Nevada's great recession : looking back, moving forward / Elliott Parker, with Katherine Marshall ; foreword by Senator Harry Reid.

Format:

Book

Author/Creator:

Parker, Elliott, 1960- author.

Marshall, Katherine, author.

Language:

English

Subjects (All):

Recessions--Nevada.

Recessions.

Financial crises--Nevada.

Financial crises.

Nevada--Economic conditions--21st century.

Nevada.

Economic conditions.

Physical Description:

xiii, 242 pages ; 23 cm

Place of Publication:

Reno : University of Nevada Press, [2017]

Summary:

"Of all economic recessions experienced by the United States in the postwar period, the Great Recession that began in 2008 was the deepest, longest, and most destructive. Nevada was among the hardest hit states, its people reeling from the aftereffects, and the state government also experiencing a severe fiscal crisis. University of Nevada economics professor Elliott Parker and then-State Treasurer Kate Marshall make sense of what went wrong and why, with the hope the state will learn lessons to prevent past mistakes from being made again. This is a different kind of economics book. Parker uses his expertise from doing research on the East Asian fiscal crisis to give profound insights into what happened and how to avoid future catastrophes. Marshall personalizes it by providing vignettes of what it was actually like to be in the trenches and fighting the inevitable political battles that came up, and counteracting some of the falsehoods that certain politicians were spreading about the recession. Parker and Marshall's book should be required reading for not only every single elected official in Nevada, but for any private citizen who cares about the public good"-- Provided by publisher.

"A collection of columns, current observations, and personal stories from a university economist and the former state treasurer that document the economic troubles of the state hardest hit by the Great Recession. The authors, who were brought together by the crisis, focus on what went wrong with the state's economy and how it affected the state budget and higher education, and discuss how to prevent it from happening again"-- Provided by publisher.

Contents:

1 Introduction to Nevada's Great Recession 3

Introduction 3

1 Causes of the Crash 6

Treasurer's Vignette: Money Is Boring 10

2 Nevada's Economy after the Crash (2011) 11

Treasurer's Vignette: No Faith-based Financing 23

3 The Economics of Small States in Big Crises (2014) 25

Treasurer's Vignette: It Is Flat 29

2 Understanding the State Budget 33

Introduction 33

Treasurer's Vignette: The Mendoza Line 38

1 The State's Fiscal Situation (2009) 40

2 State Cuts Are a Drag on the Economy (2010) 43

3 To Fix Nevada, We Need to Work Together (2010) 45

4 State Fiscal Crises, the Depression, and Now (2010) 47

5 Private Sector Needs a Vital Public Sector (2010) 48

6 Changing Our Thinking on the Budget, with State Senator William Raggio (2011) 50

7 Can We Find a Way Forward? (2011) 52

3 Cutting State Spending 56

Introduction 56

Treasurer's Vignette: Down for the Count 58

1 Nevada's Problem Isn't Spending (2008) 59

2 How Much More State Government Can Be Cut? (2009) 62

Treasurer's Vignette: If the Tree Falls 65

3 With Override of Veto, a Sigh of Relief (2009) 66

4 Spending Cuts Won't Solve Nevada's Ills (2010) 69

5 Nevada's Fiscal Structure, with Stephen Miller (2010) 70

Treasurer's Vignette: Putting It on Ice 73

6 Taxes and State Economics, with Tom Harris (2011) 74

7 Is Nevada's Public Sector Too Big? (2011) 75

4 Cutting Higher Education 78

Introduction 78

1 A Letter to Governor Gibbons (2009) 80

2 College Budgets for the Perplexed, with Bruce Shively (2009) 81

3 Higher Education Funding, with Bruce Shively (2009) 92

Treasurer's Vignette: A Practical Man 100

4 Nevada Undercuts Its Future (2010) 102

5 Public Education Is in Short Supply (2010) 104

6 Cutting Budgets at the University of Nevada, Reno (2011) 105

Treasurer's Vignette: A Material Form of Hope 107

7 A Letter to Governor Sandoval (2011) 109

8 Going the Wrong Way (2011) 111

5 The National Economy 115

Introduction 115

1 Why Hasn't the Economy Recovered? (2011) 119

2 Where We Went Wrong after September 11 (2011) 122

Treasurer's Vignette: Foreclosures and "The Senator" 125

3 We'd Forgotten What a Depression Looks Like (2011) 126

4 Hyperinflation? Take a Deep Breath...(2011) 129

Treasurer's Vignette: My Staff Takes a Stand 131

5 What Happened to Employment? (2012) 133

Treasurer's Vignette: In the Ring 136

6 Not the Worst Recovery (2012) 138

7 The U.S. Economy in an Election Year (2012) 141

8 Why Is Unemployment Still So High? (2014) 145

6 Federal Fiscal Policy 151

Introduction 151

1 Does Government Spending Hurt the Economy? (2010) 157

2 Slowing the Growth of Debt, Both Public and Private (2010) 159

3 Do Taxes Kill Jobs? (2010) 160

4 Recessions, Taxes, and the Federal Deficit (2010) 162

5 How Big Is Our Government? (2011) 163

6 Budget Deficits and the Fiscal Cliff (2012) 166

7 Making Cents of the Budget (2012) 169

7 Returning to Normalcy 174

Introduction 174

1 Nevada Needs a New Economic Mindset (2013) 175

Treasurer's Vignette: Beginning with No 179

2 Nevada's Housing Recovering, with Brian Bonnenfant (2013) 181

Treasurer's Vignette: I May Be Wrong, but I Have No Doubts 185

3 The State of the State Economy (2014) 189

4 The State of the State Budget (2013) 192

5 How Big Is Nevada's New Biennial Budget? (2015) 195

Treasurer's Vignette: The Ripples of Hope 197

8 Nevada Matters 201

Introduction 201

1 Public Education Matters (2015) 202

2 Falling Wages for Nevada's Team (2015) 204

3 Retirement Security Matters (2015) 207

4 Higher Education Matters (2015) 210

5 Financial Security Matters (2015) 212

6 Good Government Matters (2015) 215

7 Campaign Finance Reform Still Matters (2015) 218

8 The Problem of Poverty (2015) 221

9 Fighting Poverty Matters (2015) 223

Kate's Vignette: The Fell Clutch of Circumstance 226

9 The Canopy of Hope 229.

Notes:

Includes bibliographical references and index.

Other Format:

Online version: Parker, Elliott, 1960- author. Nevada's great recession

ISBN:

9781943859412

1943859418

OCLC:

986027761