The Great Recession, including the preceding events and the subsequent recovery period, has been the dominant feature of US capitalism in the 21st century. But what can we learn about economic behavior, policies, and relationships by studying this period of marked general decline? Understanding the Great Recession seeks to answer this question by facilitating an advanced theoretical and practical understanding of the Great Recession, using multiple approaches to economic analysis. This textbook uses the Great Recession as a case study for understanding economic concepts, the conduct of policymaking, and competing schools of economic thought. It introduces readers to multiple perspectives on the crisis, including feminist, institutionalist, Marxian, monetarist, neoclassical, post-Keynesian, and stratification economics, amongst others. Divided into four parts, the textbook begins by introducing readers to the headline events of the crisis, and the major differences between neoclassical and heterodox economics. The second part investigates the lead-up to the crisis, beginning with the long-term restructuring of capitalism following the Great Depression, the housing market bubble, and the transmission of the 2008 financial crisis. The third part investigates the policy responses to the crisis, such as financial reform, monetary policy, and fiscal policy. In the final part, economic performance, the shift toward populism, and policy developments during the recovery are all analyzed. Providing the basis for understanding the long-term trajectory of capitalism today, this book is an invaluable resource for students of economics, public policy, and other related fields.

Cycles, Growth and the Great Recession is a collection of papers that assess the nature and role of the business cycle in contemporary economies. These assessments are made in the context of the financial market instability that distinguishes the Great Recession from previous post-war slowdowns. Theorists and applied scholars in the fields of economics and mathematical economics discuss various approaches to understanding cycles and growth, and present mathematical and applied macro models to show how uncertainty shapes cycles by affecting the economic agent choice. Also included is an empirical section that investigates how the Great Recession affected households’ housing wealth, labour productivity and migration decisions. This book aims to: Propose a novel understanding of the business cycle by comparing the approaches of various scholars, starting from Hyman Minsky and Piero Ferri. Show that uncertainty is a main feature of the business cycle that affects decision-making and economic behaviour in general. Explain with mathematical models how the behaviour of economic agents can lead to cyclical paths for modern developed economies. Augment theory with empirical analysis of some central issues related to the Great Recession. This book comprises an original view of such widely discussed subjects as business cycles, uncertainty, economic growth and the Great Recession, constructed around theory, models and applications.

Readers will learn about recessions and how they are a part of the normal economic cycle: peak, recession, trough, and recovery. This narrative explores how inflation and the imbalance of supply and demand can cause an economic downturn. Through the twenty-first-century example of the Great Recession, students will learn what causes these periods of economic contraction, what leads to recovery, and how to avoid severe and prolonged periods of stagnancy, also known as economic depressions.

The 2008-10 financial crisis and the global recession it created is a complex phenomenon that warrants detailed examination. The various essays in the book utilise several alternative paradigms to provide a plausible explanation and a credible cure. This book provides this important analysis in great detail and from different theoretical perspectives, presenting a clearer understanding of what went wrong and expounding misinterpretations of current theories and practices. Thirteen insightful chapters by eminent scholars investigate the background of the crisis and draw lessons for economic theory and policy. They largely illustrate that the roots of the recession lie in the financial sector which, over the past few decades, has expanded considerably in terms of both size and complexity. They show that financial innovation has decoupled the real and financial sectors - not always to the benefit of economic stability - and argue that financial markets should be regulated more astutely in order to reinforce transparency and accountability. The book concludes that economics as a science should give proper weight to financial variables and integrate them into its models.

In this innovative book, Alan France looks not at the economic impact of the global economic crisis and great recession of the past decade, but at the effect these forces have had on our very understanding of youth through its associated institutions. Using eight countries as case studies, he undertakes an in-depth sociological analysis of historical and contemporary developments in secondary education, training, work, and welfare policy to show how the ecological landscape of youth has been affected. Mapping the growing influence of neoliberalism as a political strategy in each of the countries, he shows how, after the crisis, the reconfiguration of institutions and practices that are central to the lives of the young is accelerating, bringing new meaning to youth, age, transition, diversity, risk, and inclusion.

