Why our addiction to debt caused the global financial crisis and is the root of our financial woes Adair Turner became chairman of Britain's Financial Services Authority just as the global financial crisis struck in 2008, and he played a leading role in redesigning global financial regulation. In this eye-opening book, he sets the record straight about what really caused the crisis. It didn’t happen because banks are too big to fail—our addiction to private debt is to blame. Between Debt and the Devil challenges the belief that we need credit growth to fuel economic growth, and that rising debt is okay as long as inflation remains low. In fact, most credit is not needed for economic growth—but it drives real estate booms and busts and leads to financial crisis and depression. Turner explains why public policy needs to manage the growth and allocation of credit creation, and why debt needs to be taxed as a form of economic pollution. Banks need far more capital, real estate lending must be restricted, and we need to tackle inequality and mitigate the relentless rise of real estate prices. Turner also debunks the big myth about fiat money—the erroneous notion that printing money will lead to harmful inflation. To escape the mess created by past policy errors, we sometimes need to monetize government debt and finance fiscal deficits with central-bank money. Between Debt and the Devil shows why we need to reject the assumptions that private credit is essential to growth and fiat money is inevitably dangerous. Each has its advantages, and each creates risks that public policy must consciously balance.
A noted economist challenges the fundamental economic assumptions that cast economic growth as the objective and markets as the universally applicable means of achieving it. The global economic crisis of 2008–2009 seemed a crisis not just of economic performance but also of the system's underlying political ideology and economic theory. But a second Great Depression was averted, and the radical shift to New Deal-like economic policies predicted by some never took place. Perhaps the correct response to the crisis is simply careful management of the macroeconomic challenges as we recover, combined with reform of financial regulation to prevent a recurrence. In Economics After the Crisis, Adair Turner offers a strong counterargument to this somewhat complacent view. The crisis of 2008–2009, he writes, should prompt a wide set of challenges to economic and political assumptions and to economic theory. Turner argues that more rapid growth should not be the overriding objective for rich developed countries, that inequality should concern us, that the pre-crisis confidence in financial markets as the means of pursuing objectives was profoundly misplaced.
The global economic crisis of 2008-2009 seemed a crisis not just of economic performance but also of the system's underlying political ideology and economic theory. But a second Great Depression was averted, and the radical shift to New Deal-like economic policies predicted by some never took place. Perhaps the correct response to the crisis is simply careful management of the macroeconomic challenges as we recover, combined with reform of financial regulation to prevent a recurrence. In Economics After the Crisis, Adair Turner offers a strong counterargument to this somewhat complacent view. The crisis of 2008-2009, he writes, should prompt a wide set of challenges to economic and political assumptions and to economic theory. Turner argues that more rapid growth should not be the overriding objective for rich developed countries, that inequality should concern us, that the pre-crisis confidence in financial markets as the means of pursuing objectives was profoundly misplaced.
Ground-breaking, challenging and at times provocative, Adair Turners Just Capital addresses a vital question: how do we combine economic dynamism with social inclusion and environmental responsibility? The answer lies in embracing the power of market economics without accepting the simple dogmas of extreme free-market and conservative philosophy. Turners approach combines rigorous economic analysis with a clear vision of an attractive social philosophy, a philosophy that rejects twentieth-century socialism as much as conservative laissez-faire. Just Capital both provokes debate and offers radical new solutions to questions that have perplexed both left and right for decades.
Flamenco dance and bullfighting are parallel arts with shared traditions, performance conventions and vocabularies of movement. This volume introduces readers to an ongoing discussion in Spanish scholarship about the links between these two quintessentially Spanish arts. The author--a dancer and a student of bullfighting--describes the informal practice of both arts in private settings and their emergence as formal public rituals in the bullfighting arena and on the flamenco stage. Key bullfighting techniques and their influence on flamenco dance style are discussed in the context of understanding the worldview and kinesthetic culture of Spain.
This book helps explain some of Max Weber's key concepts such as charisma, asceticism, mysticism, pariah-people, prophets, salvation, and theodicy and places them within the context of Weber's sociology of religion.
