Roaring 90s 咆哮的90年代 下载 pdf 百度网盘 epub 免费 2025 电子书 mobi 在线

A Nobel Prize-winning economist and author of Globalization and Its Discontents challenges perceptions about financial theories stemming from the apparent prosperity of the 1990s, noting such factors as reduced accounting standards and deregulation that caused the economic problems of today. Reprint. 50,000 first printing.

Publisher Comments:

"The Roaring Nineties offers not only an insider's illuminating view of policymaking but also a compelling case that even the Clinton administration was too closely tied to the financial community--that along with enormous economic success in the nineties came the seeds of the destruction visited on the economy at the end of the decade. The paperback includes a new introduction that reviews the continued failure of the Bush administration's policies, which have taken a bad situation and made it worse.

Synopsis:

Stiglitz offers not only an insider's illuminating view of policymaking but also alleges that even the Clinton administration was too closely tied to the financial community--that along with enormous economic success in the nineties came the seeds of the destruction visited on the economy at the end of the decade.

From Publishers Weekly

As an economic adviser to President Clinton and a World Bank official, Nobel Prize winner Stiglitz (Globalization and Its Discontents) had a front-row seat for the financial boom of the 1990s. He discusses how, contrary to all theory, reducing the national deficit led to the economic upswing, but his interest lies not in how the bubble happened but in those qualities that eventually led to its collapse. One of his chief arguments is that although efficient markets depend upon the free flow of information, deregulation enabled corporations like Enron to present distorted financial data, "stealing money from their unwary shareholders" in the process. Financial analysts also withheld frank assessments from investors to maintain their insider status, and the "conflicts of interest gone out of control" inevitably led to disaster. The book suggests Federal Reserve chairman Alan Greenspan could have slowed things down, but failed to back up tentative public remarks with firm action. The Clinton administration also comes in for some of the blame for pressuring foreign countries to adopt policies it wouldn't apply to its own economy. But the largest portion of the blame is doled out to George W. Bush for mishandling the initial stages of the recession, allowing it to spiral dangerously in the name of free markets. Instead, Stiglitz calls for just enough regulation to promote what he dubs "Democratic Idealism," a fairly standard liberal platform of social justice and economic reform. Whatever one thinks of his long-term goals, the straightforward and well-reasoned summation of the last decade's market trends has a convincing ring of truth.

From Booklist

Stiglitz, a Nobel Prize-winning economist and academic who served in the Clinton administration, reflects on his experiences in Washington and what he learned there. Among his many themes, he declares his beliefs that government should play a major (if limited) oversight role in the markets and that it should be an advocate for social justice. He feels that the rule of finance in the 1990s was supreme and government deferred too much to Wall Street; the prosperity and growth of that decade laid the foundation for today's economic problems, including too much deregulation, inadequate accounting standards, and pandering to corporate greed. Issues of globalization concern him greatly, and he analyzes the current situation in America and other developed countries and suggests future action. Although critical of Clinton-era policies, he reserves much harsher analysis for both Bush administrations. Stiglitz believes that citizens must understand the basic issues confronting our society and the way their government works; this book^B is an excellent primer.

　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　Mary Whaley

Book Dimension

Height (mm) 212 　　　　　　　　　　　　　　　Width (mm) 142

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然而，尽管新经济也许被大肆吹嘘，它还是真实存在的。互联网是真实的。创新、通讯方式的进步，以及随之而来的做生意的新方式，都是真实的。正如18世纪和19世纪标志着农业社会向工业社会转型一样，20世纪的前四分之三标志着制造业经济向服务业经济的转型，而20世纪末期标志着一种向无形经济，即知识经济的转型。作为一种在思想生产方面的革命，这一运动和早些时候在产品生产方面的变化同等重要。创新的速度有所增加，这反映在生产率增长的速度有所增加上面。而且尽管测量和会计方面的问题也许导致我们高估了这些增长的程度，但是这些增长毕竟是真实的。

实际上，即使在经济陷入衰退之后，生产率方面的增长仍在持续，这导致创造工作机会的问题变得更加困难。这是生产率增长的双刃剑。当经济充分运用了其资源时，生产率的增长导致了GDP的增长、更高的工资以及生活水平的改善。当经济陷入衰退时——当限制产出的不是供给而是需求时——一切都发生了逆转。如果由于需求限制，产出今年只能增长1%，但是每个工人的产出能够增长3%，这意味着我们只需要更少的工人；失业率将会上升。在短期之内，更高的生产率实际上甚至可能导致更低水平的产出。更高的失业率将会以致工资水平，而且工作方面不确定性的增加将会抑制消费水平，或者至少会抑制消费水平的增长率。但是由于存在着大量的过剩生产能力，无论是从更低工资中获得的更高利润，还是更低的利率，都不能够导致投资的增加。由于消费的增长速度下降，而且又没有其他因素能够代替它，因此总体产出将会低迷甚至下降。

