Which Way Goes Capitalism? : : In Search of Adequate Policies in a Dramatically Changing World / / Daniel Daianu.

• Superior document: Title is part of eBook package: De Gruyter Central European University Press eBook-Package 2013-1998
• VerfasserIn: Daianu, Daniel,
• MitwirkendeR: Padoan, Pier Carlo,
• Place / Publishing House: Budapest ;, New York : : Central European University Press, , [2009]; ©2009
• Year of Publication: 2009
• Language: English
• Physical Description: 1 online resource (296 p.)

In this title, a well-known academic economist and former finance minister gives a lucid and well balanced overview of the current financial turbulences that have hit the developed economies. Strongly criticizing the excesses of neoliberal capitalism, Daianu calls for implementing necessary regulatory reforms in the financial sector and for restoration of a proper balance between the functions of the state and the market. Daianu goes back to some of the roots of the current crisis and the flaws or weaknesses of the global financial system. In doing so, he extensively discusses the monetary union of the Euro, and the critical question whether, how and when additional countries can and should join the club. This is a timely volume with a very strong and important warning.

Table of Contents

Frontmatter -- Table of Contents -- Foreword -- Acknowledgements -- Introduction. Return to Common Sense Is Needed -- Chapter 1. Institutional and Policy Diversity as an Engine of Economic Development -- Introduction -- I. What Influences Institutional and Policy Diversity? -- II. An Historical Perspective -- III. Examining the Record -- IV. Where Do We Stand? -- V. Transition Economies and Institutional and Policy Diversity -- VI. Concluding Remarks -- References -- Chapter 2. Ethical Lapses of Capitalism: How Serious They Are -- I. Introduction -- II. Ethics and Economy -- III. Understanding Micro and Macro Behaviours -- IV. Institutional Responses to Ethical Lapses -- V. Conclusion: Whither Capitalism? -- References -- Chapter 3. Why This Financial Crisis Is Occurring—How to Respond to It -- I. Introduction -- II. A Classification of Financial Crises -- III. The Current Crisis—What Has Triggered It and Its Implications -- IV. How to Respond to This Crisis -- V. Summing Up -- References -- Chapter 4. What This Financial Crisis Tells Us -- Introduction -- I. The Calculation Debate Revisited -- II. Is Only Greed to Be Blamed? -- III. What This Crisis Teaches Us -- IV. Limits of Openness -- References -- Chapter 5. A Strained European Model—Is Eastern Enlargement to Blame? -- I. Introduction -- II. The ESM and the Roots of Its Strain -- III. The Race for Competitiveness -- IV. Who Fears Globalisation? -- V. High Growth Rates Are Not Enough: The Case of Central Europe -- VI. The Future of the ESM -- References -- Chapter 6. The Monetary Union: The Decade Ahead. The Case of Non-Member States -- I. Introduction -- II. The First Decade of Monetary Union -- III. Old and New Challenges for the Monetary Union -- IV. Challenges for the New Member States -- V. Concluding Remarks -- References -- Chapter 7. The EU Budget Review: Managing Diversity for a Growing EU -- I. Introduction -- II. The History of the EU Budget: A Small Economic Instrument of Great Political Clout -- III. The European Union in the New Global Context: Challenges and Opportunities -- IV. Principles of the Reform -- V. Reviewing and Reforming the Budget: Concrete Measures to Take -- VI. Implementation of New Provisions -- VII. Concluding Remarks -- References -- Chapter 8. A Clash of Capitalisms -- Introduction -- I. Public Policy in Today’s World: A Plea for Open- Mindedness and Pragmatism -- II. Which Globalisation? -- III. The EU at “Midlife”: Cause for Celebration, but with Guarded Optimism -- IV. Capitalism vs. Capitalism in the 21st century -- V. Final Remarks -- References -- Epilogue. Keynes Is Back -- Appendix 1. European Parliament Resolution of 9 October 2008 with Recommendations to the Commission on Lamfalussy Follow-Up: Future Structure of Supervision (2008/2148(INI) -- Appendix 2. Financial Markets Cannot Govern Us -- Appendix 3. The Recurrence of Financial Crises in Economic History -- Appendix 4. Three-Month Inter-bank Spread Rates Over the Base Rate -- Index