The Global Financial Crisis

by Noah Berlatsky

Overview

This book explores possible causes of the global economic crisis, including lack of banking regulation, greed of financial institutions, decisions of the Federal Reserve, and the abandonment of the gold standard. Examines the differing impacts of the crisis on wealthy nations and developing nations, and why some nations are weathering the crisis better than others. Discusses potential solutions to the crisis, such as regulatory reform and lowering restrictions on trade.

Product Details

ISBN-13:	9780737747263
Publisher:	Greenhaven Publishing LLC
Publication date:	01/30/2010
Series:	Global Viewpoints Series
Pages:	264
Product dimensions:	5.90(w) x 8.90(h) x 0.70(d)
Age Range:	14 - 17 Years

Table of Contents

Foreword 13

Introduction 16

Chapter 1 Causes of the Global Financial Crisis

1 China and Russia Blame U.S. Policies for the Crisis Jenny Booth 22

2 The Greed of Financial Institutions Caused the Crisis Oskari Juurikkala 27

3 "Boom Thinking" Caused the Crisis Robert J. Shiller 32

4 The Weakness of Banking Regulations Caused the Crisis Vince Cable 42

5 Low Interest Rates Caused the Crisis Tito Boeri Luigi Guiso 53

6 Abandoning the Gold Standard Caused the Crisis Dominic Lawson 59

7 United States and China Must Join Forces to Control Crisis Michael Pettis 65

Periodical Bibliography 72

Chapter 2 Effects of the Global Financial Crisis on Wealthier Nations

1 In the United States, the Financial Crisis Creates Tent Cities and Homelessness Kathy Sanborn 74

2 Canada Will Not Suffer a Subprime Mortgage Crisis Jonathan Kay 80

3 Australia's Economy Remains Bound Up with That of the United States Sean Carmody 85

4 The European Union Is Buckling Under the Crisis Edward Hugh 92

5 In Iceland, an Economic Miracle Ended in Disaster Andrew Pierce 101

6 The Crisis Fuels Unrest in France, Britain, China, and Russia Thomas H?etlin Andreas Lorenz Christian Neef Matthias Schepp Stefan Simons 108

7 Israel Will Cut Social Programs, but Not Military Spending Daniel Rosenberg 121

Periodical Bibliography 127

Chapter 3 Effects of the Global Financial Crisis on Developing Nations

1 Worldwide, Migrant Workers Are Threatened by Job Losses and Xenophobia Ron Synovitz 129

2 In India and China, the Crisis May Worsen Poverty Jayshree Bajoria 135

3 China Could Use the Crisis to Become a Responsible World Power Jing Men 143

4 The Philippines Is in a Good Position to Weather the Crisis Antonio A. Esguerra II 150

5 Latin America Is Struggling to Deal with the Crisis Woodrow Wilson 157

6 Islamic Banks Are Insulated from the Crisis Faiza Saleh Ambah 164

Periodical Bibliography 170

Chapter 4 Solutions to the Global Financial Crisis

1 International Investments Complicate the Financial Crisis and Its Remedy Michael Mandel 172

2 Protectionist Measures Will Worsen the Crisis Jaime Daremblum 180

3 In Africa, Ending Neoliberal Economic Policies Will Solve the Crisis Demba Moussa Dembele 186

4 U.S. Bailouts Are Corporate Welfare and Will Not Solve the Crisis George Monbiot 201

5 Japan's Experiences Provide Lessons for Dealing with the Crisis Masaaki Shirakawa 207

6 The United States Should Follow Sweden's Example and Nationalize Its Banks Matthew Richardson Nouriel Roubini 219

7 Sweden's Experience Does Not Provide Support for Bank Nationalization Fredrik Erixon 225

Periodical Bibliography 231

For Further Discussion 232

Glossary 234

Organizations to Contact 238

Bibliography of Books 245

Index 249

Editorial Reviews

Review: The Global Financial Crisis "Greenhaven Press has a hot print reference series to check out. Appropriate for high schoolers and general readers, the ‘Global Viewpoints' series contains news and magazine articles, authoritative essays, and primary-source documents and will grow by eight to ten per year."—Library Journal, March 15, 2009

From the Publisher