Ignoring Today's Dangers

Steven Rosefielde and Daniel Quinn Mills

Chapter 2 in Global Economic Turmoil and the Public Good, 2015, pp 11-35 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Leaders and investors everywhere today are disregarding economic and political storm warning. They delude themselves into believing that pre-crisis stability, prosperity and robust growth of the early years of the new millennium will be easily restored in our time because anti-crisis safeguards installed after 2008 will prevent another damaging financial crisis. Policy-makers are trying to create good times for everyone relying primarily on monetary expansion, intensified government deficit spending, statutory wage increases and egalitarian transfers. There are debates, but disagreement is narrowly restricted to disputes over the right mix of steroids and entitlements. No serious consideration is being given by politicians and macroeconomic theorists to the long term causes of global economic growth retardation and the risks of perpetual fiscal and monetary stimulus…

Keywords: Global Economic Crisis; Global Financial Crisis; Crisis Prevention; Global Economic Sclerosis; European Union; Monetary Union; Fiscal Union; United States; China; India; Japan; Monetary Policy; Keynesianism; Central Banking; Fiscal Policy (search for similar items in EconPapers)
Date: 2015
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.worldscientific.com/doi/pdf/10.1142/9789814590518_0002 (application/pdf)
https://www.worldscientific.com/doi/abs/10.1142/9789814590518_0002 (text/html)
Ebook Access is available upon purchase.

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:wsi:wschap:9789814590518_0002

Ordering information: This item can be ordered from

Access Statistics for this chapter

More chapters in World Scientific Book Chapters from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().