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Title: The Boom and the Bubble: The US in the World Economy by Robert Brenner ISBN: 1-85984-636-X Publisher: Verso Books Pub. Date: June, 2002 Format: Hardcover Volumes: 1 List Price(USD): $23.00 |
Average Customer Rating: 4.5 (2 reviews)
Rating: 5
Summary: Apocalpyse Now
Comment: Contrary to one reviewer, I found this book truly engrossing. Brenner powerfully summarizes how the rate of profit of world manufacturing fell (with its many implications). To rectify this problem, Greenspan made borrowing easier. As an aside, he notes how CEO's then used their corporations to borrow and buy the very stocks on which their options were based, thereby enriching themselves in a speculative frenzy. However, this is hardly the story: Brenner's analysis explains the crushing attacks on social spending as well as our current war drive--suggesting how this too will fail, leaving only the historic capitalist method for eliminating overcapacity, the elimination of enterprises by economic crisis.
Rating: 4
Summary: Refreshing views, but a bit overwelming by details
Comment: The book gives good insight in US economic and financial development during the 1990-ies. Brenner argues well for his criticism of the uniqueness of the so called New Economy, of which he must be regarded as a great disbeliever. It is also refreshing to read a well documented criticism of US monetary policy under Fed Chairman Alan Greenspan, whom Brenner sees as a player with heavy responsibility of the unprecedented inflation of US equity prices in the last half of the 1990-ies. Unfortunately Brenner's prose is rather dry and his text is accompanied by a high density of numbers. This documents his arguments well but demands great patience from the lay reader.
The book went to the press in mid 2001 which naturally leaves out the market turbulence July 2002. Nevertheless his analysis gives the patient reader a solid background for understanding the recent developments in US financial markets. And what may be in store...
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Title: Empire of Capital by Ellen Meiksins Wood ISBN: 1859845029 Publisher: Verso Books Pub. Date: June, 2003 List Price(USD): $22.00 |
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Title: The Global Gamble: Washington's Faustian Bid for World Dominance by Peter Gowan ISBN: 1859842712 Publisher: Verso Books Pub. Date: August, 1999 List Price(USD): $20.00 |
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Title: Contours of Descent: US Economic Fractures and the Landscape of Global Austerity by Robert Pollin ISBN: 1859846734 Publisher: Verso Books Pub. Date: September, 2003 List Price(USD): $21.00 |
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Title: Incoherent Empire by Michael Mann ISBN: 1859845827 Publisher: Verso Books Pub. Date: October, 2003 List Price(USD): $25.00 |
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Title: Models of Capitalism: Growth and Stagnation in the Modern Era by David Coates ISBN: 0745620590 Publisher: Polity Pr Pub. Date: January, 2000 List Price(USD): $37.95 |
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