Inequality and instability a study of the world economy just before the Great Crisis Galbraith, James K. creator text bibliography Electronic books. nyu New York, NY Oxford University Press ©2012 2012 1st ed. monographic eng remote 1 online resource (xiv, 324 pages) : illustrations As Wall Street rose to dominate the U.S. economy, income and pay inequalities in America came to dance to the tune of the credit cycle. As the reach of financial markets extended across the globe, interest rates, debt, and debt crises became the dominant forces driving the rise of economic inequality almost everywhere. Thus the "super-bubble" that investor George Soros identified in rich countries for the two decades after 1980 was a super-crisis for the 99 percent--not just in the U.S. but the entire world. This book demonstrates that finance is the driveshaft that links inequality to economic instability. The book challenges those, mainly on the right, who see mysterious forces of technology behind rising inequality. And it also challenges those, mainly on the left, who have placed the blame narrowly on trade and outsourcing. Inequality and Instability presents straightforward evidence that the rise of inequality mirrors the stock market in the U.S. and the rise of finance and of free-market policies elsewhere. Starting from the premise that fresh argument requires fresh evidence, this book brings new data to bear, presenting information built up over fifteen years in easily understood charts and tables. By measuring inequality at the right geographic scale, the book shows that more equal societies systematically enjoy lower unemployment. It shows how this plays out inside Europe, between Europe and the United States, and in modern China. It explains that the dramatic rise of inequality in the U.S. in the 1990s reflected a finance-driven technology boom that concentrated incomes in just five counties, very remote from the experience of most Americans--which helps explain why the political reaction was so slow to come. That the reaction is occurring now, however, is beyond doubt. In the aftermath of the Great Financial Crisis, inequality has become, in America and the world over, the central issue. The physics and ethics of inequality -- The need for new inequality measures -- Pay inequality and world development -- Estimating the inequality of household incomes -- Economic inequality and political regimes -- The geography of inequality in America, 1969 to 2007 -- State-level income inequality and American elections -- Inequality and unemployment in Europe : a question of levels -- European wages and the flexibility thesis -- Globalization and inequality in China -- Finance and power in Argentina and Brazil -- Inequality in Cuba after the Soviet collapse -- Economic inequality and the world crisis. James K. Galbraith. Includes bibliographical references and index. Income distribution Economic policy Globalization Social aspects Power (Social sciences) Economic development Research Global Financial Crisis, 2008-2009 Revenu Répartition Politique économique Mondialisation Aspect social Pouvoir (Sciences sociales) Développement économique Recherche Crise financière mondiale, 2008-2009 BUSINESS & ECONOMICS Economics Macroeconomics POLITICAL SCIENCE Economic Conditions Economic development Research Economic policy Globalization Social aspects Income distribution Power (Social sciences) Global Financial Crisis (2008-2009) fast https://id.oclc.org/worldcat/entity/E39Qhp4vBbr3T8xBMDbJhDhGmm 2008-2009 fast HC79.I5 .G35 2012eb 339.2 Inequality and instability Galbraith, James K. New York, NY : Oxford University Press, 2012 1st ed. (DLC) 2011026835 (OCoLC)734002425 9780199855667 0199855668 1280594047 9781280594045 9786613623874 6613623873 9780190261375 0190261374 9780199855650 019985565X 2011026835 362387 MIL http://proxy.library.tamu.edu/login?url=https://academic.oup.com/book/11824 N$T 120319 20260318190122.8 in00005707718 eng