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The longest, most severe recession since the Great Depression is chronicled by an authority on American business cycles in this compelling and engaging book. Author Howard J. Sherman explores the root causes of the boom and bust cycle, which he argues, causes the courses of the economy to closely resemble that of a roller coaster. He focuses on explaining why the economic downturn of 2007 became so severe as to become the Great Recession of 2007 to 2009. He makes a powerful argument that recessions and the resulting painful involuntary unemployment are part of capitalism itself. He clearly illustrates the mechanisms of business cycles, such as a "public option" for full employment.
Advance Praise
"This is an important book that should be read by everyone concerned about our unstable economy. It is hard hitting and clear, provocative and compelling and it is written by one of the world`s premier teacher-scientists. ---------William M. Dugger, The University of Tulsa
"Over 2008-09, high-Vottage casino capitalism in the United States produced financial collapse, severe recession, and the deepest unemployment crisis since the 1930s, why did this happen and what can we do about it? Professor Howard Sherman has long been recongnized as a formidable analyst of capitalism`s book and bust cycles. The Roller Coaster Economy builds insightfully from Sherman`s lifetime of work to explain the crisis and to develop constructive `public options` for creating a democratic economy as we regroup amid the current rubble. Sherman`s writing is also lively and accessible to anyone who wants to understand-and do something to change-today`s economic reality."--------Robert Pollin, Professor of Economics and Co-Director
Political Economy Research Institute, University of Massachusetts
ISBN 9788184050684
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