Income Inequality: Why It Matters and Why Most Economists Didn't Notice by Matth

The Nile on eBay   Income Inequality by Matthew P. Drennan

The first book-length treatment to conclusively demonstrate the link between income inequality and the 2008 financial crisis and Great Recession

FORMATHardcover LANGUAGEEnglish CONDITIONBrand New Publisher Description

The first book-length treatment to conclusively demonstrate the link between income inequality and the 2008 financial crisis and Great RecessionPrevailing economic theory attributes the 2008 crash and the Great Recession that followed to low interest rates, relaxed borrowing standards, and the housing price bubble. After careful analyses of statistical evidence, however, Matthew Drennan discovered that income inequality was the decisive factor behind the crisis. Pressured to keep up consumption in the face of flat or declining incomes, Americans leveraged their home equity to take on excessive debt. The collapse of the housing market left this debt unsupported, causing a domino effect throughout the economy. Drennan also found startling similarities in consumer behavior in the years leading to both the Great Depression and the Great Recession. Offering an economic explanation of a phenomenon described by prominent observers including Thomas Piketty, Jacob Hacker, Robert Kuttner, Paul Krugman, and Joseph Stiglitz, Drennan's evenhanded analysis disproves dominant theories of consumption and draws much-needed attention to the persisting problem of income inequality. 

Author Biography

Matthew P. Drennan is a visiting professor of urban planning at UCLA and an emeritus professor in the Department of City and Regional Planning at Cornell University. He lives in Los Angeles, CA.

Review

"Matthew Drennan has written a timely, succinct, and highly readable work on the dynamics of inequality--and why most economists miss what's driving it. An essential book for understanding the great challenge of our age."—Robert Kuttner, co-editor, The American Prospect -- Robert Kuttner

Review Quote

"Matthew Drennan has written a timely, succinct, and highly readable work on the dynamics of inequality--and why most economists miss what's driving it. An essential book for understanding the great challenge of our age."--Robert Kuttner, co-editor, The American Prospect

Details ISBN0300209584 Author Matthew P. Drennan Short Title INCOME INEQUALITY Publisher Yale University Press Language English ISBN-10 0300209584 ISBN-13 9780300209587 Media Book Format Hardcover Birth 1937 Imprint Yale University Press Place of Publication New Haven Country of Publication United States DEWEY 339.22 Pages 168 AU Release Date 2015-11-24 NZ Release Date 2015-11-24 US Release Date 2015-11-24 Year 2015 Publication Date 2015-11-24 UK Release Date 2015-11-24 Subtitle Why It Matters and Why Most Economists Didn't Notice Illustrations 13 b-w illus. Audience Professional & Vocational We've got this

At The Nile, if you're looking for it, we've got it.With fast shipping, low prices, friendly service and well over a million items - you're bound to find what you want, at a price you'll love!

TheNile_Item_ID:96426617;