Author: W. Attenborough File Type: pdf Churchills Black Dog is widely believed to have been an inborn tendency towards prolonged and despairing depression. In this, the first book-length study of all the available biographical evidence, some of which has never before been published, the truth emerges as significantly less grave than legend has it, but more psychologically complex.

Author: George A. Akerlof File Type: epub The global financial crisis has made it painfully clear that powerful psychological forces are imperiling the wealth of nations today. From blind faith in ever-rising housing prices to plummeting confidence in capital markets, animal spirits are driving financial events worldwide. In this book, acclaimed economists George Akerlof and Robert Shiller challenge the economic wisdom that got us into this mess, and put forward a bold new vision that will transform economics and restore prosperity.Akerlof and Shiller reassert the necessity of an active government role in economic policymaking by recovering the idea of animal spirits, a term John Maynard Keynes used to describe the gloom and despondence that led to the Great Depression and the changing psychology that accompanied recovery. Like Keynes, Akerlof and Shiller know that managing these animal spirits requires the steady hand of government--simply allowing markets to work wont do it. In rebuilding the case for a more robust, behaviorally informed Keynesianism, they detail the most pervasive effects of animal spirits in contemporary economic life--such as confidence, fear, bad faith, corruption, a concern for fairness, and the stories we tell ourselves about our economic fortunes--and show how Reaganomics, Thatcherism, and the rational expectations revolution failed to account for them.Animal Spirits offers a road map for reversing the financial misfortunes besetting us today. Read it and learn how leaders can channel animal spirits--the powerful forces of human psychology that are afoot in the world economy today. In a new preface, they describe why our economic troubles may linger for some time--unless we are prepared to take further, decisive action.**

Author: Kevin P. Gallagher File Type: pdf In Ruling Capital, Kevin P. Gallagher demonstrates how several emerging market and developing countries (EMDs) managed to reregulate cross-border financial flows in the wake of the global financial crisis, despite the political and economic difficulty of doing so at the national level. Gallagher also shows that some EMDs, particularly the BRICS coalition, were able to maintain or expand their sovereignty to regulate cross-border finance under global economic governance institutions. Gallagher combines econometric analysis with in-depth interviews with officials and interest groups in select emerging markets and policymakers at the International Monetary Fund, the World Trade Organization, and the G-20 to explain key characteristics of the global economy. Gallagher develops a theory of countervailing monetary power that shows how emerging markets can counter domestic and international opposition to the regulation of cross-border finance. Although many countries were able to exert countervailing monetary power in the wake of the crisis, such power was not sufficient to stem the magnitude of unstable financial flows that continue to plague the world economy. Drawing on this theory, Gallagher outlines the significant opportunities and obstacles to regulating cross-border finance in the twenty-first century. **Review Cross-border portfolio capital flows and their frequent instability have brought new challenges to emerging market countries seeking sustainable economic growth. In this volume, Gallagher (global studies, Boston Univ.) focuses on these dangerous financial flows and what can be done about them. The book is clear, concise, and authoritative, arguing that optimal not minimal intervention in cross-border portfolio capital flows has become an important policy goalhaving even penetrated the International Monetary Funds toolkit. (I. Walter Choice) Ruling Capital is a very good book that makes important contributions to the study of global finance. Kevin P. Gallaghers claims that the theory and practice of capital controls have been transformed are compelling and invite engagement. (Rawi Abdelal, Herbert F. Johnson Professor of International Management, Harvard Business School, author of National Purpose in the World Economy Post-Soviet States in Comparative Perspective) In Ruling Capital, Kevin P. Gallagher provides an insightful and powerful economic and political economy analysis of how the case for and practice of cross-border capital account management has strengthened since the global financial crisis. At the same time, he shows in a powerful way how this advance has been constrained by U.S. policy and by the proliferation of Free Trade Agreements and Bilateral Investment Treaties. Ruling Capital is essential reading for scholars and policymakers alike. (Jose Antonio Ocampo, Columbia University, former Finance Minister of Colombia and former United Nations Under-Secretary General for Economic and Social Affairs) Kevin P. Gallagher is a warrior for emerging markets. He has traced this history of capital flows and how emerging markets tried to change the game through capital account management. His concept of countervailing monetary power is key to understanding how a multipolar international financial system is developing, as emerging markets struggle to defend themselves against volatile capital flows. This is a warriors handbook on capital flows. (Andrew Sheng, Distinguished Fellow, Fung Global Institute) About the Author Kevin P. Gallagher is Associate Professor in the Frederick S. Pardee School of Global Studies and co-director of the Global Economic Governance Initiative at Boston University. He is the author of The Clash of Globalizations Essays on the Political Economy of Trade and Development Policy and Free Trade and the Environment Mexico, NAFTA, and Beyond and coauthor of The Dragon in the Room China and the Future of Latin American Industrialization and The Enclave Economy Foreign Investment and Sustainable Development in Mexicos Silicon Valley.

Author: John Wilson File Type: pdf