Failed: What the "Experts" Got Wrong about the Global Economy

Mark Weisbrot

You are here: Home - Uncategorized - Failed: What the "Experts" Got Wrong about the Global Economy


Failed: What the "Experts" Got Wrong about the Global Economy

Failed What the Experts Got Wrong about the Global Economy Why has the Eurozone ended up with an unemployment rate than twice that of the United States than six years after the collapse of Lehman Brothers Why did the vast majority of low and middle income cou

  • Title: Failed: What the "Experts" Got Wrong about the Global Economy
  • Author: Mark Weisbrot
  • ISBN: null
  • Page: 131
  • Format: Kindle Edition
  • Why has the Eurozone ended up with an unemployment rate than twice that of the United States than six years after the collapse of Lehman Brothers Why did the vast majority of low and middle income countries suffer a prolonged economic slowdown in the last two decades of the 20th century What was the role of the International Monetary Fund in these economic faiWhy has the Eurozone ended up with an unemployment rate than twice that of the United States than six years after the collapse of Lehman Brothers Why did the vast majority of low and middle income countries suffer a prolonged economic slowdown in the last two decades of the 20th century What was the role of the International Monetary Fund in these economic failures Why was Latin America able to achieve substantial poverty reduction in the 21st century after than two decades without any progress Failed analyzes these questions, explaining why these important economic developments of recent years have been widely misunderstood and in some cases almost completely ignored First, in the Eurozone, Mark Weisbrot argues that the European authorities political agenda, which included shrinking the welfare state, reducing health care, pension, and other social spending, and reducing the bargaining power of labor played a very important role in prolonging the Eurozone s financial crisis and pushing it into years of recession and mass unemployment This conclusion is based not only on public statements of European officials, but also on thousands of pages of documentation from consultations between the IMF and European governments after 2008.The second central theme of Failed is that there are always practical alternatives to prolonged economic failure Drawing on the history of other financial crises, recessions, and recoveries, Weisbrot argues that regardless of initial conditions, there have been and remain economically feasible choices for governments of the Eurozone to greatly reduce unemployment including the hardest hit, crisis ridden country of Greece.The long term economic failure of developing countries, its social consequences, as well as the subsequent recovery in the first decade of the 21st century, constitute the third part of the book s narrative, one that has previously gotten too little attention We see why the International Monetary Fund has lost influence in middle income countries Failed also examines the economic causes and consequences of Latin America s second independence and rebound in the twenty first century, as well as the challenges that lie ahead.

    • [PDF] Download ✓ Failed: What the "Experts" Got Wrong about the Global Economy | by ☆ Mark Weisbrot
      131 Mark Weisbrot
    • thumbnail Title: [PDF] Download ✓ Failed: What the "Experts" Got Wrong about the Global Economy | by ☆ Mark Weisbrot
      Posted by:Mark Weisbrot
      Published :2019-02-18T13:44:36+00:00

    One thought on “Failed: What the "Experts" Got Wrong about the Global Economy

    1. Gary on said:

      I would like to start with a brief quote taken from Chapter 1 footnote 47: “We are assuming here…” This ideally, should have been the title of the book.This book is filled with as many charts, graphs, and other data as you could wish for. It would have made for interesting reading except for one glaring typo that occurred consistently in the first quarter of the book, the use of the letter “w” in the word “could.” This author had an agenda that he went after with highly biased, bor [...]

    2. Darren on said:

      The sub-title to this book is “what the ‘experts’ got wrong about the global economy” and seeing that immediately reminded one of a phrase that was popular when this reviewer was young: “expert: x is an unknown quantity and spurt is a drip under pressure.” In many ways, it is a rather apt description of the so-called experts, the masters of the universe, who are acting on our collective behalf.The author seeks to look at why so many experts have failed to understand the global econom [...]

    3. Dylan on said:

      Fascinating and easy-to-read critique of mainstream economic policies. Weisbrot is strongly opposed to austerity measures, as they've been applied in much of the Global South and in Europe, and he marshals a good deal of economic evidence to argue that these policies have been terrible by almost any measure. He argues that measures designed to corral inflation, reduce budget deficits, privatize resources, cut social spending, and limit taxation have generally had negative outcomes in terms of in [...]

    4. Gio on said:

      The title says it all: the author obviously has an axe to grind with the world's economic experts and the IMF in particular. In his scathing criticism, he doesn't hold back punches and is obviously not afraid to offend anyone.Weisbrot is completely against austerity measures, believing they shrink the economy and widen the inequality gulf, making the rich richer and the poor poorer. He puts a lot of the blame for those measures squarely on the shoulders of the IMF, believing countries would be b [...]

    5. Rob Trump on said:

      Like a data-driven (instead of anecdote-driven) version of Boomerang: Travels in the New Third World - that is to say, a better version. Much of this will fail to blow your mind if you've paid any attention to global economics over the last ten years (the troika pushes pro-cyclical policies that worsen recessions? YOU DON'T SAY), but all of it is still commendably strong, and the chapters on various countries in Latin America are indispensable.

    6. NathanFisher on said:

      I'm giving this an extra star for accessibility -- breezy and concise, this is my new go-to recommendation for what to get your bourgie semi-economically minded relatives who need a push in the right direction.

    7. Gary Itano on said:

      15a02 #### GaryNull .30 Black Peoples' Perspective .45 Dr. Mark Weisbrot, Oliver Stone’s 'So of the Border' & 'Failed- What Experts Got Wrong About Global Econ' CEPR 3

    Leave a Reply

    Your email address will not be published. Required fields are marked *