Boom Bust And Crisis

Why do stock and housing markets sometimes experience amazing booms followed by massive busts and why is this happening more and more frequently? Boom and Bust reveals why bubbles happen, and why some bubbles have catastrophic economic, social and political consequences, whilst others have actually benefited society.

Over the past decade, Canadians have experienced wild economic swings: an economic boom followed by massive layoffs in traditional industries and a wrenching economic crisis. What have these changes meant for Canadian workers? Bad jobs? Weaker unions? Worsening health? If so, why? Boom, Bust, and Crisis addresses these questions by surveying how work has changed across Canada, from the auto and steel industries of Ontario, to the tar sands of Northern Alberta and First Nations casinos in Saskatchewan. This edited collection explains the massive lay-offs in unionized manufacturing industries, the expansion of low-wage work and the rise of increasingly aggressive employers by critically examining Canada's political economy and assessing the impact of government policy and labour market deregulation on Canada's workers. The book also explores the recent policy changes to employment standards and health and safety protection in the context of neoliberal globalization. Written by leading political scientists, sociologists and journalists in concise, accessible language, this volume provides a rich and vibrant assessment of why some businesses have boomed while others have failed and why, through it all, Canadian workers have paid the price.

Eirikur Bergmann explains the exceptional case of Iceland's fantastical boom, bust and rapid recovery after the Crash of 2008 and explores the lessons for the wider EU crisis and for over-reaching economies that over-rely on financial markets.

Brazil is at crossroads, emerging slowly from a historic recession that was preceded by a huge economic boom. Reasons for the historic bust following a boom are manifold. Policy mistakes were an important contributory factor, and included the pursuit of countercyclical policies, introduced to deal with the effects of the global financial crisis, beyond the point where they were helpful. More fundamentally, it reflects longstanding structural weaknesses plaguing the economy, that also help explain Brazil’s uninspiring growth performance over the past four decades.

As the tensions in the Greek economy take centre stage in the international headlines, this book examines the failed policies and political corruption that have bankrupted the nation. The authors comment on recent bailouts and haircuts and explore the uncertain future of Greece in the Eurozone.

This is a plain-English explanation of how we got into the current economic disaster that developed out of the economics and politics of the housing boom and bust. The "creative" financing of home mortgages and the even more "creative" marketing of financial securities based on American mortgages to countries around the world, are part of the story of how a financial house of cards was built up -- and then suddenly collapsed. The politics behind all this is another story full of strange twists. No punches are pulled when discussing politicians of either party, the financial dangers they created, or the distractions they created later to escape their own responsibility for what happened when the financial house of cards in the financial markets collapsed. What to do, now that we are in the midst of an economic disaster, is yet another story -- one whose ending we do not yet know, but one whose outlines and implications are explored to reveal some surprising and sobering lessons.

While the recent economic crisis was a painful period for many Americans, the panic surrounding the downturn was fueled by an incomplete understanding of economic history. Economic hysteria made for riveting journalism and effective political theater, but the politicians and members of the media who declared that America was in the midst of the greatest financial calamity since the Great Depression were as wrong and misguided as the expansionists of the Roosevelt era. In reality the cyclical nature of market economies is as old as the markets themselves. In a free market system, financial downturns inevitably accompany economic prosperity-but the overall trend is upward progress in living standards and national wealth. While it is helpful to understand what caused the recent crisis, the more important questions to consider are 'What makes the 'boom and bust' cycle so predictable?' and 'What are the ethical responsibilities of the citizens of a free market economy?' In Boom and Bust: Financial Cycles and Human Prosperity, Alex J. Pollock argues that while economic downturns can be frightening and difficult, people living in free market economies enjoy greater health, better access to basic necessities, better education, work less arduous jobs, and have more choices and wider horizons than people at any other point in history. This wonderful reality would not exist in the absence of financial cycles. This book explains why.

Recent years have seen more than a dozen corporate crises across Australia and New Zealand, ranging from cyber attacks to natural disasters and corporate scandals. These crises adversely impact company financials and reputation and, unless managed effectively, often cost the jobs of senior executives and board members. Are you prepared? Or are you just hoping it won’t happen on your watch? Successful leaders don’t simply survive during a crisis – they have the knowledge, resources and tools to emerge resilient and stronger. They thrive. In Boom or Bust, Grant Chisnall brings together lessons in crisis management from the military and fifteen years of advising executive teams through some of the most significant crisis events in recent corporate history. Crises happen. Boom or Bust. The outcome is up to you. This book will arm you to lead your business through adversity and beyond.