Bankruptcies & bailouts

by Antony, Wayne Andrew Guard, Julie

Type Book

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Title Statements

Full title :Bankruptcies & bailouts / edited by Julie Guard & Wayne Antony ; [foreword by Cy Gonick].

Summary

"Like the rest of the industrialized world, Canada is in the midst of an economic crisis that is clearly of global proportions. Yet, many prominent economists. including Nobel prize winners, failed to see it coming. This is unsurprising since, in the words of a newly humble Alan Greenspan, the crisis revealed "a flaw in the model ... that defines the way the world works." Bankruptcies and Bailouts explains the roots of this economic disaster. The essays in this book show, in clear and accessible language, that the global capitalist economy, dependent on hyper-extended credit, fuelled by systematic deregulation and rooted in the contradictions of a mad drive for unlimited profitability, must inevitably end up in this predicament. The authors also demonstrate that there are ways out of this economic mess that do not involve simply bailing out the obscenely over-paid executive whose decisions led us to this chaos."--Résumé de l'éditeur.