Mananging America: The Questionable Legacy of Alan Greenspan

.

Chapter 3 in Neoliberalism and the Road to Inequality and Stagnation, 2021, pp 34-48 from Edward Elgar Publishing

Abstract: This chapter showed how Alan Greenspan contributed to the making of a new unstable business cycle fuelled by financial booms and cheap imports. The chapter anticipated the phenomenon that has become known as "financialization", and it identified the process of "consumer debt-led growth" which generates massive trade deficits. For almost twenty years, Greenspan was one of the world's most powerful policymakers. During that time he was a leading booster of globalization and financial deregulation, and an opponent of modernizing regulation. Those policies contributed to de-industrialization, and also twisted the economy toward financial speculation and reliance on debt. The result was the creation of an economy that is permanently inclined to financial excess and characterized by financial fragility. The chapter predicted the likelihood of a future financial crisis.

Keywords: Business and Management; Economics and Finance; Politics and Public Policy (search for similar items in EconPapers)
Date: 2021
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.elgaronline.com/view/9781802200072.00010.xml (application/pdf)
Our link check indicates that this URL is bad, the error code is: 503 Service Temporarily Unavailable

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:20890_3

Ordering information: This item can be ordered from
http://www.e-elgar.com

Access Statistics for this chapter

More chapters in Chapters from Edward Elgar Publishing
Bibliographic data for series maintained by Darrel McCalla ().