Epic recession: prelude to global depression
"The US is still in deep trouble. Banks are sustained by trillions of government dollars, unemployment is approaching 25 million and the long-term future of the economy is in doubt. In Epic Recession, Jack Rasmus shows that we need a new way of understanding the crisis if things are to improve....
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| Institution: | ETUI-European Trade Union Institute |
| Format: | TEXT |
| Language: | English |
| Published: |
London
2010
Pluto Press |
| Subjects: | |
| Online Access: | https://www.labourline.org/KENTIKA-19132269124919504419-epic-recession-prelude-to-glob.htm |
| Summary: | "The US is still in deep trouble. Banks are sustained by trillions of government dollars, unemployment is approaching 25 million and the long-term future of the economy is in doubt. In Epic Recession, Jack Rasmus shows that we need a new way of understanding the crisis if things are to improve. Rasmus interrogates US economic history to show that the current predicament is what he terms an 'Epic Recession', neither a full-blown depression or a short-lived period of contraction followed by a swift return to growth. He then shows that the only way to prevent the onset of depression is to radically restructure the economy through a massive job creation program, nationalisations, a fundamentally new kind of banking structure and a long-term redistribution of income through better healthcare and benefit systems. Epic Recession provides a rallying point for trade unionists and concerned citizens who want to ensure that any recovery is felt further than Wall street." |
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| Physical Description: | 340 p. Paper |