Greenspan's Fraud: How Two Decades of His Policies Have Undermined the Global Economy - Hardcover

Batra, Dr. Ravi

Hardcover

ISBN 10: 1403968594 ISBN 13: 9781403968593

Publisher: St Martin's Press, 2005

Synopsis

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.

About this title

Review

'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

Praise for Ravi Batra's Other Books:

'Dr. Batra writes about his subject as clearly as if he were telling bedtime stories.' - Christopher Lehmann-Haupt, New York Times

'Batra has set the standard for economic analysis...Think about it. Before Batra, who ever heard of phrases like 'jobless recovery,' 'contained depression,' and 'deflationary boom.'' - John Liscio, Barron's

'When it comes to the bottom line so beloved of economists, one can learn a lot about events by thinking about them in cyclical regularities, of which Batra gives a novel and brilliant exposition.' - Lester C. Thurow, Professor, MIT

'Batra [is] a scholar who has earned a considerable reputation as an expert on trade.' - Albert Crenshaw, Washington Post

'Ravi Batra has made an outstanding reputation in the United States as an international economic theorist in the best Western tradition.' - Leonard Silk, New York Times

'Batra's 10-point blacklist makes interesting reading.' - Timon Day, Shares

About the Author

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.

About this edition

• Publisher: St Martin's Press
• Publication date: 2005
• ISBN 10: 1403968594
• ISBN 13: 9781403968593
• Binding: Hardcover
• Number of pages: 288