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Social Capital, Inequality, and Economic Crisis
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In this article, the authors compare experiences in the United States to those in Sweden and Iceland to draw useful lessons and compare the two countries' experiences in terms of economic and financial crisis.Abstract:
Economic growth is produced in part by the accumulation of different kinds of capital, including social capital in its several forms. If such capital depreciates, including social capital, the economy can be undermined and financial and economic crises can follow. The author compares experiences in the United States to those in Sweden and Iceland to draw useful lessons.read more
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The Price of Inequality: How Today's Divided Society Endangers Our Future
TL;DR: The Price of Inequality: How Today's Divided Society Endangers Our Future by Joseph E. Stiglitz and Paul R. Krugman as mentioned in this paper is a good summary of the main themes of the book.
The Great Escape: health, Wealth, and the Origins of Inequality
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Freefall: America, Free Markets, and the Sinking of the World Economy
TL;DR: Stiglitz's Freefall as mentioned in this paper is another excellent discussion of the global economic crisis, authored by a man who ranks high among the commentators, and is a member of the Council of Economic Advisors of the United Nations.
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The Bankers' New Clothes: What's Wrong with Banking and What to Do about It
Anat R. Admati,Martin Hellwig +1 more
TL;DR: Admati and Hellwig as discussed by the authors argue that banks are as fragile as they are not because they must be, but because they want to be--and they get away with it.
Fault Lines How Hidden Fractures Still Threaten The World Economy
TL;DR: Raghuram G. Rajan, a professor at the University of Chicago and former chief economist at the International Monetary Fund, proves the exception to Greenberg's rule of unsatisfactory endings.
References
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About Capital in the Twenty-First Century
TL;DR: In this article, the authors present three key facts about income and wealth inequality in the long run emerging from my book, Capital in the Twenty-First Century, and seek to sharpen and refocus the discussion about those trends.
Book
Capital in the Twenty-First Century
TL;DR: Piketty's Capital in the Twenty-First Century as mentioned in this paper is an intellectual tour de force, a triumph of economic history over the theoretical, mathematical modeling that has come to dominate the economics profession in recent years.
BookDOI
This Time Is Different: Eight Centuries of Financial Folly
Carmen Reinhart,Kenneth Rogoff +1 more
TL;DR: This Time Is Different as mentioned in this paper presents a comprehensive look at the varieties of financial crises, and guides us through eight astonishing centuries of government defaults, banking panics, and inflationary spikes.
Book
Is inequality harmful for growth
Torsten Persson,Guido Tabellini +1 more
TL;DR: In this article, a theoretical model for the relationship between inequality and economic growth is proposed, and the model implications are supported by the evidence that both historical panel data and post-war cross-sectional data indicate a significant and large negative relation between inequalities and growth.
Journal ArticleDOI
Inequality and Growth in a Panel of Countries
TL;DR: In this paper, a broad panel of countries showed little overall relation between income inequality and rates of growth and investment, while the Kuznets curve is a clear empirical regularity, but it does not explain the bulk of variations in inequality across countries or over time.