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.

part Part I|40 pages

Problems of the Roller Coaster Economy

chapter 1|11 pages

Boom, Bust, and Misery

The Curse of Capitalism

chapter 2|14 pages

History of the Roller Coaster

chapter 3|13 pages

How Unstable Is the American Economy?

part 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 9|18 pages

Government Spending and Taxes

chapter 10|18 pages

The Trade Gap

How Boom and Bust Spread Around the Globe

part Part III|34 pages

Diagnosis and Cure of the Roller Coaster Economy

chapter 12|17 pages

The Public Option for Health and Jobs

How Democratization Can End the Business Cycle