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21

America: Too Big to Fail?

Bankers, Bailouts, and Blaming the State

1
terms
2
notes

Blyth, M. (2015). America: Too Big to Fail?. In Blyth, M. Austerity: The History of a Dangerous Idea. Oxford University Press, pp. 21-50

24

[...] as financial markets became more deregulated in the 1980s, large corporations began to use their own cash reserves, lending them to one another directly--they disintermediated--bypassing banks and squeezing bank profits. [...]

—p.24 by Mark Blyth 1 year, 10 months ago

[...] as financial markets became more deregulated in the 1980s, large corporations began to use their own cash reserves, lending them to one another directly--they disintermediated--bypassing banks and squeezing bank profits. [...]

—p.24 by Mark Blyth 1 year, 10 months ago
39

[...] who should get, for example, a tax cut? The Keynesian wants to give it to the poor so they will consume now to boost demand and consumption. Meanwhile, the neoliberal wants to give it to the rich to invest wisely. [...]

—p.39 by Mark Blyth 1 year, 10 months ago

[...] who should get, for example, a tax cut? The Keynesian wants to give it to the poor so they will consume now to boost demand and consumption. Meanwhile, the neoliberal wants to give it to the rich to invest wisely. [...]

—p.39 by Mark Blyth 1 year, 10 months ago

(stagnation + inflation) when inflation is high, the economic growth rate slows, and unemployment remains steadily high

40

the economy of the mid-1970s seemed to trade in inflation with unemployment in a phenomenon called "stagflation", where wages/prices (inflation)and unemployment rose together

in an apparent contradiction of the Phillips curve, which many by this point took as the sine qua non of Keynesianism

—p.40 by Mark Blyth
notable
1 year, 10 months ago

the economy of the mid-1970s seemed to trade in inflation with unemployment in a phenomenon called "stagflation", where wages/prices (inflation)and unemployment rose together

in an apparent contradiction of the Phillips curve, which many by this point took as the sine qua non of Keynesianism

—p.40 by Mark Blyth
notable
1 year, 10 months ago