Wednesday, February 22, 2006
Panic Rules!: Everything you need to know about the global economy (1999)
Author: Robin Hahnel
Credentials:
Professor of Economics Education in American University, Washington D.C.
Was a Fulbright Senior Lecturer in Lima, Peru (1985) and awarded the National Merit Scholarship by Harvard University in 1964-8. Visiting Scholar to University of Manchester (2000) and James Madison University (2004)
Author of 10 books (including this one) and numerous book chapters and articles
Brief: http://en.wikipedia.org/wiki/Robin_Hahnel
Publisher: South End Press
Table of Contents:
Chapter 1 The Bloom off the Boom
Chapter 2 Deconstructing the Neoliberal Myth
Chapter 3 The Latest Bust
Chapter 4 Understanding the Crisis
Chapter 5 How Asia Caught the Flu
Chapter 6 The IMF to the Rescue
Chapter 7 What Should We Want? What Should We Fear?
Chapter 8 Mainstream Reform Proposals
Chapter 9 Progressive Reform Proposals
Conclusion Lilliputian Luddites Until Globalization Can Be Built from Below
Comments:
This is a useful and thought-provoking book on the global economy. If you are trying to make sense of the global economy, but do not know how, this is the book for you.
In essence, the book forces you to consider the 'evils' of the credit system, as well as the potential mass psychology can inflict onto the global economy. This can be summed up by the following rules mentioned in the book:
Rules for Holding Wealth
#1: Get your priorities straight. Remember that how to hold your wealth should be your major economic councern, and whether or not your govt is helping you preserve your wealth or making it more difficult should be your first criterion for supporting/opposing any govt.
#2: There is no such thing as "salting" wealth away. You must choose to hold your wealth in some form.
#3: There is no way to hold wealth that does not entail some risk that it will be lost.
Rules of behaviour in a credit system
#1: Don't Panic. The likelihood of the credit system crashing is lessened.
#2: Panic first! This rule each participant must be careful to follow herself.
Recommended for reading if you are interested to know more about the global economy (including a brief history). However, be prepared for some difficulty along the way. ¶ 1:46 pm
Author: Robin Hahnel
Credentials:
Professor of Economics Education in American University, Washington D.C.
Was a Fulbright Senior Lecturer in Lima, Peru (1985) and awarded the National Merit Scholarship by Harvard University in 1964-8. Visiting Scholar to University of Manchester (2000) and James Madison University (2004)
Author of 10 books (including this one) and numerous book chapters and articles
Brief: http://en.wikipedia.org/wiki/Robin_Hahnel
Publisher: South End Press
Table of Contents:
Chapter 1 The Bloom off the Boom
Chapter 2 Deconstructing the Neoliberal Myth
Chapter 3 The Latest Bust
Chapter 4 Understanding the Crisis
Chapter 5 How Asia Caught the Flu
Chapter 6 The IMF to the Rescue
Chapter 7 What Should We Want? What Should We Fear?
Chapter 8 Mainstream Reform Proposals
Chapter 9 Progressive Reform Proposals
Conclusion Lilliputian Luddites Until Globalization Can Be Built from Below
Comments:
This is a useful and thought-provoking book on the global economy. If you are trying to make sense of the global economy, but do not know how, this is the book for you.
In essence, the book forces you to consider the 'evils' of the credit system, as well as the potential mass psychology can inflict onto the global economy. This can be summed up by the following rules mentioned in the book:
Rules for Holding Wealth
#1: Get your priorities straight. Remember that how to hold your wealth should be your major economic councern, and whether or not your govt is helping you preserve your wealth or making it more difficult should be your first criterion for supporting/opposing any govt.
#2: There is no such thing as "salting" wealth away. You must choose to hold your wealth in some form.
#3: There is no way to hold wealth that does not entail some risk that it will be lost.
Rules of behaviour in a credit system
#1: Don't Panic. The likelihood of the credit system crashing is lessened.
#2: Panic first! This rule each participant must be careful to follow herself.
Recommended for reading if you are interested to know more about the global economy (including a brief history). However, be prepared for some difficulty along the way. ¶ 1:46 pm
