Please note: In order to keep Hive up to date and provide users with the best features, we are no longer able to fully support Internet Explorer. The site is still available to you, however some sections of the site may appear broken. We would encourage you to move to a more modern browser like Firefox, Edge or Chrome in order to experience the site fully.

Supporting your high street Find out how »
The Crisis of Capitalist Democracy, Paperback / softback Book

The Crisis of Capitalist Democracy Paperback / softback

Paperback / softback

Available to Order - This title is available to order, with delivery expected within 2 weeks

Description

Following his timely and well-received A Failure of Capitalism, Richard Posner steps back to take a longer view of the continuing crisis of democratic capitalism as the American and world economies crawl gradually back from the depths to which they had fallen in the autumn of 2008 and the winter of 2009. By means of a lucid narrative of the crisis and a series of analytical chapters pinpointing critical issues of economic collapse and gradual recovery, Posner helps non-technical readers understand business-cycle and financial economics, and financial and governmental institutions, practices, and transactions, while maintaining a neutrality impossible for persons professionally committed to one theory or another.

He calls for fresh thinking about the business cycle that would build on the original ideas of Keynes.

Central to these ideas is that of uncertainty as opposed to risk.

Risk can be quantified and measured. Uncertainty cannot, and in this lies the inherent instability of a capitalist economy. As we emerge from the financial earthquake, a deficit aftershock rumbles.

It is in reference to that potential aftershock, as well as to the government’s stumbling efforts at financial regulatory reform, that Posner raises the question of the adequacy of our democratic institutions to the economic challenges heightened by the greatest economic crisis since the Great Depression.

The crisis and the government’s energetic response to it have enormously increased the national debt at the same time that structural defects in the American political system may make it impossible to pay down the debt by any means other than inflation or devaluation.

Information

Save 2%

£26.95

£26.19

Available to Order - This title is available to order, with delivery expected within 2 weeks
Add to Basket
Sign in to add to wishlist
 
Free Home Delivery

on all orders

 
Pick up orders

from local bookshops

Information