The Boom and the Bubble: The US in the World Economy

The Boom and the Bubble: The US in the World Economy

A sustained period of significant growth in the US, however, seemed to save the day against all the odds. So impressive was the surface appearance of this rescue mission that all manner of commentators proclaimedâ€”once againâ€”that a â€˜new economyâ€™ or â€˜new paradigmâ€™ of unlimited and harmonious growth had been forged.

Today, as recession looms, the babble about Internet start-ups is exposed as vapid. Yet the pundits are no nearer an understanding of how or why the boom turned into a bubble, or why the bubble has burst. In this crisp and forensic book, Robert Brenner demonstrates that the boom was always a fragile phenomenonâ€”buoyed up by absurd levels of debt and stock-market overvaluationâ€”which never broke free from the fundamental malady of overcapacity and overproduction which continues to afflict the global economy.

Carefully dismantling the myths and hype that surround the US boom in terms of profitability, investment, and productivity, Brenner restores the properly international context to the process. He portrays the â€˜zero-sumâ€™ character of the American success, which presupposed the relative weakness of its main German and Japanese competitors: a strategy that has laid huge obstacles in the path of a â€˜soft landingâ€™ to end the current phase of growth.

A substantial new Postscript provides and up-to-date analysis of the Bush economic debacleâ€”the crisis of manufacturing, the telecom bust, the record twin deficits, plummeting employment, and the real estate bubble.

Country	USA
Author	Robert Brenner
Binding	Paperback
Brand	Brand: Verso
EAN	9781859844830
Feature	Used Book in Good Condition
ISBN	1859844839
Label	Verso
Manufacturer	Verso
MPN	Illustrations
NumberOfItems	1
NumberOfPages	318
PartNumber	Illustrations
PublicationDate	2003-10
Publisher	Verso
ReleaseDate	2003-11-17
Studio	Verso

The Boom and the Bubble: The US in the World Economy

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