{"product_id":"decline-and-fall-of-the-u-s-economy","title":"Decline and Fall of the U.S. Economy","description":"This highly original book puts the crash of 2008 into a broad perspective by digging deeply into the misguided theories behind the policies that allowed it to happen.\nWho was responsible for the 2008 crash? \u003ci\u003eThe Decline and Fall of the U.S. Economy: How Liberals and Conservatives Both Got It Wrong\u003c\/i\u003e makes it clear that both parties were at faul—and explains how and why. This broad and far-reaching book is the first to analyze the crash from the perspective of evolution, or \"punctuated equilibrium.\" As it explains, the punctuated boom brings on change, the bust leads back to a tightly constrained equilibrium. Both conditions pose risks and both—as William McDonald Wallace argues—can be managed to reduce the odds that economic imbalances will arise.\n\nFocusing on the policies that created bubbles in housing, stocks, and more, Wallace pinpoints historical events that gave rise to unrealistic theories and ideologies, showing how they, in turn, gave rise to policies that led to collapse. He explains how Darwin's now-discredited theory of \"uniformitarianism\" (evolution as a continuous, smooth process) led economists to ignore how evolution actually influences economies and economic behavior, and he shows what we can do so it doesn't happen again.","brand":"Bloomsbury Publishing Plc","offers":[{"title":"Default Product","offer_id":54220270109016,"sku":"9780313383793","price":70.99,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0278\/1295\/4195\/files\/9780313383793__67c1f0510a824_09d51c43-da8b-4d7f-826b-07a2796255e4.jpg?v=1741158503","url":"https:\/\/agendabookshop.com\/products\/decline-and-fall-of-the-u-s-economy","provider":"Agenda Bookshop","version":"1.0","type":"link"}