Epic recession : prelude to global depression / Jack Rasmus.

Format:

Book

Author/Creator:

Rasmus, Jack.

Language:

English

Subjects (All):

Global Financial Crisis, 2008-2009.

United States--Economic conditions--2009-.

United States.

United States--Economic policy--2009-.

United States--Economic conditions.

United States--Economic policy.

Physical Description:

1 online resource (352 p.)

Edition:

1st ed.

Place of Publication:

London ; New York : Pluto Press, 2010.

Language Note:

English

Summary:

The US is still in deep trouble. Banks are sustained by trillions of government dollars, unemployment is approaching 25 million and the long-term future of the economy is in doubt. In Epic Recession, Jack Rasmus shows that we need a new way of understanding the crisis if things are to improve.Rasmus interrogates US economic history to show that the current predicament is what he terms an 'Epic Recession', neither a full-blown depression or a short-lived period of contraction followed by a swift return to growth. He then shows that the only way to prevent the onset of depression is to radically restructure the economy through a massive job creation program, nationalisations, a fundamentally new kind of banking structure and a long-term redistribution of income through better healthcare and benefit systems.Epic Recession provides a rallying point for trade unionists and concerned citizens who want to ensure that any recovery is felt further than Wall street.

Contents:

Quantitative characteristics of epic recession

Qualitative characteristics of epic recession

The dynamics of epic recession

U.S. depressions in the nineteenth century

'Type I' epic recession : 1907-1914

'Type II' epic recession : 1929-1931

The epic recession of 2007-2010

The Bush-Obama recovery programs

An alternative program for economic recovery.

Notes:

Bibliographic Level Mode of Issuance: Monograph

Includes bibliographical references and index.

ISBN:

9781783714520

1783714522

9781849644525

1849644527

OCLC:

730518192