Showing results for "The Mark" in Economic

Inflation is back, and its impact can be felt everywhere, from the grocery store to the mortgage market to the results of elections around the world. Yet the conventional wisdom about inflation is stuck in the past. Since the 1970s, there has only really been one playbook for fighting inflation: raise interest rates, thereby creating unemployment and a recession, which will lower prices. But this simple story hides a multitude of beliefs about why prices go up and how policymakers can wrestle them back down, beliefs that are often wrong, damaging, and have little empirical basis.

Optimistic about America's future? Don't be. In his New York Times best seller, America Alone: The End of the World as We Know It, Mark Steyn predicted collapse for the rest of the Western world. In After America Steyn asserts that the United States, like Europe, is on the great rush to self-destruction. It's not just one cause—such as financial collapse, citizens who think the government will solve every problem, or America's eclipse as a world power—no, it's all this and more that spells one word for the United States: Armageddon.

Why has the Eurozone ended up with an unemployment rate more than twice that of the United States more than six years after the collapse of Lehman Brothers? Why did the vast majority of low- and middle-income countries suffer a prolonged economic slowdown in the last two decades of the 20th century? What was the role of the International Monetary Fund in these economic failures?

Governments today in both Europe and the United States have succeeded in casting government spending as reckless wastefulness that has made the economy worse. In contrast, they have advanced a policy of draconian budget cuts - austerity - to solve the financial crisis. We are told that we have all lived beyond our means and now need to tighten our belts. This view conveniently forgets where all that debt came from. Not from an orgy of government spending, but as the direct result of bailing out, recapitalizing, and adding liquidity to the broken banking system.

Why are measures of stress and anxiety on the rise when economists and politicians tell us we have never had it so good? While statistics tell us that the vast majority of people are getting steadily richer, the world most of us experience day in and day out feels increasingly uncertain, unfair, and ever more expensive. In Angrynomics, Eric Lonergan and Mark Blyth explore the rising tide of anger, sometimes righteous and useful, sometimes destructive and ill-targeted, and propose radical new solutions for an increasingly polarized and confusing world.

The United States has been epitomized as a land of opportunity, where hard work and skill can bring personal success and economic well-being. The American Dream has captured the imagination of people from all walks of life, and to many, it represents the heart and soul of the country. But there is another, darker side to the bargain that America strikes with its people - it is the price we pay for our individual pursuit of the American Dream.

The recent economic crisis was a dramatic reminder that capitalism can both produce and destroy. It's a system that by its very nature encourages predators and creators, locusts and bees. But, as Geoff Mulgan argues in this compelling, imaginative, and important book, the economic crisis also presents a historic opportunity to choose a radically different future for capitalism, one that maximizes its creative power and minimizes its destructive force.

Most global citizens are well aware of the explosive growth of the Chinese economy. Indeed, China has famously become the "workshop of the world." Yet, while China watchers have shed much light on the country's internal dynamics - China's politics, its vast social changes, and its economic development - few have focused on how this increasingly powerful nation has become more active and assertive throughout the world.

Do the Fed’s efforts to stabilize the economy worsen inequality? The Federal Reserve, the U.S. central bank, was built for a monetary system composed primarily of investor-owned, government-chartered banks. But over the years, the erosion of banking law and the rise of alternative forms of...