Hall of Mirrors

Description based upon print version of record.

Includes bibliographies and index.

Hall of Mirrors; Copyright; Contents; Introduction; Part I The Best of Times; 1 New Age Economics; 2 Golden Globe; 3 Competing on a Violent Scale; 4 By Legislation or Fiat; 5 Where Credit Is Due; 6 Castles in Spain; Part II The Worst of Times; 7 Spent Bullets; 8 The Next Leg Down; 9 On Europe's Shores; 10 Will America Topple Too?; 11 Largely Contained; 12 Scant Evidence; 13 The Spiral; 14 Fish or Foul; Part III Toward Better Times; 15 Revival or Reform; 16 Something for Everyone; 17 Takahashi's Revenge; 18 Dip Again; 19 Preventing the Worst; 20 Stressed and Stimulated

21 Unconventional PolicyPart IV Avoiding the Next Time; 22 Wall Street and Main Street; 23 Normalization in an Abnormal Economy; 24 Making Things as Difficult as Possible; 25 Men in Black; 26 Euro or Not; Conclusion; Dramatis Personae; Acknowledgments; Notes; References; Index

The two great financial crises of the past century are the Great Depression of the 1930s and the Great Recession, which began in 2008. Both occurred against the backdrop of sharp credit booms, dubious banking practices, and a fragile and unstable global financial system. When markets went into cardiac arrest in 2008, policymakers invoked the lessons of the Great Depression in attempting to avert the worst. While their response prevented a financial collapse and catastrophic depression like that of the 1930s, unemployment in the U.S. and Europe still rose to excruciating high levels. Pain and s.

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