ABSTRACT
Written by one of the foremost experts on the business cycle, this is a compelling and engaging explanation of how and why the economic downturn of 2007 became the Great Recession of 2008 and 2009. Author Howard Sherman explores the root causes of the cycle of boom and bust of the economy, focusing on the 2008 financial crisis and the Great Recession of 2008-2009. He makes a powerful argument that recessions and the resulting painful involuntary unemployment are inherent in capitalism itself. Sherman clearly illustrates the mechanisms of business cycles, and he provides a thoughtful alternative that would rein in their destructive effects.
TABLE OF CONTENTS
part I|40 pages
Problems of the Roller Coaster Economy
chapter 2|14 pages
History of the Roller Coaster
chapter 3|13 pages
How Unstable Is the American Economy?
part II|108 pages
Diagnosing the Roller Coaster
chapter 4|13 pages
The Income Gap
chapter 5|12 pages
The Consumption Gap
chapter 6|11 pages
The Housing Crisis
chapter 7|12 pages
Investment and Profit
chapter 8|20 pages
The Creadit Balloon and the Financial Crisis
chapter 9|18 pages
Government Spending and Taxes
part III|34 pages
Diagnosis and Cure of the Roller Coaster Economy