The Intellectual Origins of Jeffersonian Democracy, available for the first time in this Lexington Books edition, is Douglass Adair's first major work of historical inquiry. Adair was a mentor to many of the nation's leading scholars and has long been admired for his original and profound observations about the founding of the American republic. Written in 1943, The Intellectual Origins of Jeffersonian Democracy has been praised widely as the seminal analysis of the origins of American democracy. The passage of time has not dulled Adair's arguments; instead, his critique of economic determinism, his emphasis on the influence of ideology on the Founders, and his belief in the importance of civic virtue and morality to good republican government have become ever more critical to our conception of American history. With judicious prose and elegant insights, Adair explores the classical and modern European heritage of liberalism, and he raises fundamental questions about the nature of democratic government. This book is for any serious reader interested in American intellectual history, political thought, and the founding of the republic.
The Story of the B-52s: Neon Side of Town is the first critical history of one of the most legendary and influential bands in American popular music. Locating The B-52s in the intellectual climate of their hometown of Athens, GA and following the band from New York’s downtown scene in the early 1980s to their upcoming farewell tour, the book argues that The B-52s are much more significant political and musical influences on American society than their reputation as a silly party band suggests, and that their ongoing commitment to values including cooperation, mutual support, and using disruptive fun as a form of social change are an antidote to the neoliberalization sweeping both Athens and the rest of the Western world. For example, the book shows how the band synthesized influences from the modern artists displayed at the University of Georgia art museum, early queer activism on campus in the 1970s, and their experiences as queer people living through the AIDS crisis to create music that continues to be artistically and politically influential today. The authors are active members of the Athens, GA music scene, and the book includes original interviews with a range of number close to the band.
Raymond Aron made major investigations into the dialectic between war and peace, and also developed a sophisticated theory of international relations. Despite this, his body of work has been overlooked compared to that of his more famous contemporaries. This book shines a light on both the man and his work on ideological critique, the philosophy of history, international relations and political economy. The book also discusses Aron's political legacy and argues that a number of his critiques and theories can help us address many of the problems and conflicts of the 21st century.
Justice is truth. When a neighbor, Tim Bartin, is killed and another neighbor, Joe Miller, is charged with the shooting, Adair McGee is advised to let the judicial process work. The lack of official information about the case leads to the use of social media as the main resource for information and polarizes the community. Adair is advised that the truth will come out in the end. When it doesn’t, she looks for answers. How could a man, who was not hunting, be charged by the Pennsylvania Game Commission with three violations of the hunting code? Why did the District Attorney bring this incident, classified as a misdemeanor, to the court? Why, when the state’s evidence seemed to absolve the accused, was the case prosecuted? Was the District Attorney seeking the truth or a conviction? Who shot Tim Bartin and why? This story proves once again that fact is stranger than fiction.
This volume is a collection of ten articles by Christopher Adair-Toteff that examine the fundamental aspects of Max Weber's sociology of religion. They were published between 2002 and 2015 in various renowned journals and deal with various topics such as charisma, asceticism, mysticism, theodicy, prophets, and "Kulturprotestantismus." In his work, the author reflects the attempt to understand, clarify, and interpret key concepts and themes in Weber's sociology of religion.
Professional Development Schools: Researching Lessons from the Field provides a comprehensive analysis of PDS research that can aid PDS stakeholders in designing and sustaining meaningful research in their partnerships. Breault and Breault used an extensive qualitative meta-synthesis to examine the research over the past 20 years. Their comprehensive review of 300 studies provides a.deep understanding of the challenges and potential within PDSs. The authors offer analysis regarding key elements of PDSs and highlight strong studies including a large-scale, multi-site study and studies using mixed methods and action research effectively. They also highlight exemplary studies showing how pilot studies are effective ways to research new partnerships, how theory can lead to greater abstraction, and how metaphor can clarify complex relationships. This book is an essential resource for all stakeholders involved in professional development schools.
This book examines the largely-neglected shift in Max Weber’s work from political economy to economic sociology. Considering the importance of his recognition—made during his research on the Protestant Ethic—of the reciprocal influences that exist between economics and society and the role of this realization in prompting him to rethink the study of political economy, the author sheds fresh light on his emerging belief that the study of the relationship between economic factors and social issues required a new discipline. A study that charts an important development in the thought of one of the founding figures of sociology, this volume will appeal to scholars of social theory with interests in the history of the field and the legacy of Max Weber.
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