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Panic Rules!

125 pages, 1999

economics & politics

economics & politics

987 books
Takeaways
Description
Although the global economy enjoyed beneficial outcomes in terms of deregulation, markets were allowed to soar to heights never known before, thus creating what was called a "disaster capitalism. " The Great Recession that began in 2007 (the fourth major financial crisis in the last fifty years) has been described by Nobel Prize-winning economist Joseph Stiglitz as "the worst economic crisis since the Great Depression. " After the initial market decline following "Black Monday" on October 19, 1987, no financial institution or country collapsed. But when the 2008 credit crisis hit, several institutions across the world lost more than half their value.
Understanding the Global Economy

In Panic Rules!, Robin Hahnel takes us on a journey to explore the complexities of the global economy. He breaks down complicated economic concepts into simple, understandable terms. This book is a great starting point for anyone looking to understand how the world economy functions.

The Role of Financial Markets

Hahnel digs deep into the role of financial markets in the global economy. He explains how these markets can both stabilize and destabilize economies, leading to periods of growth and recession. It's a fascinating look into the power and influence of financial markets.

The Impact of Economic Policies

Panic Rules! is not just about understanding the economy, it's about seeing the real-world impact of economic policies. Hahnel shows how decisions made by policymakers can have far-reaching effects, often leading to economic crises.

The Importance of Economic Equality

Hahnel emphasizes the importance of economic equality. He argues that a fair and equitable economy is not just morally right, but also essential for economic stability. This book will make you rethink your views on economic inequality.

A Call to Action

Panic Rules! is not just a book about understanding the economy, it's a call to action. Hahnel encourages readers to get involved and make a difference. Whether you're an economist, a student, or just a concerned citizen, this book will inspire you to take action.

Recommendations

1
authorNoam Chomsky

Noam Chomsky

educatorscientist