Translation of the author's L'empire de la valeur."With the advent of the 2007-2008 financial crisis, the economics profession itself entered into a crisis of legitimacy from which it has yet to emerge. Despite the obviousness of their failures, however, economists continue to rely on the same methods and to proceed from the same underlying assumptions. Andr?e Orl?ean challenges the neoclassica…
Since 2008, economic policymakers and researchers have occupied a brave new economic world. Previous consensuses have been upended, former assumptions have been cast into doubt, and new approaches have yet to stand the test of time. Policymakers have been forced to improvise and researchers to rethink basic theory. George Akerlof, Nobel Laureate and one of this volume's editors, compares the cr…
"The recent financial crisis was an accident, a 'perfect storm' fueled by an unforeseeable confluence of events that unfortunately combined to bring down the global financial systems. And policy makers? They did everything they could, given their limited authority. It was all a terrible, unavoidable accident. Or at least this is the story told and retold by a chorus of luminaries that includes …
Fiscal policy makers have faced an extraordinarily challenging environment over the last few years. At the outset of the global financial crisis, the International Monetary Fund (IMF) for the first time advocated a fiscal expansion across all countries able to afford it, a seeming departure from the long-held consensus among economists that monetary policy rather than fiscal policy was the appr…
This title grows out of a conference hosted by the Mossavar-Rahmani Center for Business and Government at Harvard's Kennedy School of Government in October 2009, and the book reflects the dynamic give-and-take of the event.OCLC-licensed vendor bibliographic record.
This book provides rigorous analysis of some of the major episodes during Israel's economic transition and spells out, empirically, how globalization played a crucial role in advancing Israel's economic progress. Economists and policy makers can gain insights as to how a globalized economy can take advantage of international trade, labor mobility, its international financial links, while at the…
"The Dodd-Frank Act of 2010 was intended to reform financial policies in order to prevent another massive crisis such as the financial meltdown of 2008. Dodd-Frank is largely premised on the diagnosis that connectedness was the major problem in that crisis -- that is, that financial institutions were overexposed to one another, resulting in a possible chain reaction of failures. In this book, H…