rdf-syntax-grammar
mods:
  schema location: http://www.loc.gov/mods/v3 http://www.loc.gov/standards/mods/v3/mods-3-2.xsd
  title info:
    non sort: The
    title: Financial Crisis Reconsidered
    sub title: The Mercantilist Origin of Secular Stagnation and Boom-Bust Cycles
  name:
    name part: Aronoff, Daniel.
    role:
      role term: creator
    role:
      role term: author.
  name:
    name part: SpringerLink (Online service)
  type of resource: text
  origin info:
    place:
      place term: xxu
    date issued: 2016
    issuance: monographic
  language:
    language term: eng
  physical description:
    form: electronic
    form: electronic resource
    reformatting quality: access
    form: remote
    extent: XVII, 291 p. online resource.
  abstract: In The Financial Crisis Reconsidered, Aronoff challenges the conventional view that reckless credit produced the US housing boom and the financial crisis, explaining how the large current account deficit, and its mercantilist origin, was a more fundamental cause. He also demonstrates that the decision to provide relief for bank creditors rather than underwater homeowners was responsible for the prolonged recession that followed the crisis. Aronoff proposes a novel theory to account for the ultimate origins of secular stagnation and economic volatility. He shows how accumulation, which occurs when a person or country earns more than it ever plans to spend, generates both an excess of saving and a deficiency in demand. While savings provide the funds to promote booms, under-consumption ensures that these booms will turn bust and that the economy will fall short of its potential growth rate. Aronoff argues that mercantilists and top income earners engage in accumulation, and that the influence of both types has grown in recent decades. Combining economic theory and historical narrative, this book offers a new perspective of the housing boom and the financial crisis, concluding with innovative policy proposals to reduce accumulation without compromising the benefits of a market economy.
  note: by Daniel Aronoff.
  subject:
    topic: Business
  subject:
    topic: Management science
  subject:
    topic: Business and Management
  subject:
    topic: Business and Management, general
  classification: HF4999.2-6182
  classification: HD28-70
  classification: 650
  related item:
    title info:
      title: Springer eBooks
  identifier: 9781137547897
  identifier: http://dx.doi.org/10.1007/978-1-137-54789-7
  record info:
    record creation date: 160224
    record change date: 20160715194557.0
    record identifier: 978-1-137-54789-7