Which way goes capitalism? : in search of adequate policies in a dramatically changing world / Daniel Daianu.

Format:

Book

Author/Creator:

Daianu, Daniel.

Language:

English

Subjects (All):

Capitalism--European Union countries.

Capitalism.

International trade.

International finance.

European Union countries--Economic policy.

European Union countries.

European Union countries--Foreign economic relations.

Physical Description:

1 online resource (298 p.)

Edition:

1st ed.

Place of Publication:

Budapest ; New York : Central European University Press, 2009.

Language Note:

English

Summary:

In this title, a well-known academic economist and former finance minister gives a lucid and well balanced overview of the current financial turbulences that have hit the developed economies. Strongly criticizing the excesses of neoliberal capitalism, Daianu calls for implementing necessary regulatory reforms in the financial sector and for restoration of a proper balance between the functions of the state and the market. Daianu goes back to some of the roots of the current crisis and the flaws or weaknesses of the global financial system. In doing so, he extensively discusses the monetary union of the Euro, and the critical question whether, how and when additional countries can and should join the club. This is a timely volume with a very strong and important warning.

Contents:

Frontmatter

Table of Contents

Foreword

Acknowledgements

Introduction. Return to Common Sense Is Needed

Chapter 1. Institutional and Policy Diversity as an Engine of Economic Development

Introduction

I. What Influences Institutional and Policy Diversity?

II. An Historical Perspective

III. Examining the Record

IV. Where Do We Stand?

V. Transition Economies and Institutional and Policy Diversity

VI. Concluding Remarks

References

Chapter 2. Ethical Lapses of Capitalism: How Serious They Are

I. Introduction

II. Ethics and Economy

III. Understanding Micro and Macro Behaviours

IV. Institutional Responses to Ethical Lapses

V. Conclusion: Whither Capitalism?

Chapter 3. Why This Financial Crisis Is Occurring—How to Respond to It

II. A Classification of Financial Crises

III. The Current Crisis—What Has Triggered It and Its Implications

IV. How to Respond to This Crisis

V. Summing Up

Chapter 4. What This Financial Crisis Tells Us

I. The Calculation Debate Revisited

II. Is Only Greed to Be Blamed?

III. What This Crisis Teaches Us

IV. Limits of Openness

Chapter 5. A Strained European Model—Is Eastern Enlargement to Blame?

II. The ESM and the Roots of Its Strain

III. The Race for Competitiveness

IV. Who Fears Globalisation?

V. High Growth Rates Are Not Enough: The Case of Central Europe

VI. The Future of the ESM

Chapter 6. The Monetary Union: The Decade Ahead. The Case of Non-Member States

II. The First Decade of Monetary Union

III. Old and New Challenges for the Monetary Union

IV. Challenges for the New Member States

V. Concluding Remarks

Chapter 7. The EU Budget Review: Managing Diversity for a Growing EU

II. The History of the EU Budget: A Small Economic Instrument of Great Political Clout

III. The European Union in the New Global Context: Challenges and Opportunities

IV. Principles of the Reform

V. Reviewing and Reforming the Budget: Concrete Measures to Take

VI. Implementation of New Provisions

VII. Concluding Remarks

Chapter 8. A Clash of Capitalisms

I. Public Policy in Today’s World: A Plea for Open- Mindedness and Pragmatism

II. Which Globalisation?

III. The EU at “Midlife”: Cause for Celebration, but with Guarded Optimism

IV. Capitalism vs. Capitalism in the 21st century

V. Final Remarks

Epilogue. Keynes Is Back

Appendix 1. European Parliament Resolution of 9 October 2008 with Recommendations to the Commission on Lamfalussy Follow-Up: Future Structure of Supervision (2008/2148(INI)

Appendix 2. Financial Markets Cannot Govern Us

Appendix 3. The Recurrence of Financial Crises in Economic History

Appendix 4. Three-Month Inter-bank Spread Rates Over the Base Rate

Index

Notes:

Bibliographic Level Mode of Issuance: Monograph

Includes bibliographical references and index.

Description based on print version record.

ISBN:

1-003-72380-2

615-5211-68-X

963-386-244-2

1-283-24826-3

9786613248268

1-4416-1815-5

9781003723806

OCLC:

433665023