Description
Book SynopsisThe Great Recession, including the preceding events and the subsequent recovery period, has been the dominant feature of US capitalism in the 21st century. But what can we learn about economic behavior, policies, and relationships by studying this period of marked general decline? Understanding the Great Recession seeks to answer this question by facilitating an advanced theoretical and practical understanding of the Great Recession, using multiple approaches to economic analysis.
This textbook uses the Great Recession as a case study for understanding economic concepts, the conduct of policymaking, and competing schools of economic thought. It introduces readers to multiple perspectives on the crisis, including feminist, institutionalist, Marxian, monetarist, neoclassical, post-Keynesian, and stratification economics, amongst others. Divided into four parts, the textbook begins by introducing readers to the headline events of the crisis, and the major differences betwe
Table of Contents
Part I: Understanding the Crisis 1. Introduction to the Great Recession Part II: The Road to the Great Recession 2. US Capitalism Prior to 2008 3. The Housing Market Bubble (and Bust) 4. Financial Structure, Financial Crisis, and the Wall Street Bailouts 5. Competing Explanations of the Crisis Part III: Policy Responses to the Great Recession 6. Financial Reform 7. Monetary Policy Responses to the Great Recession 8. Fiscal Policy Responses to the Great Recession Part IV: The Recovery from the Great Recession 9. Inequality, Populism, and the Arc to Covid-19
