ups in Disadvantaged Regions. The Mandate of the
Democratic, Constitutional Welfare State: Stability, Reliability,
Prosperity. Chapter 1 Midas Reveals How to Create Money through Credit
Fraud. Does Progress in Developing Money Equal Progress in the World
Economy? The State as Accomplice or Controller of the Money Economy, or
Both? The Illusory World of Finance and the Fictional Capital of Banks.
Will Yesterday's Recipes Help Us Today? The Finance Sector Always
Underestimates the Risks of Its Innovations. Four Fatal Innovations of
Global Banking. Essential Reforms. Four Conclusions from the Financial
Crisis. Keynes, Properly Understood Chapter 2 The Great Bluff: The American
Way out of the Crisis. A Brief Tour of How We Got Here. How American
Globalization Revolutionized Finance. Wanted: An Emperor with Clothes. How
Goldman Sachs Milked Bubble Trouble. Origins of the Financial Crisis. The
Lost Lessons of Long-Term Capital Management. The Government Intervenes;
Investors Panic. Obamanomics: Exploiting Crisis, Postponing Costs. The Debt
Culture versus Hoarding and Investing. Austerity versus Stimulus: The
Trillion-Dollar Gap. Recasting the United States: Domestic Dynamism with
Responsibility. Chapter 3 Giant with Feet of Clay: The European Union. What
Services Has the EU Rendered? The Euro: Not Dynamic but Dynamite. Is the
European Union on Its Way to Becoming a Nation-State? Do EU Institutions
Induce Constitutional Infidelity? Can the Euro Survive? The Three Unknowns
of the Current Bailout of the Euro. The Next Financial Adventure: A
European State Bankruptcy Law. What Comes after the Euro? The Future of the
EU: The Swiss Model. Currency "Concubinage": The Currency Has to Serve the
Citizen, Not the Citizen the Currency. Chapter 4 The New New World: Can
BRICs Save the Rich? Mimicking Past Economic Miracles. The Rise of the
BRICs. Characteristics of the New New World. Legitimacy Lost. Decoupling
and Demographics. One BRIC at a Time. Debt versus Investment and Savings in
BRICs. The Group of 20 and Global Imbalances. The Roadmap to the New World
Economy Has Changed. Chapter 5 Time for a New Bretton Woods: Crisis
Prevention through Monetary Law. What Caused Bretton Woods to Fail?
"Floating"Exchange Rates: A Compelling End? Living in the "Nonsystem"of
Post-Bretton Woods. Keynes with a New Feature: Real (Not Nominal) Fixed
Exchange Rates. Chapter 6 Toward a Brave New World Economy: Reducing Debt
and Unemployment. The World Economy and Nation: States Are a System of
Communicating Pipes. Democracy Begins and Works at Home. Pillars of
Stability and Self-Healing Therapies of Modern Society. From
"Underground"Work to Lifelong "Retooling". The Old-Age Pension Dilemma. The
Dilemma of the Overindebted State. What Can Be Done? The Three Megatrends
of the Global Economy of Tomorrow. Epilogue Faust and Mephisto on the
World-Money Stage. From Paper Gold to Paper Paper. The Narrow Middle Lane
of Successful Capitalism. From Gold to the G-20. Invitation. Notes.
Bibliography. About the Authors. Index.