Description
Book SynopsisCanterbery's latest literary work provides a definitive account of the Great Recession of 2007-2010. It presents an output-employment framework for evaluating the Great Recession. A chapter on the Great Depression provides a basis for comparison while outlining the institutions still intact that moderated that downturn. Finally, the aftermath of the recession is accounted for.In 2003 John Kenneth Galbraith, who knew both Michal Kalecki and John Maynard Keynes, called Canterbery, ';the best.';
Table of ContentsAn Output-Employment Framework; The Role of Money; The Great Depression; Precursors to the Great Recession; The Spring 2008 Financial Crisis; The Housing Bubble; The Subprime Mortgage Collapse; Complications from Derivatives; The Global Dimension; The Economic Crisis of Summer 2008; The Fiscal Stimulus; The Unconventional Use of Monetary Policy; The Crisis in the Automotive Industry and Obama's Response; Culmination of the Housing and Banking Crises; The Conduct of Monetary Policy Under Bernanke; The Aftermath and the Future.
