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A Failure Of Capitalism
''A Failure of Capitalism: The Crisis of '08 and the Descent into Depression'' is a 2009 book by legal scholar Richard Posner. The text was initially published on May 1, 2009, by Harvard University Press. Posner criticizes President George W. Bush and his administration's policies and the response to the fiscal crisis, and moves away from his past well-known advocacy of free-market capitalism. The book has been primarily noted not for his criticism of progressive government policies, but rather his critique of laissez-faire capitalism and its ideologues. The book has been received with generally good reviews from the press, including ''The New York Times'', but the reception has not been universally positive. Synopsis The primary argument of the book is that we have gone from a recession into a depression (the "D" word, as one author calls it) in 2009, and Posner suggests several possible short-term and long-term solutions to this fiscal crisis. His thesis is not that governmen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Richard Posner
Richard Allen Posner (; born January 11, 1939) is an American legal scholar and retired United States circuit judge who served on the U.S. Court of Appeals for the Seventh Circuit from 1981 to 2017. A senior lecturer at the University of Chicago Law School, Posner was identified in '' The Journal of Legal Studies'' as the most-cited legal scholar of the 20th century. As of 2021, he is also the most-cited United States legal scholar of all time. He is widely considered to be one of the most influential legal scholars in the United States. Posner is known for his scholarly range and for writing on topics outside of law. In his various writings and books, he has addressed animal rights, feminism, drug prohibition, same-sex marriage, Keynesian economics, law and literature, and academic moral philosophy, among other subjects. Posner is the author of nearly 40 books on jurisprudence, economics, and several other topics, including ''Economic Analysis of Law'', ''The Economics of J ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Privatization
Privatization (rendered privatisation in British English) can mean several different things, most commonly referring to moving something from the public sector into the private sector. It is also sometimes used as a synonym for deregulation when a heavily regulated private company or industry becomes less regulated. Government functions and services may also be privatised (which may also be known as "franchising" or "out-sourcing"); in this case, private entities are tasked with the implementation of government programs or performance of government services that had previously been the purview of state-run agencies. Some examples include revenue collection, law enforcement, water supply, and prison management. Another definition is that privatization is the sale of a state-owned enterprise or municipally owned corporation to private investors; in this case shares may be traded in the public market for the first time, or for the first time since an enterprise's previous natio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bill Clinton
William Jefferson Clinton (né Blythe III; born August 19, 1946) is an American politician and lawyer who was the 42nd president of the United States from 1993 to 2001. A member of the Democratic Party (United States), Democratic Party, he previously served as the attorney general of Arkansas from 1977 to 1979 and as the governor of Arkansas from 1979 to 1981, and again from 1983 to 1992. Clinton, whose policies reflected a centrist "Third Way" political philosophy, became known as a New Democrats (United States), New Democrat. Born and raised in Arkansas, Clinton graduated from Georgetown University in 1968, and later from Yale Law School, where he met his future wife, Hillary Clinton, Hillary Rodham. After graduating from law school, Clinton returned to Arkansas and won election as state attorney general, followed by Governorships of Bill Clinton, two non-consecutive tenures as Arkansas governor. As governor, he overhauled the state's education system and served as Chai ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brooksley Born
Brooksley Elizabeth BornCalifornia Births, 1905 - 1995Brooksley Elizabeth Born/ref> (born August 27, 1940) is an American attorney and former public official who, from August 26, 1996, to June 1, 1999, was chair of the Commodity Futures Trading Commission (CFTC), the federal agency which oversees the U.S. futures and commodity options markets. During her tenure on the CFTC, Born lobbied Congress and the President to give the CFTC oversight of off-exchange markets for derivatives, in addition to its role with respect to exchange-traded derivatives,"Concept Release Concerning Over-The-Counter Derivatives market" CFTC Release #4142-98, May 7, 1998. but her warnings were ignored or dismissed, and her calls for reform resisted by other regulators. Born res ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nouriel Roubini
Nouriel Roubini (; born March 29, 1958) is a Turkish-born Iranian-American economic consultant, economist, speaker and writer. He is a professor emeritus since 2021 at the Stern School of Business of New York University. Roubini earned a BA in political economics at Bocconi University in Italy and a doctorate in international economics at Harvard University. He was an academic at Yale and a researcher/advisor researching emerging markets. In the 1990s, during the Bill Clinton administration, for one year he was a senior economist in the Council of Economic Advisers. Roubini is a frequent critic of Bitcoin and other cryptocurrencies. Early life Roubini was born in Istanbul, Turkey, to Iranian Orthodox Jewish parents.Loch Adamson (October 12, 2011)"How Nouriel Roubini Became a Research Brand" ''Institutional Investor''. His father was a rug dealer. When he was young, Roubini was expected to go into the rug business himself, and follow in his father's footsteps. When he was a yea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Robert Shiller
