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Hidden Collective Factors in Speculative Trading [electronic resource] : A Study in Analytical Economics / by Bertrand M. Roehner.

By: Contributor(s): Material type: TextTextPublisher: Berlin, Heidelberg : Springer Berlin Heidelberg : Imprint: Springer, 2009Edition: 2nd ed. 2009Description: XXII, 312 p. online resourceContent type:
  • text
Media type:
  • computer
Carrier type:
  • online resource
ISBN:
  • 9783642030482
Subject(s): Additional physical formats: Printed edition:: No title; Printed edition:: No title; Printed edition:: No titleDDC classification:
  • 332
LOC classification:
  • HG1-9999
Online resources:
Contents:
PROLOGUE -- Overall view of speculative markets -- HIDDEN COLLECTIVE DETERMINANTS -- Rational? -- Joint crashes -- Contagion of speculative frenzy -- REGULARITIES IN SPECULATIVE EPISODES -- Peak amplitude: the price multiplier effect -- Peak shape: the sharp peak - flat trough pattern -- Stock market bubbles -- THE TRIUMPH OF NEOLIBERALISM -- Triumph of neoliberalism in economics -- Triumph of neoliberalism in society -- Triumph of neoliberalism in finance -- Is there a way out?.
In: Springer Nature eBookSummary: What are the roots of the present economic crisis? The book shows that the factors commonly mentioned (e. g. subprime loans, fall in housing prices) have occurred in the past and therefore cannot account for the severity of the present crisis. There must be "something else". The analysis shows that there was a "phase transition" in the United States around 1975 which brought the following changes: - The stagnation of real wages over the past 30 years and a parallel rise in indebtment levels. - The abrupt fall in unionization rates and in the number of strikes. - The development of tax havens which deprived states of tax revenue. - The globalization of financial transactions which hinders long-term investment.
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Holdings
Item type Home library Collection Call number Status Date due Barcode Item holds
E-Book E-Book Biblioteca Digital Colección SPRINGER 332 (Browse shelf(Opens below)) Not For Loan
Total holds: 0

PROLOGUE -- Overall view of speculative markets -- HIDDEN COLLECTIVE DETERMINANTS -- Rational? -- Joint crashes -- Contagion of speculative frenzy -- REGULARITIES IN SPECULATIVE EPISODES -- Peak amplitude: the price multiplier effect -- Peak shape: the sharp peak - flat trough pattern -- Stock market bubbles -- THE TRIUMPH OF NEOLIBERALISM -- Triumph of neoliberalism in economics -- Triumph of neoliberalism in society -- Triumph of neoliberalism in finance -- Is there a way out?.

What are the roots of the present economic crisis? The book shows that the factors commonly mentioned (e. g. subprime loans, fall in housing prices) have occurred in the past and therefore cannot account for the severity of the present crisis. There must be "something else". The analysis shows that there was a "phase transition" in the United States around 1975 which brought the following changes: - The stagnation of real wages over the past 30 years and a parallel rise in indebtment levels. - The abrupt fall in unionization rates and in the number of strikes. - The development of tax havens which deprived states of tax revenue. - The globalization of financial transactions which hinders long-term investment.

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