Money Well Spent?

Money Well Spent?

Author: Michael Grabell

Publisher: PublicAffairs

Published: 2012-01-31

Total Pages: 414

ISBN-13: 1610390105

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The 2012 presidential campaign will, above all else, be a referendum on the Obama administration's handling of the financial crisis, recalling the period when Obama's "audacity of hope" met the austerity of reality. Central to this is the ''American Recovery and Reinvestment Act of 2009'' -- the largest economic recovery plan in American history. Senator Mitch McConnell gave a taste of the enormity of the money committed: if you had spent 1 million a day since Jesus was born, it still would not add up to the price tag of the stimulus package. A nearly entirely partisan piece of legislation -- Democrats voted for it, Republicans against -- the story of how the bill was passed and, more importantly, how the money was spent and to what effect, is known barely at all. Stepping outside the political fray, ProPublica's Michael Grabell offers a perceptive, balanced, and dramatic story of what happened to the tax payers' money, pursuing the big question through behind-the-scenes interviews and on-the-ground reporting in more than a dozen states across the country.


The Great Depression

The Great Depression

Author: Robert S. McElvaine

Publisher: Crown

Published: 2010-10-27

Total Pages: 432

ISBN-13: 0307774449

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One of the classic studies of the Great Depression, featuring a new introduction by the author with insights into the economic crises of 1929 and today. In the twenty-five years since its publication, critics and scholars have praised historian Robert McElvaine’s sweeping and authoritative history of the Great Depression as one of the best and most readable studies of the era. Combining clear-eyed insight into the machinations of politicians and economists who struggled to revive the battered economy, personal stories from the average people who were hardest hit by an economic crisis beyond their control, and an evocative depiction of the popular culture of the decade, McElvaine paints an epic picture of an America brought to its knees—but also brought together by people’s widely shared plight. In a new introduction, McElvaine draws striking parallels between the roots of the Great Depression and the economic meltdown that followed in the wake of the credit crisis of 2008. He also examines the resurgence of anti-regulation free market ideology, beginning in the Reagan era, and argues that some economists and politicians revised history and ignored the lessons of the Depression era.


Fiscal Policy after the Financial Crisis

Fiscal Policy after the Financial Crisis

Author: Alberto Alesina

Publisher: University of Chicago Press

Published: 2013-06-25

Total Pages: 596

ISBN-13: 022601844X

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The recent recession has brought fiscal policy back to the forefront, with economists and policy makers struggling to reach a consensus on highly political issues like tax rates and government spending. At the heart of the debate are fiscal multipliers, whose size and sensitivity determine the power of such policies to influence economic growth. Fiscal Policy after the Financial Crisis focuses on the effects of fiscal stimuli and increased government spending, with contributions that consider the measurement of the multiplier effect and its size. In the face of uncertainty over the sustainability of recent economic policies, further contributions to this volume discuss the merits of alternate means of debt reduction through decreased government spending or increased taxes. A final section examines how the short-term political forces driving fiscal policy might be balanced with aspects of the long-term planning governing monetary policy. A direct intervention in timely debates, Fiscal Policy after the Financial Crisis offers invaluable insights about various responses to the recent financial crisis.


Counting the Cost of COVID-19 on the Global Tourism Industry

Counting the Cost of COVID-19 on the Global Tourism Industry

Author: Godwell Nhamo

Publisher: Springer Nature

Published: 2020-09-19

Total Pages: 421

ISBN-13: 303056231X

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This book profiles preliminary findings on the impact of COVID-19 on the travel, tourism and hospitality sector. Starting with a narrative relating COVID-19 to the global development agendas, the book proceeds with a focus on global tourism value chains and linkages between COVID-19 and the Sustainable Development Goals (SDGs). Other perspectives addressed in separate chapters include impacts of COVID-19 on various industries within the global tourism value chain including aviation, airports, cruise ships, car rentals as well as ride and share car services, hotels, restaurants, sporting, pilgrimage and religious tourism, gaming and entertainment, and the stock market. The book also includes chapters on corporate, philanthropic and public donations, as well as tourism economic stimulus packages. It then concludes with a chapter focusing on building back a better tourism sector post-COVID-19 that strongly draws from the Sendai Framework on Disaster Risk Reduction (2015-2030) and the disaster cycle. To this end, this book is suitable as a read for several professionals in disciplines such as tourism and hospitality studies, economics, sustainable development, development studies, environmental sciences, geography, politics, planning and public health.