An accessible and detailed overview of the risks posed by financial institutions Understanding Systemic Risk in Global Financial Markets offers an accessible yet detailed overview of the risks to financial stability posed by financial institutions designated as systemically important. The types of firms covered are primarily systemically important banks, non-banks, and financial market utilities such as central counterparties. Written by Aron Gottesman and Michael Leibrock, experts on the topic of systemic risk, this vital resource puts the spotlight on coherency, practitioner relevance, conceptual explanations, and practical exposition. Step by step, the authors explore the specific regulations enacted before and after the credit crisis of 2007-2009 to promote financial stability. The text also examines the criteria used by financial regulators to designate firms as systemically important. The quantitative and qualitative methods to measure the ongoing risks posed by systemically important financial institutions are surveyed. A review of the regulations that identify systemically important financial institutions The tools to use to detect early warning indications of default A review of historical systemic events their common causes Techniques to measure interconnectedness Approaches for ranking the order the institutions which pose the greatest degree of default risk to the industry Understanding Systemic Risk in Global Financial Markets offers a must-have guide to the fundamentals of systemic risk and the key critical policies that work to reduce systemic risk and promoting financial stability.

Goldberg uses a multi-media approach to critically examine the most significant and volatile issues of our times: the environmental crisis, upheavals in the developing world, health, terrorism, and technology. The book is unique in its in-depth coverage of these pressing social concerns and its use of extensive media resources through a companion website. An introductory section reviews basic sociological concepts and theories, including the sociological imagination and class, gender, and race stratification all of which are revisited in each chapter. The book helps students appreciate the magnitude of the problems of the twenty-first century as they develop the intellectual tools to understand them sociologically and personally.Features of the text: "

Understanding Globalization introduces students to the concept of globalization, providing an essential history, overview of key themes and theories, and a wealth of engaging examples. The fifth edition has been completely revised to connect with students today, opening with a discussion of the far-reaching causes and effects of the recent financial crisis and including new material on global migration patterns, ISIS, and more, while maintaining the book’s accessible and student-friendly style. The book begins by examining the roots of the recent global financial crisis, looking at the roles of inflation, the housing crisis, Wall Street, policy makers, and more. It also explores the varying impact of globalization—from democratization and equality in some countries to destabilization and inequality in others. The fifth edition of Understanding Globalization is a compelling and current introduction to the myriad influences of globalization in our lives.

The Ashgate Research Companion to Black Sociology provides the most up to date exploration and analysis of research focused on Blacks in America. Beginning with an examination of the project of Black Sociology, it offers studies of recent events, including the ‘Stand Your Ground’ killing of Trayvon Martin, the impact of Hurricane Katrina on emerging adults, and efforts to change voting requirements that overwhelmingly affect Blacks, whilst engaging with questions of sexuality and family life, incarceration, health, educational outcomes and racial wage disparities. Inspired by W.E.B. Du Bois’s charge of engaging in objective research that has a positive impact on society, and organised around the themes of Social Inequities, Blacks and Education, Blacks and Health and Future Directions, this timely volume brings together the latest interdisciplinary research to offer a broad overview of the issues currently faced by Blacks in United States. A timely, significant research guide that informs readers on the social, economic and physical condition of Blacks in America, and proposes directions for important future research. The Ashgate Research Companion will appeal to policy makers and scholars of Africana Studies, Sociology, Cultural Studies, Anthropology and Politics, with interests in questions of race and ethnicity, gender and sexuality, social inequalities, health and education.

This fourth edition of Understanding the World Economy will continue to provide the reader with the clearest guide available to the global economic scene. Since the last edition was published in 2006, enormous changes have taken place. The world economy has been in upheaval with the biggest financial crash and ensuing recession since the 1930s; with a global re-ordering of economic power relations; with widespread demonstrations by those left behind; with divergent views about where Europe is heading; with a growing scarcity of essential resources; with increasing international terrorism and with increasing concerns of environmental degradation and climate change. To embrace such urgent issues, this text is an almost entirely rewritten version of earlier editions. Tony Cleaver takes a long look at the evolution of market systems and how they have liberated peoples on one side of the globe and yet driven others into debt, depression and despair. He analyses causes and consequences, and discusses (and sometimes dismisses) economic theories. Topics covered include: Why crashes occur What causes some countries to grow and others to stagnate Whether the Euro can survive The economic underpinnings of terrorism The dangers of climate change This book takes the student through the major characteristics of the global economy in jargon-free non-technical language. Chapter summary diagrams and a wealth of boxes and tables make this an essential introduction for undergraduates and A-level students, as well as the casual reader.