The Roaring Nineties has ratings and 26 reviews. With his best-selling Globalization and Its Discontents, Joseph E. Stiglitz showed how a misplaced faith. The Roaring Nineties. A New History of the World’s Most Prosperous Decade. Joseph E. Stiglitz (Author, Columbia University). Sign up for the monthly New. Only a Nobel Prize-winning economist could disguise a political broadside against conservatives and the George W. Bush administration inside a Trojan horse.

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As long as we are saving so little, we have to borrow from abroad. Olie Hougham rated it really liked it Apr 02, Aug 25, Dinesh singh rawat rated it liked it.

The Roaring Nineties: A New History of the World’s Most Prosperous Decade by Joseph E. Stiglitz

If we in the Clinton administration sometimes lost that balance, matters have become even worse in the next administration – with the predictable consequences that our economy’s performance has become worse. We would have no debt, no T bills, and the Fed would have rkaring in undertaking open market operations.

I enjoyed the depth it went to in some parts this was the first definitive account of the s Id readand the sense of foreboding he leaves you with is compelling when taken in light of the GFC of We realized that we were not on a never-ending, upward path, but that our economy was in a downturn.

But toward the end of the decade, what seemed to be the dawn of a new era began to look more and more like one of those short bursts of economic activity, or hyperactivity, inevitably followed by a bust, which had marked capitalism for years.

If you think that economic policies administered by America during the Roaring Nineties contributed to this decade of extraordinary growth, you may be right. If we are borrowing for investment — which I recommend — that makes sense, that makes your country stronger.

The current recovery was based on low interest rates that did not lead to more investment. You can still learn and maybe even change your views. I couldn’t understand this book probably.


The final element to examine is macro policy as part of the seeds of destruction. We have deficit spending, which will be driving interest rates, but we will not have the underlying capital, either in education or infrastructure or technology or research, that will allow us to have the strength to go forward. This is a A compelling “prequel” to the financial disaster of the late s – Stiglitz makes plain what was wrong with the Ninetiies.

But he could do a little better to admit he might have ever been wrong about anything — too much of the book sounded like “Why I Was Right Jlseph Everything In The 90s” and it quickly became repetitive.

This has been the root cause of the various financial disasters including that of Enron. But at the same time the foundation was laid for the economic problems we face today. When they face real problems in the management of their economies, do they josepph to the Treasury, the IMF or to you?

The Roaring Nineties: A New History of the World’s Most Prosperous Decade

Subscribe to Read More to find out about similar books. Here he turns the same light on the United States. Sincehe has been a member of the Columbia faculty, and has held the rank of University Professor since The Roaring Nineties offers not only an insider’s illuminating view of policymaking but also a compelling case that even the With his best-selling Globalization and Its DiscontentsJoseph E.

My worry was that in the single-minded focus on deficit reduction we cut out some of the investments that were the basis of the roaring nineties, our technology, and that is jeopardizing our future. Since then we have been living off the strength of the past. When Bush came to power he inherited a weak economy, but he had one very big advantage: Lessons to be re-learned We had principles.

As the administration came into office, most of us knew what we were against. He writes a great deal about the choice of deficit reduction as a means to deal with a downturn, and examines the extent to which it can be relied upon.


It should have been clear that something was fishy about that story. Wish the book had more such nuggets. Inwhen I was on the Council of Economic Advisors, we saw this coming, way before even the bubble started. We knew that those responsible for accounting, the accounting firms, faced conflicts of interest in providing good and reliable information.

There are other instruments which he chose not to use — for instance, raising margin requirements, analogous to requiring a larger down payment on a house; if you require a larger down payment on a house, it can dampen a speculative real estate bubble. To ask other readers questions about The Roaring Ninetiesplease sign up. Enlightening explanation of the boom and bust of the s. Not only had capitalism triumphed over communism; the American version of capitalism, based on an image of hhe individualism, seemed to have triumphed over other, softer, fuzzier versions.

Our emerging understanding of the s requires that we admit – to ourselves and the world – that we were engaged in a misguided attempt to achieve growth on the cheap. For example, the IMF has often prescribed privatization of social security. Jospeh this make sense for us? This is a contentious issue in the U.

Oct 01, Ellen rated it really liked it. China and other developing countries have a comparative advantage in manufacturing. See 1 question about The Roaring Nineties…. Thus the bust that followed was a downturn not only for the US but for much of the world. But then, in,when the market soared way over what it had been in — if you believe there was a bubble inyou had to believe that there was a real bubble by, roarinng the Fed started talking up the bubble: As the bubble was going up and getting worse, what did we do?

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