Titel
Deep Freeze / Iceland's Economic Collapse
Schrijver
Philipp Bagus / David Howden
Taal
Engels
ISBN
9781933550343
Uitgever
Mises Institute 2011
Prijs
€ 15,00(Excl. verzendkosten)
Meer info
It was a modern thriving economy one day, and then, suddenly, the food disappeared from the shelves, the banks closed, and the ships stopped arriving. Iceland in 2008 experienced an unprecedented economic meltdown that struck fear in the hearts of people all over the world. If it could happen here, it could happen anywhere.
The economic crisis led to a political crisis, with resignations galore. The whining and wailing about the disaster continues to this day, with most commentators blaming deregulation and the free market.
In Deep Freeze, economists Philipp Bagus and David Howden demonstrate that the real cause of the calamity was bad central bank policy. Rates were way too low, banks were too big to fail, housing was implicitly guaranteed, and banks were borrowing short term from abroad to finance long term bonds.
The authors discuss the implications of this maturity mismatching and zero in on the central bank policies that encouraged unsound practices. They demonstrate the cause and effect without a shadow of a doubt, using vast amounts of data and a detailed sector-by-sector look at the economy of Iceland.
What they find is another instance of the Austrian Theory of the Business Cycle, working itself out in a way that is customized for a time and place.
Toby Baxendale writes the introducton to this story that reads like a great novel. It serves as a reminder that central banking policies aren't just about monetary arcana. They affect our lives in profound and sometimes catastrophic ways.
The Iceland Freeze is one of the great historical cases that makes Mises’s point. Let it always serve as a reminder of what happens when the laws of the market are papered over by politicians and central bankers.
This account is likely to remain the definitive one for many years.
Authors:
Contact Philipp Bagus
Philipp Bagus is professor at Universidad Rey Juan Carlos. He is a Fellow of the Mises Institute, an IREF scholar, and the author of numerous books including In Defense of Deflation and The Tragedy of the Euro, and is coauthor of Blind Robbery!, Small States. Big Possibilities.: Small States Are Simply Better!, and Deep Freeze: Iceland's Economic Collapse.
Contact David Howden
Dr. David Howden is Chair of the Department of Business and Economics, and professor of economics, at Saint Louis University at its Madrid campus. A Fellow of the Mises Institute, he is the author of over 50 scholarly articles and books. His research focuses on the business cycle and fractional-reserve banking.
The economic crisis led to a political crisis, with resignations galore. The whining and wailing about the disaster continues to this day, with most commentators blaming deregulation and the free market.
In Deep Freeze, economists Philipp Bagus and David Howden demonstrate that the real cause of the calamity was bad central bank policy. Rates were way too low, banks were too big to fail, housing was implicitly guaranteed, and banks were borrowing short term from abroad to finance long term bonds.
The authors discuss the implications of this maturity mismatching and zero in on the central bank policies that encouraged unsound practices. They demonstrate the cause and effect without a shadow of a doubt, using vast amounts of data and a detailed sector-by-sector look at the economy of Iceland.
What they find is another instance of the Austrian Theory of the Business Cycle, working itself out in a way that is customized for a time and place.
Toby Baxendale writes the introducton to this story that reads like a great novel. It serves as a reminder that central banking policies aren't just about monetary arcana. They affect our lives in profound and sometimes catastrophic ways.
The Iceland Freeze is one of the great historical cases that makes Mises’s point. Let it always serve as a reminder of what happens when the laws of the market are papered over by politicians and central bankers.
This account is likely to remain the definitive one for many years.
Authors:
Contact Philipp Bagus
Philipp Bagus is professor at Universidad Rey Juan Carlos. He is a Fellow of the Mises Institute, an IREF scholar, and the author of numerous books including In Defense of Deflation and The Tragedy of the Euro, and is coauthor of Blind Robbery!, Small States. Big Possibilities.: Small States Are Simply Better!, and Deep Freeze: Iceland's Economic Collapse.
Contact David Howden
Dr. David Howden is Chair of the Department of Business and Economics, and professor of economics, at Saint Louis University at its Madrid campus. A Fellow of the Mises Institute, he is the author of over 50 scholarly articles and books. His research focuses on the business cycle and fractional-reserve banking.
- Alle boeken zijn compleet en verkeren in normale antiquarische staat, tenzij anders beschreven. Kleine onvolkomenheden, zoals een ingeplakte ex-libris of een naam op het schutblad, zijn niet altijd vermeld
- U handelt deze order direct af met DukeJoost
- Na uw bestelling ontvangen u en DukeJoost een bevestiging per e-mail. In de e-mail staan de naam, adres, woonplaats en telefoonnummer van DukeJoost vermeld
- De Koper betaalt de verzendkosten, tenzij anders overeen gekomen
- DukeJoost kan betaling vooraf vragen
- Boekwinkeltjes.nl probeert Kopers en Verkopers tot elkaar te brengen. Boekwinkeltjes.nl is echter nimmer partij bij een overeenkomst die gesloten wordt tussen Koper en Verkoper door gebruikmaking van de site. Als u een geschil hebt met één of meer gebruikers, dient u dit zelf op te lossen. U vrijwaart Boekwinkeltjes.nl van enigerlei vorderingen, aanspraken op schadevergoeding en dergelijke, verband houdende met dergelijke geschillen.