Robert James Shiller (born March 29, 1946) is an American economist, academic, and author. As of 2022, he served as a Sterling Professor of Economics at Yale University and is a fellow at the Yale School of Management's International Center for Finance. Shiller has been a research associate of the National Bureau of Economic Research (NBER) since 1980, was vice president of the American Economic Association in 2005, its president for 2016, and president of the Eastern Economic Association for 2006–2007. He is also the co‑founder and chief economist of the investment management firm MacroMarkets LLC. Shiller is known for four major intellectual contributions: 1) he co-developed the Case-Shiller housing price index, which uses a statistical technique to value a house based upon recent sales prices of other houses; 2) he challenged the Efficient Market Hypothesis (EFM), using a statistical model that showed that the U.S. stock market was more volatile than it should be if the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stephen S
Stephen or Steven is an English first name. It is particularly significant to Christians, as it belonged to Saint Stephen ( ), an early disciple and deacon who, according to the Book of Acts, was stoned to death; he is widely regarded as the first martyr (or " protomartyr") of the Christian Church. The name, in both the forms Stephen and Steven, is often shortened to Steve or Stevie. In English, the female version of the name is Stephanie. Many surnames are derived from the first name, including Stephens, Stevens, Stephenson, and Stevenson, all of which mean "Stephen's (son)". In modern times the name has sometimes been given with intentionally non-standard spelling, such as Stevan or Stevon. A common variant of the name used in English is Stephan ( ); related names that have found some currency or significance in English include Stefan (pronounced or in English), Esteban (often pronounced ), and the Shakespearean Stephano ( ). Origins The name "Stephen" (and its ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marc Faber
Marc Faber (born February 28, 1946; nicknamed "Dr. Doom") is a Swiss investor based in Thailand. He is the publisher of the ''Gloom Boom & Doom Report'' newsletter, and the director of Marc Faber Ltd, which acts as an investment advisor and fund manager."Faber, Marc" in ''Who's Who of the Asian Pacific Rim, Volume 6'', pg. 105. Published by Barons Who's Who, 1998. Faber also serves as director, advisor, and shareholder of a number of investment funds that focus on emerging and frontier markets, including Asia Frontier Capital Ltd.'s AFC Asia Frontier Fund. Faber is credited for advising his clients to get out of the stock market before the October 1987 crash, and with in 2005-06 writing extensively about an impending crash of home prices, prior to the 2008 financial crisis. In 2017 he was criticized for racist remarks. Career Faber was born in Zurich, Switzerland, and schooled in Zurich and Geneva, where he raced for the Swiss National Ski Team (B-Team). He studied economics ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Peter Schiff
Peter David Schiff (; born March 23, 1963; nicknamed "Dr. Doom") is an American stockbroker, financial commentator, and radio personality. He co-founded Echelon Wealth Partners in Canada (formerly Euro Pacific Canada). He is involved in other financial services companies including Euro Pacific Asset Management, as an independent investment advisor, and Schiff Gold (formerly Euro Pacific Precious Metals). He has criticized US banking and credit practices. Personal life Schiff was born to a middle-class Jewish family in New Haven, Connecticut. His father, Irwin Schiff, who was the son of Jewish immigrants from Poland, served in the US Army during World War II. Schiff's parents divorced when he was young and he moved around the country with his mother and his brother, Andrew, from Connecticut to Manhattan to Florida and finally to Southern California. Peter Schiff credits his father for introducing him to the Austrian School of economic thought. Irwin Schiff was a prominent figure ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gary Shilling
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Meredith Whitney
Meredith Ann Whitney (born November 20, 1969) is an American businesswoman and financial analyst. She is known for successfully forecasting the 2008 financial crisis, and was dubbed “The Oracle of Wall Street” by ''Bloomberg''. Education and career Whitney grew up in Bethesda, Maryland. She graduated from Madeira School in 1987, before attending a post-graduate year at Lawrenceville School, becoming a member of its first co-ed graduating class. She graduated with honors from Brown University in 1992 with a B.A. in history. Whitney joined Oppenheimer Holdings in 1993 as a director, and in 1995 she joined the company's Specialty Finance Group. In 1998, she left Oppenheimer to become an executive director at Wachovia. Whitney returned to Oppenheimer in 2004, where she researched banks and brokers as a managing director. She resigned from Oppenheimer on February 19, 2009, to establish her own firm, Meredith Whitney Advisory Group (MWAG), where she produced company-specific equi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alan Greenspan
Alan Greenspan (born March 6, 1926) is an American economist who served as the 13th chairman of the Federal Reserve from 1987 to 2006. He worked as a private adviser and provided consulting for firms through his company, Greenspan Associates LLC. First nominated to the Federal Reserve by President Ronald Reagan in August 1987, Greenspan was reappointed at successive four-year intervals until retiring on January 31, 2006, after the second-longest tenure in the position, behind only William McChesney Martin. President George W. Bush appointed Ben Bernanke as his successor. Greenspan came to the Federal Reserve Board from a consulting career. Although he was subdued in his public appearances, favorable media coverage raised his profile to a point that several observers likened him to a "rock star". Democratic leaders of Congress criticized him for politicizing his office because of his support for Social Security privatization and tax cuts. Many have argued that the "easy-mo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
