Macroeconomics (4th Edition)
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“Mr. Minsky long argued markets were crisis prone. His ‘moment’ has arrived.” -The Wall Street Journal
In his seminal work, Minsky presents his groundbreaking financial theory of investment, one that is startlingly relevant today. He explains why the American economy has experienced periods of debilitating inflation, rising unemployment, and marked slowdowns-and why the economy is now undergoing a credit crisis that he foresaw. Stabilizing an Unstable Economy covers:
- The natural inclination of complex, capitalist economies toward instability
- Booms and busts as unavoidable results of high-risk lending practices
- “Speculative finance” and its effect on investment and asset prices
- Government’s role in bolstering consumption during times of high unemployment
- The need to increase Federal Reserve oversight of banks
Henry Kaufman, president, Henry Kaufman & Company, Inc., places Minsky’s prescient ideas in the context of today’s financial markets and institutions in a fascinating new preface. Two of Minsky’s colleagues, Dimitri B. Papadimitriou, Ph.D. and president, The Levy Economics Institute of Bard College, and L. Randall Wray, Ph.D. and a senior scholar at the Institute, also weigh in on Minsky’s present relevance in today’s economic scene in a new introduction.
A surge of interest in and respect for Hyman Minsky’s ideas pervades Wall Street, as top economic thinkers and financial writers have started using the phrase “Minsky moment” to describe America’s turbulent economy. There has never been a more appropriate time to read this classic of economic theory.
Author:Hyman P. Minsky
Hardcover:350 pages
Company:McGraw-Hill(2008-04-14)
ISBN:0071592997
List Price:$34.95
Amazon Price:$18.43
Used Price:$17.96
Stabilizing an Unstable Economy
Winning by not competing: a fresh approach to strategy Since the dawn of the industrial age, companies have engaged in head-to-head competition in search of sustained, profitable growth. They have fought for competitive advantage, battled over market share, and struggled for differentiation. Yet these hallmarks of competitive strategy are not the way to create profitable growth in the future. In a book that challenges everything you thought you knew about the requirements for strategic success, W. Chan Kim and Rene Mauborgne argue that cutthroat competition results in nothing but a bloody red ocean of rivals fighting over a shrinking profit pool. Based on a study of 150 strategic moves spanning more than a hundred years and thirty industries, the authors argue that lasting success comes not from battling competitors, but from creating “blue oceans”: untapped new market spaces ripe for growth. Such strategic moves—which the authors call “value innovation”—create powerful leaps in value that often render rivals obsolete for more than a decade. Blue Ocean Strategy presents a systematic approach to making the competition irrelevant and outlines principles and tools any company can use to create and capture blue oceans. A landmark work that upends traditional thinking about strategy, this book charts a bold new path to winning the future.
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