The Economic Crisis Reader

Edited by Gerald Friedman, Fred Moseley, Chris Sturr, and the Dollars & Sense collective.

Crisis Reader cover
Edition:
2nd
Date of publication:
November 2010
ISBN:
978-1-878585-84-4
Pages:
411
Price:
$34.95


  • Introduction
  • Introduction to the First Edition
  • Chapter 1: General Explanations
    • 1.1 The Greed Fallacy Arthur MacEwan
    • 1.2 Inequality, Power, and Ideology Arthur MacEwan
    • 1.3 Recession, Depression, Repression: What’s in a Name? John Miller
    • 1.4 That ’70s Crisis Alejandro Reuss
    • 1.5 Crisis and Neoliberal Capitalism David Kotz
    • 1.6 Capitalism Hits the Fan Richard D. Wolff
    • 1.7 We’re All Minskyites Now Robert Pollin
    • 1.8 The “Credit Tsunami” Steve Keen
    • 1.9 Profits, the Business Cycle, and the Current Crisis Paul Mattick
    • 1.10 Same Output + Fewer Hours = Economic Crisis? Alejandro Reuss
    • 1.11 Why Won’t the Economy Spring Back? James M. Cypher
  • Chapter 2: Warning signs
    • 2.1 Bubble Trouble Dean Baker
    • 2.2 A House of Cards Tamara Draut and Adria Scharf
    • 2.3 (Mis)Understanding a Banking Industry in Transition William K. Black
    • 2.4 America’s Growing Fringe Economy Howard Karger
    • 2.5 Financialization: A Primer Ramaa Vasudevan
    • 2.6 Private Equity Exposed Orlando Segura, Jr.
    • 2.7 Hedge Funds Arthur MacEwan
    • 2.8 The Fed and America’s Distorted Expansion Thomas I. Palley
    • 2.9 Who Cares If Bear Stearns Fails? Arthur MacEwan
    • 2.10 Can the Fed Handle a Systemic Crisis? Maybe. Jane D’Arista
  • Chapter 3: The Housing Bubble and Bust
    • 3.1 The Homeownership Myth Howard Karger
    • 3.2 What Were the Bankers Thinking? Arthur MacEwan
    • 3.3 Renters in the Crosshairs Daniel Fireside
    • 3.4 How to Stop the Foreclosures Fred Moseley
    • 3.5 The Bailout of Fannie Mae and Freddie Mac Fred Moseley
    • 3.6 Who Gets Those Trillions? Arthur MacEwan
    • 3.7 Don’t Blame the CRA Jim Campen
    • 3.8 Update on Mortgage Lending Discrimination Jim Campen
  • Chapter 4: The Financial Meltdown
    • 4.1 From Tulips to Mortgage-Backed Securities Gerald Friedman
    • 4.2 Ponzi Schemes and Speculative Bubbles Arthur MacEwan
    • 4.3 Confidence Trick John Miller
    • 4.4 Derivatives and Deregulation Marty Wolfson
    • 4.5 Dealing with a Rotten Tooth Arthur MacEwan
    • 4.6 Time for Permanent Nationalization! Fred Moseley
    • 4.7 Trust Your Gut William Greider
    • 4.8 Not Too Big Enough Rob Larson
    • 4.9 Bonanzas as Usual Rob Larson
    • 4.10 The Sad Future of Banking William K. Black
  • Chapter 5: Monetary Policy: The Fed and The Money Supply
    • 5.1 Pushing on Strings Gerald Friedman
    • 5.2 Bernanke’s Bad Teachers Gerald Friedman
    • 5.3 The Bailouts Revisited Marty Wolfson
    • 5.4 Of Bubbles and Bailouts Mary Bottari
    • 5.5 Fixing the Fed William Greider
    • 5.6 Keynes and the Limits of Monetary Policy Alejandro Reuss
    • 5.7 Bad News, Good News, and Class Conflict John Miller
    • 5.8 Pressure from the Bond Market Arthur MacEwan
  • Chapter 6: Fiscal Policy: Stimulus and Deficits
    • 6.1 Stimulating Whining John Miller
    • 6.2 How I Learned to Stop Worrying and Love the Deficit John Miller
    • 6.3 Responding to Revisionism Gerald Friedman
    • 6.4 Fiscal Policy and “Crowding Out” Alejandro Reuss
    • 6.5 Why Are Things Getting Worse and Worse? Arthur MacEwan
    • 6.6 The Economic Crisis in the States Gerald Friedman
    • 6.7 State Budget Blues Marianne Hill
    • 6.8 Myths of the Deficit Marty Wolfson
    • 6.9 The Deficit: Real Issue, Phony Debates Rick Wolff
  • Chapter 7: The Jobs Crisis
    • 7.1 The Real Unemployment Rate Hits a 68-Year High John Miller
    • 7.2 Unemployment: How Bad for How Long? Fred Moseley
    • 7.3 Unemployment Insurance: A Broken System Marianne Hill
    • 7.4 Employers Go on StrikeóBecause They Can John Miller
    • 7.5 Gender and the Recession Heather Boushey
    • 7.6 A Dismal Time to Graduate Katherine Faherty
    • 7.7 How Blacks Might Fare in the Jobless Recovery Sylvia Allegretto and Steven Pitts
  • Chapter 8: Industrial and Employment Policy
    • 8.1 Bail Out the Safety Net Randy Albelda
    • 8.2 Creating Decent Jobs Jeannette Wicks-Lim
    • 8.3 Is Military Keynesianism the Solution? Heidi Garrett-Peltier
    • 8.4 We Need a (Green) Jobs Program Jeannette Wicks-Lim
    • 8.5 Saving Energy Creates Jobs Heidi Garrett-Peltier
    • 8.6 Eighteen Million Jobs by 2010 Robert Pollin
    • 8.7 A New WPA? Ryan A. Dodd
    • 8.8 Changing the Auto Industry from the Wheels Up Alejandro Reuss
  • Chapter 9: Labor Activism
    • 9.1 The Global Crisis and the World Labor Movement Dan LaBotz
    • 9.2 The Real Audacity of Hope Kari Lyderson and James Tracy
    • 9.3 Corporate America’s Counter-Stimulus Strategy Roger Bybee
    • 9.4 Worker Direct Action Grows in Wake of Financial Meltdown Immanuel Ness and Stacy Warner Maddern
    • 9.5 Greece as a Demonstration Project Mike-Frank Epitropoulos
    • 9.6 Should We Be Talking About Living Wages Now? Jeannette Wicks-Lim
    • 9.7 On Strike in China Chris Tilly and Marie Kennedy
  • Chapter 10: The International Crisis
    • 10.1 The Giant Pool of Money Arthur MacEwan
    • 10.2 W(h)ither the Dollar? Katherine Sciacchitano
    • 10.3 Putting the “Global” in the Global Economic Crisis Smriti Rao
    • 10.4 (Economic) Freedom’s Just Another Word for...Crisis-Prone John Miller
    • 10.5 Tax Havens and the Financial Crisis Rachel Keeler
    • 10.6 Beyond the World Creditors’ Cartel Dariush Sokolov
    • 10.7 No Bailout for AIDS Mara Kardas-Nelson
    • 10.8 The Beijing Statement
    • 10.9 The Caracas Statement
  • Contributors