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Age of Oversupply Overcoming the Greatest Challenge to the Global Economy

ISBN-10: 1591845963
ISBN-13: 9781591845966
Edition: N/A
Authors: Daniel Alpert
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Description: Why Western capitalism is broken and how the U.S. can recover its global economic leadership status The governments and central banks of the developed world have tried every policy tool imaginable, yet our economies remain sluggish, or worse. How  More...

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Book details

List price: $27.95
Publisher: Penguin Publishing Group
Publication date: 9/26/2013
Binding: Hardcover
Pages: 288
Size: 6.00" wide x 9.00" long x 1.00" tall
Weight: 1.034
Language: English

Why Western capitalism is broken and how the U.S. can recover its global economic leadership status The governments and central banks of the developed world have tried every policy tool imaginable, yet our economies remain sluggish, or worse. How did we get here, and how can we emerge from the longest downturn in recent memory? Daniel Alpert, a progressive Wall Street banker and economist, argues that we are living in the age of oversupply. A global labor glut, a flood of excess productive capacity, and the persistent availability of cheap money have kept the developed world in a perpetual slump—which is unlikely to right itself without new policy solutions. For decades, economists and political leaders failed to see the signs of what became a cataclysmic shift in the global economy. Distracted by a technology boom and massive debt bubble, advanced nations failed to assess the full impact of the flood of labor and capital unleashed by the end of socialist economies until the most recent financial crisis exposed it. As the BRICs (Brazil, Russia, India, and China) and others continue to poach jobs from Western Europe, Japan, and the United States, prosperity in the developed world remains under threat. This is an alarming, insightful take on our current challenges, with bold policy prescriptions, from one of our sharpest economic minds.

Introduction: The Endless Slump
The Rise of Oversupply: How the Emerging Nations Remade the Global Economy
Out Of Balance: Debts, Surpluses, and the Broken Global Economy
Making the Worst of It: Bad Policy, Denial, and Decline
Let Them Eat Debt: Stagnating Incomes, Credit Bubbles, and the Road to Crisis
Nations in Neutral: The Output Gap and the Vanishing of Wealth
The Empty Toolbox: Why Policy Makers Can't Fix the Economy
The Detour Economy: How Advanced Countries Are Dodging the Real Economic Challenges
Bad Values: Why Sticky Wages and Prices Block a Real Recovery
Blind Spots: The Failure of Economic Leadership
The Stability Imperative: A Responsible Approach to Economic Policy
Underwater No More: How to Finally Put the Great Credit Bubble Behind Us
Rebuild and Reform: A Strategy for Restoring Growth
Good Debt, Bad Debt: Dealing with Deficits
A Global System that Works: Managing Multilateralism
In Pursuit of Pragmatism: Tear Down This Ideological Wall
Acknowledgments
Notes
Index

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