The Cost of Capitalism Market Madness 8 ppt
The Cost of Capitalism Market Madness_1 pptx
... change. Indeed, if one embraces the efficient market hypothesis, the price of a capital asset is the embodiment of the present value of incomes to be received in the future. Thus, every decision ... to owners of stock. Moreover, Financial Markets as a Source of Instability • 49 because of the leveraged nature of their wagers, they lose substantial wealth and become...
Ngày tải lên: 22/06/2014, 18:20
The Cost of Capitalism Market Madness_4 pptx
... Conundrum Fosters the Housing Bubble • 127 02010099 989 79695949392919 089 888 786 2000 180 0 1600 1400 1200 1000 80 0 In 000s, SAAR, 3-Month Moving Average Housing Activity Ignored the 2001 Recession New ... was clear that the Bush tax cuts had put the U.S. economy into high gear did Fed policy makers begin to raise interest rates. 1 28 • T HE C OST OF C APITALISM 0503019997959...
Ngày tải lên: 22/06/2014, 18:20
The Cost of Capitalism Market Madness_5 ppt
... 147 080 6040200 989 694929 088 8 684 8 280 787 6747270 686 6646260 585 6 20000 10000 80 00 6000 4000 2000 In Billions of Chained 2000 $s, Log Scale Growth Is the Goal and Growth Is the Rule NIPA: Real GDP Figure 13.1 080 6040200 989 694929 088 8 684 8 280 787 6747270 686 6646260 585 6 10 8 6 4 2 0 –2 –4 Year ... things go awry, the insurer pays the buyer. Either way, one of...
Ngày tải lên: 22/06/2014, 18:20
The Cost of Capitalism Market Madness_8 ppt
... modern finance, 181 , 185 cost of capitalism, 63, 152, 182 – 183 economist wed to accounting concepts, 184 expanding upon Schumpeter’s ideas, 56 finance as the key force for may- hem, 7 8 financial instability ... 2 08 as the main engines of cycles, 22 policy of benign neglect toward, 79 Assets Asian, 95–96, 99–100, 181 – 182 of banks, 34, 181 – 182 houses as, 132 prices,...
Ngày tải lên: 22/06/2014, 18:20
The Cost of Capitalism Market Madness_2 pdf
... Emerged in the 1 980 s • 89 violent retrenchment in the world of finance can be laid at the doorstep of these three grand miscalculations. Nonetheless, it is a big mistake to lay the blame for these ... Octo- ber 20 08 that asset markets needed to be added to the Fed’s list of poten- tially destabilizing excesses. Why? Sadly, it was not the force of ideas that carried t...
Ngày tải lên: 22/06/2014, 18:20
The Cost of Capitalism Market Madness_3 pot
... 1930s. The Japanese economy, feared as a rival to the United States in the late 1 980 s, receded into near obscurity over the next 10 years (see Figure 8. 2). 98 • T HE C OST OF C APITALISM 89 888 786 8 584 83 40000 36444 3 288 9 29333 257 78 22222 186 67 15111 11556 80 00 5000 4556 4111 3667 3222 27 78 2333 188 9 1444 1000 Index ... large debts. They borrowed money, mostly...
Ngày tải lên: 22/06/2014, 18:20
The Cost of Capitalism Market Madness_6 potx
... been tied to the stock market. . . . The risk is that 200 • T HE C OST OF C APITALISM 10 080 6040200 989 694929 088 8 684 8 280 787 6747270 686 6646260 11 10 9 8 7 6 5 Share (%) Where Might the Estimates ... than I do with the remedies I propose. 12 However, even amidst the imposing shadow of the 20 08 crisis, the record of free market capitalism over the past 50...
Ngày tải lên: 22/06/2014, 18:20
The Cost of Capitalism Market Madness_7 pot
... their own devices, the various world 210 • T HE C OST OF C APITALISM Figure 16.1 080 6040200 989 694929 088 8 684 8 280 787 6747270 686 66462 130 105 80 55 30 Share(%) Rescue Policy Efforts Must Be Geared ... of 20 08, many champions of free market capitalism warned about the tenuous nature of the global credit markets. Warren Buffett, the sage of Omaha, labeled the...
Ngày tải lên: 22/06/2014, 18:20
The Cost of Capitalism: Understanding Market Mayhem and Stabilizing our Economic Future_2 pptx
... GDP 040200 989 694929 088 8 684 8 280 787 6747270 686 6646260 585 65452 it is not the time to dream of punishing the guilty. Central banks must overcome their squeamishness, incorporate asset prices in their defi- nition of ... 27 Figure 2.1 040200 989 694929 088 8 684 8 280 787 6747270 686 6646260 585 65452 15 10 5 0 −5 Year over Year % Change The Great Inflation of the 1960s-19...
Ngày tải lên: 20/06/2014, 20:20
The Cost of Capitalism: Understanding Market Mayhem and Stabilizing our Economic Future_4 pot
... to the Fed’s list of poten- tially destabilizing excesses. Why? Sadly, it was not the force of ideas that carried the day. It was the end of the Great Moderation. The breath- taking nature of the ... excessive uses of risk and concentration of investment. And the interplay of these two flaws explains each of the major economic declines of the past 25 years...
Ngày tải lên: 20/06/2014, 20:20