rdf-syntax-grammar
mods:
  schema location: http://www.loc.gov/mods/v3 http://www.loc.gov/standards/mods/v3/mods-3-2.xsd
  title info:
    title: Wall Street's Assault on Democracy
    sub title: How Financial Markets Exacerbate Inequalities
  name:
    name part: Ugeux, Georges.
    role:
      role term: creator
    role:
      role term: author.
    role:
      role term: aut
    role:
      role term: http://id.loc.gov/vocabulary/relators/aut
  name:
    name part: SpringerLink (Online service)
  type of resource: text
  genre: Electronic books.
  origin info:
    place:
      place term: sz
    date issued: 2023
    edition: 1st ed. 2023.
    issuance: monographic
  language:
    language term: eng
  physical description:
    reformatting quality: access
    form: remote
    extent: 1 online resource (XXVI, 244 pages 54 illustrations, 53 illustrations in color.)
  abstract: "Without equality there can be no democracy." Eleanor Roosevelt, 1944 Bill Gates famously said at the World Economic Forum in 2008: We have to find a way to make the aspects of capitalism that serve wealthier people serve poorer people as well. This book is an attempt to make financial markets a critical element of this news and capitalism. On November 24, 2020, in the midst of the second phase of COVID lockdown, the Dow Jones Industrial Average surpassed 30,000 points for the first time ever-to the delight of Wall Street. It was an increase of more than 100% from the beginning of the pandemic. It would peak at 37,500 a year later. This historic increase was not only the result of economic or financial performance but also from a dollar injection of more than $ 10 trillion of liquidity by governments and central banks that would fuel a surge of inflation in 2022. While it was intended to avoid an economic collapse around the world, liquidity sought refuge in the equity market, making shareholders wealthier while the population was suffering. The purpose of this book is to examine how the international financial market can reform themselves to reduce their inequalities and threaten democracy. It is neither a populist nor a capitalist book. Its underlying philosophy is humanism: The economy must be at the service of the people and the communities, not the markets or shareholders. Inequalities became obscene. With global indebtedness exceeding $ 300 trillion in 2022, -of which one quarter issued by sovereign borrowers- financial stability is at risk. In order to rebalance these inequalities, it is the mindset that needs to change. Recent events have demonstrated that a set of reforms are needed to reduce inequalities and improve democracy. It is not a coincidence that, even within democracies, we see the dangerous emergence of elements of dictatorship and autocracy. The corporate world obtained a halving of the corporate tax rate; in the OECD, corporate tax income repr…
  note: by Georges Ugeux.
  subject:
    topic: Capital market
  subject:
    topic: Macroeconomics
  subject:
    topic: Finance
  subject:
    topic: Capital Markets
  subject:
    topic: Macroeconomics and Monetary Economics
  subject:
    topic: Financial Economics
  classification: HG4523
  classification: 332.0415
  related item:
    title info:
      title: Springer Nature eBook
  identifier: 9783031290947
  identifier: http://proxy.library.tamu.edu/login
  record info:
    record creation date: 231122
    record change date: 20240810175719.8
    record identifier: in00004819916