000			03553cam a2200277 i 4500
001			u79405
005			20171208180958.0
007			ta
008			170207s2015 nyu b 001 0 eng
020			_a9780195170184
040			_aStDuBDS _beng _cStDuBDS _dUk _erda _dUK-LoPHL
082	0	4	_a330.940561
100	1		_aWeisbrot, Mark _eauthor. _9113738
245	1	0	_aFailed : _bwhat the "experts" got wrong about the global economy / _cMark Weisbrot.
264		1	_aNew York : _bOxford University Press, _c2015.
300			_axv, 293 pages
336			_atext _2rdacontent
337			_aunmediated _2rdamedia
338			_avolume _2rdacarrier
505	0		_aPreface by Ha-Joon Chang. Chapter 1 - Troubles in Euroland: When the Cures Worsen the Disease. Chapter 2 - This Time Could Be Different: The Aftermath of Financial Crises. Chapter 3 - Untold History, Unsolved Mystery: The Long-Term Economic Growth Failure. Chapter 4 - The Misunderstood Role of the International Monetary Fund. Chapter 5 - The Latin American Spring. Chapter 6 - Conclusion: Looking Ahead. Bibliography. Index.
520			_aWhy has the Eurozone ended up with an unemployment rate more than twice that of the United States more than six years after the collapse of Lehman Brothers? Why did the vast majority of low- and middle-income countries suffer a prolonged economic slowdown in the last two decades of the 20th century? What was the role of the International Monetary Fund in these economic failures? Why was Latin America able to achieve substantial poverty reduction in the 21st century after more than two decades without any progress? Failed analyzes these questions, explaining why these important economic developments of recent years have been widely misunderstood and in some cases almost completely ignored. First, in the Eurozone, Mark Weisbrot argues that the European authorities' political agenda, which included shrinking the welfare state, reducing health care, pension, and other social spending, and reducing the bargaining power of labor played a very important role in prolonging the Eurozone's financial crisis and pushing it into years of recession and mass unemployment. This conclusion is based not only on public statements of European officials, but also on thousands of pages of documentation from consultations between the IMF and European governments after 2008. The second central theme of Failed is that there are always practical alternatives to prolonged economic failure. Drawing on the history of other financial crises, recessions, and recoveries, Weisbrot argues that regardless of initial conditions, there have been and remain economically feasible choices for governments of the Eurozone to greatly reduce unemployment-including the hardest hit, crisis-ridden country of Greece. The long-term economic failure of developing countries, its social consequences, as well as the subsequent recovery in the first decade of the 21st century, constitute the third part of the book's narrative, one that has previously gotten too little attention. We see why the International Monetary Fund has lost influence in middle income countries. Failed also examines the economic causes and consequences of Latin America's "second independence" and rebound in the twenty-first century, as well as the challenges that lie ahead.
610	2	0	_aInternational Monetary Fund. _92220
650		0	_aFinancial crises _zEuropean Union countries. _957200
650		0	_aEconomic forecasting. _929756
942			_n0
999			_c71205 _d71205