……甚至在这十年的早些时候，在克林顿政府的任期内，我们已经认识到随着创新速度的加快，在劳动力市场上将会发生重大变化。我们知道终生工作制（A Lifetime Job)已经成为往事。我们热衷于谈论的话题是“终生可雇佣性”（Lifetime Employability）（而不是终生工作）和终生学习（Lifetime Learning），因为这能够使得人们更加容易地更换工作。数据显示那些受教育程度更高的人能够更加轻易地更换工作，当他们失去工作进而又找到一个新工作时，收入下降的程度也更低。由于工作的流动性，人们需要流动性更强的养老金，而且由于医疗保险经常通过雇主来提供，因此它也需要具有更强的流动性。此外，当人们失业时，我们应该针对保险的覆盖范围做一些工作。

……在繁荣时期，企业从养老基金中抽出数额巨大的资金，把它增加到利润中去。在衰退时期，企业应该把钱从利润中抽出来，把它注入到养老基金中去，使得利润变得更小，企业能够用于投资的资金更少，并且使得投资者对于曾经高高在上不可一世的公司的业绩甚至变得更加悲观。

书籍介绍

A Nobel Prize-winning economist and author of Globalization and Its Discontents challenges perceptions about financial theories stemming from the apparent prosperity of the 1990s, noting such factors as reduced accounting standards and deregulation that caused the economic problems of today. Reprint. 50,000 first printing.

Publisher Comments:

"The Roaring Nineties offers not only an insider's illuminating view of policymaking but also a compelling case that even the Clinton administration was too closely tied to the financial community--that along with enormous economic success in the nineties came the seeds of the destruction visited on the economy at the end of the decade. The paperback includes a new introduction that reviews the continued failure of the Bush administration's policies, which have taken a bad situation and made it worse.

Synopsis:

Stiglitz offers not only an insider's illuminating view of policymaking but also alleges that even the Clinton administration was too closely tied to the financial community--that along with enormous economic success in the nineties came the seeds of the destruction visited on the economy at the end of the decade.

From Publishers Weekly

As an economic adviser to President Clinton and a World Bank official, Nobel Prize winner Stiglitz (Globalization and Its Discontents) had a front-row seat for the financial boom of the 1990s. He discusses how, contrary to all theory, reducing the national deficit led to the economic upswing, but his interest lies not in how the bubble happened but in those qualities that eventually led to its collapse. One of his chief arguments is that although efficient markets depend upon the free flow of information, deregulation enabled corporations like Enron to present distorted financial data, "stealing money from their unwary shareholders" in the process. Financial analysts also withheld frank assessments from investors to maintain their insider status, and the "conflicts of interest gone out of control" inevitably led to disaster. The book suggests Federal Reserve chairman Alan Greenspan could have slowed things down, but failed to back up tentative public remarks with firm action. The Clinton administration also comes in for some of the blame for pressuring foreign countries to adopt policies it wouldn't apply to its own economy. But the largest portion of the blame is doled out to George W. Bush for mishandling the initial stages of the recession, allowing it to spiral dangerously in the name of free markets. Instead, Stiglitz calls for just enough regulation to promote what he dubs "Democratic Idealism," a fairly standard liberal platform of social justice and economic reform. Whatever one thinks of his long-term goals, the straightforward and well-reasoned summation of the last decade's market trends has a convincing ring of truth.

From Booklist

Stiglitz, a Nobel Prize-winning economist and academic who served in the Clinton administration, reflects on his experiences in Washington and what he learned there. Among his many themes, he declares his beliefs that government should play a major (if limited) oversight role in the markets and that it should be an advocate for social justice. He feels that the rule of finance in the 1990s was supreme and government deferred too much to Wall Street; the prosperity and growth of that decade laid the foundation for today's economic problems, including too much deregulation, inadequate accounting standards, and pandering to corporate greed. Issues of globalization concern him greatly, and he analyzes the current situation in America and other developed countries and suggests future action. Although critical of Clinton-era policies, he reserves much harsher analysis for both Bush administrations. Stiglitz believes that citizens must understand the basic issues confronting our society and the way their government works; this book^B is an excellent primer.

　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　Mary Whaley

Book Dimension

Height (mm) 212 　　　　　　　　　　　　　　　Width (mm) 142