No Way to Run an Economy: Why the System Failed and How to Put it Right

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In The Credit Crunch, Graham Turner predicted that banks would be nationalised and interest rates would be reduced too slowly to halt the crisis. His predictions were correct. His new book, No Way to Run an Economy, is the essential guide to the turbulent times ahead. Turner recommended radical measures, such as quantitative easing, in early 2008 but argues that action has been taken too late and been too timid to make a real difference. He dissects the policy mistakes of the last 12 months including Obama's doomed market-led response to the crisis and the obsession of central banks with the red herring of inflation. Turner also warns that the collapse of Eastern European economies will lead to political crisis in the ex-Soviet states that embraced neoliberalism and massive debt levels so fully. There is no doubt we are in a depression, but Turner shows that learning from the mistakes made so far can prevent a situation worse than that of the 1930s crisis.
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Product Details

  • ISBN-13: 9780745329772
  • Publisher: Pluto Press
  • Publication date: 9/7/2009
  • Pages: 240
  • Product dimensions: 5.50 (w) x 8.60 (h) x 0.70 (d)

Meet the Author

Graham Turner is the author of the critically acclaimed and highly successful book The Credit Crunch. His writing regularly features in the Guardian and he has appeared on many national television and radio programs including, Newsnight, Channel 4 News and Today. He is the founder of GFC Economics, an independent economic consultancy which provides forecasting services for some of the world's largest financial organizations. He has worked in the financial sector for over 20 years, spending the 1990s working for Japanese banks.
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Table of Contents

List of Tables and Figures
GFC Economics
A warning that the US still faces depression, and that may drag the rest of the world
down. President Obama is charting a course little different from that seen under Bush.
1 From Bear Stearns to Depression
Charts the slide from the Bear Stearns'collapse into depression
2 The US and UK in the Great Depression
By looking at the Great Depression, we can see that today's politicians and central
bankers are less able to save capitalism
3 The Policy Mistakes
A critical examination of the mistakes that aggravated the collapse
4 A Global Credit Crunch
A look at the many countries sliding into depression
5 Ineptitude or Ideology?
Were policymakers inept, or blinded by ideology?
6 Charting a Way Out
Some positive suggestions for a recovery
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