The Roaring Nineties: A New History of the World's Most Prosperous Decade

The Roaring Nineties: A New History of the World's Most Prosperous Decade

by Joseph E. Stiglitz
The Roaring Nineties: A New History of the World's Most Prosperous Decade

The Roaring Nineties: A New History of the World's Most Prosperous Decade

by Joseph E. Stiglitz

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Overview

How one of the greatest economic expansions in history sowed the seeds of its own collapse.

With his best-selling Globalization and Its Discontents, Joseph E. Stiglitz showed how a misplaced faith in free-market ideology led to many of the recent problems suffered by the developing nations. Here he turns the same light on the United States.

The Roaring Nineties offers not only an insider's illuminating view of policymaking but also a compelling case that even the Clinton administration was too closely tied to the financial community—that along with enormous economic success in the nineties came the seeds of the destruction visited on the economy at the end of the decade.

This groundbreaking work by the Nobel Prize-winning economist argues that much of what we understood about the 1990s' prosperity is wrong, that the theories that have been used to guide world leaders and anchor key business decisions were fundamentally outdated. Yes, jobs were created, technology prospered, inflation fell, and poverty was reduced. But at the same time the foundation was laid for the economic problems we face today. Trapped in a near-ideological commitment to free markets, policymakers permitted accounting standards to slip, carried deregulation further than they should have, and pandered to corporate greed. These chickens have now come home to roost.

The paperback includes a new introduction that reviews the continued failure of the Bush administration's policies, which have taken a bad situation and made it worse.

Product Details

ISBN-13: 9780393078381
Publisher: Norton, W. W. & Company, Inc.
Publication date: 02/07/2011
Sold by: Barnes & Noble
Format: eBook
Pages: 448
Sales rank: 842,877
File size: 561 KB

About the Author

About The Author
Joseph E. Stiglitz is a Nobel Prize–winning economist and the best-selling author of People, Power, and Profits: Progressive Capitalism for an Age of Discontent; Globalization and Its Discontents Revisited: Anti-Globalization in the Age of Trump; The Price of Inequality; and Freefall. He was chairman of the Council of Economic Advisers under President Clinton, chief economist of the World Bank, named by Time as one of the 100 most influential individuals in the world, and now teaches at Columbia University and is chief economist of the Roosevelt Institute.

Table of Contents

Prefaceix
Acknowledgmentsxxv
Chapter 1Boom and Bust: Seeds of Destruction3
Chapter 2Miracleworkers, or Lucky Mistakes?29
Chapter 3The All-Powerful Fed and Its Role in Inflating the Bubble56
Chapter 4Deregulation Run Amok87
Chapter 5Creative Accounting115
Chapter 6The Banks and the Bubble140
Chapter 7Tax Cuts: Feeding the Frenzy170
Chapter 8Making Risk a Way of Life180
Chapter 9Globalization: Early Forays202
Chapter 10Enron241
Chapter 11Debunking the Myths269
Chapter 12Toward a New Democratic Idealism: Vision and Values281
Epilogue: Further Lessons on How to Mismanage the Economy320
Notes337
Index359
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