We specialize in hard to find items
All Categories
The End of Normal: The Great Crisis and the Future of Growth
Share Tweet
*Price and Stocks may change without prior notice
*Packaging of actual item may differ from photo shown
- Electrical items MAY be 110 volts.
- 7 Day Return Policy
- All products are genuine and original
About The End Of Normal: The Great Crisis And The Future
Product Description From one of the most respected economic thinkers and writers of our time, a brilliant argument about the history and future of economic growth. The years since the Great Crisis of 2008 have seen slow growth, high unemployment, falling home values, chronic deficits, a deepening disaster in Europe—and a stale argument between two false solutions, “austerity” on one side and “stimulus” on the other. Both sides and practically all analyses of the crisis so far take for granted that the economic growth from the early 1950s until 2000—interrupted only by the troubled 1970s—represented a normal performance. From this perspective, the crisis was an interruption, caused by bad policy or bad people, and full recovery is to be expected if the cause is corrected. The End of Normal challenges this view. Placing the crisis in perspective, Galbraith argues that the 1970s already ended the age of easy growth. The 1980s and 1990s saw only uneven growth, with rising inequality within and between countries. And the 2000s saw the end even of that—despite frantic efforts to keep growth going with tax cuts, war spending, and financial deregulation. When the crisis finally came, stimulus and automatic stabilization were able to place a floor under economic collapse. But they are not able to bring about a return to high growth and full employment. In The End of Normal, “Galbraith puts his pessimism into an engaging, plausible frame. His contentions deserve the attention of all economists and serious financial minds across the political spectrum” ( Publishers Weekly, starred review). Review "Galbraith puts his pessimism into an engaging, plausible frame. His contentions deserve the attention of all economists and serious financial minds across the political spectrum.", Publishers Weekly (starred) “Forceful prose and admittedly provocative suggestions.... Students of economics will enjoy the robust, fearless rebuke he delivers to some of the discipline’s giants.... A cleareyed…analysis of the new normal…for the 21st century.”, Kirkus "Galbraith's study marks another sharp and suggestive installment in the ongoing effort to determine how and why our economic and political leaders have lost their once-confident grasp of sound strategies to promote macroeconomic growth. And to restore a measure of that lost confidence Galbraith lays out a bold intellectual agenda.", Book Forum About the Author James K. Galbraith holds the Lloyd M. Bentsen Jr. Chair in Government/Business Relations at the Lyndon B. Johnson School of Public Affairs at the University of Texas at Austin. He lives in Austin, Texas. The End of Normal is his first book. Excerpt. © Reprinted by permission. All rights reserved. The End of Normal One Growth Now and Forever To begin to understand why the Great Financial Crisis broke over an astonished world, one needs to venture into the mentality of the guardians of expectation—the leadership of the academic economics profession—in the years before the crisis. Most of today’s leading economists received their formation from the late 1960s through the 1980s. But theirs is a mentality that goes back further: to the dawn of the postwar era and the Cold War in the United States, largely as seen from the cockpits of Cambridge, Massachusetts, and Chicago, Illinois. It was then, and from there, that the modern and still-dominant doctrines of American economics emerged. To put it most briefly, these doctrines introduced the concept of economic growth and succeeded, over several decades, to condition most Americans to the belief that growth was not only desirable but also normal, perpetual, and expected. Growth became the solution to most (if not quite all) of the ordinary economic problems, especially poverty and unemployment. We lived in a culture of growth; to question it was, well, countercultural. The role of government was to facilitate and promote growth, and perhaps to moderate the cycles that might, from tim
