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- Product code: 22104
- ISBN: 1403968594,
ISBN13: 9781403968593,
256 pages, hardback
Published by Palgrave MacMillan on 2005
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Description of Greenspan's Fraud |
For two decades Alan Greenspan has held reign over the US Federal Reserve, outlasting three American presidents. His debilitatingly long tenure has had a profound effect on global economics and on individuals around the world. In this book, international bestselling author, Ravi Batra, takes sharp aim at Greenspan's policies since he came into power while revealing the underlying philosophies of the man called 'one of the most powerful men in the world' by the international press. 'Greenomics', Batra argues, is riddled with inconsistency that hints at political motive. Greenspan, whose mentor was Ayn Rand, is exposed as a protector of big business at the expense of the middle class. Batra proves that 'Greenomics' has also been responsible for periods of irrational exuberance, because of Greenspan's loose monetary policies. Since the mid 90's, his ultra-expansionist monetary policy has strictly benefited the rich. Batra credits Greenspan with unwittingly engineering a global crash, creating self serving policies, and creating policy based on false assumptions.
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Reviews"Here, finally, is the dark truth about Alan Greenspan. In this chilling exposé of one of the most powerful men of our time, Ravi Batra reveals Greenspan for who he secretly is: An ideologue who has waged war on the American Dream and imperilled the world economy. Greenspan's Fraud is a terrifying book."
- David Callahan, author of The Cheating Culture: Why More Americans Are Doing Wrong to Get Ahead
"Ravi Batra is one of the world's most controversial economists. Beneath the surface of his often contentious conclusions lies a deeper source of the
controversy. He does not accept one of the most fundamental fallacies of modern macroeconomic theory - the assumption that macroeconomic policy has no distribution effects. Many macroeconomic models contain only per capita variables, whether or not based upon the representative agent aradigm. Professor Batra turns this oversimplifying assumption upside down, by making the higher order moments of central importance. Whether or not we agree with his policy conclusions, we cannot and should not ignore him as a
counterweight to the profession's tendency to assume away the distribution effects of policy."
- William A. Barnett, Oswald Distinguished Professor of Macroeconomics, University of Kansas and Editor, Macroeconomic Dynamics
| Contents of Greenspan's Fraud |
The Two Faces of Alan Greenspan
Social Security Fraud
Greenomics: Free Profits Define Free Markets
Intellectual Fraud
Greenspan and the Globe
What Causes a Stock Market Bubble and Its Crash?
The Income Tax Rate and Our Living Standard
Does the Minimum Wage Create Unemployment?
Greenspan and the Galloping Trade Deficit
The Legacy of Greenomics
Economic Reform
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About Raveendra N. Batra |
RAVI BATRA is Professor of Economics at the Southern Methodist University, Dallas, USA, and is author of six international bestsellers two of which were New York Times bestsellers, including The Great Depression of 1990, and Surviving the Great Depression of 1990. He has appeared on CBS, NBC, CNN, ABC, CNBC and has been profiled in The New York Times, The Washington Post, Time, Newsweek and many more.
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