How the Financial Crisis and Great Recession Affected Higher Education

How the Financial Crisis and Great Recession Affected Higher Education

Author: Jeffrey R. Brown

Publisher: University of Chicago Press

Published: 2015-01-08

Total Pages: 343

ISBN-13: 022620183X

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The recent financial crisis had a profound effect on both public and private universities. Universities responded to these stresses in different ways. This volume presents new evidence on the nature of these responses and how the incentives and constraints facing different institutions affected their behavior.


The Riches of This Land

The Riches of This Land

Author: Jim Tankersley

Publisher: PublicAffairs

Published: 2020-08-11

Total Pages: 296

ISBN-13: 1541767845

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A vivid character-driven narrative, fused with important new economic and political reporting and research, that busts the myths about middle class decline and points the way to its revival. For over a decade, Jim Tankersley has been on a journey to understand what the hell happened to the world's greatest middle-class success story -- the post-World-War-II boom that faded into decades of stagnation and frustration for American workers. In The Riches of This Land, Tankersley fuses the story of forgotten Americans-- struggling women and men who he met on his journey into the travails of the middle class-- with important new economic and political research, providing fresh understanding how to create a more widespread prosperity. He begins by unraveling the real mystery of the American economy since the 1970s - not where did the jobs go, but why haven't new and better ones been created to replace them. His analysis begins with the revelation that women and minorities played a far more crucial role in building the post-war middle class than today's politicians typically acknowledge, and policies that have done nothing to address the structural shifts of the American economy have enabled a privileged few to capture nearly all the benefits of America's growing prosperity. Meanwhile, the "angry white men of Ohio" have been sold by Trump and his ilk a theory of the economy that is dangerously backward, one that pits them against immigrants, minorities, and women who should be their allies. At the culmination of his journey, Tankersley lays out specific policy prescriptions and social undertakings that can begin moving the needle in the effort to make new and better jobs appear. By fostering an economy that opens new pathways for all workers to reach their full potential -- men and women, immigrant or native-born, regardless of race -- America can once again restore the upward flow of talent that can power growth and prosperity.


The New New Deal

The New New Deal

Author: Michael Grunwald

Publisher: Simon and Schuster

Published: 2012-08-14

Total Pages: 545

ISBN-13: 1451642342

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In a riveting account based on new documents and interviews with more than 400 sources on both sides of the aisle, award-winning reporter Michael Grunwald reveals the vivid story behind President Obama’s $800 billion stimulus bill, one of the most important and least understood pieces of legislation in the history of the country. Grunwald’s meticulous reporting shows how the stimulus, though reviled on the right and the left, helped prevent a depression while jump-starting the president’s agenda for lasting change. As ambitious and far-reaching as FDR’s New Deal, the Recovery Act is a down payment on the nation’s economic and environmental future, the purest distillation of change in the Obama era. The stimulus has launched a transition to a clean-energy economy, doubled our renewable power, and financed unprecedented investments in energy efficiency, a smarter grid, electric cars, advanced biofuels, and green manufacturing. It is computerizing America’s pen-and-paper medical system. Its Race to the Top is the boldest education reform in U.S. history. It has put in place the biggest middle-class tax cuts in a generation, the largest research investments ever, and the most extensive infrastructure investments since Eisenhower’s interstate highway system. It includes the largest expansion of antipoverty programs since the Great Society, lifting millions of Americans above the poverty line, reducing homelessness, and modernizing unemployment insurance. Like the first New Deal, Obama’s stimulus has created legacies that last: the world’s largest wind and solar projects, a new battery industry, a fledgling high-speed rail network, and the world’s highest-speed Internet network. Michael Grunwald goes behind the scenes—sitting in on cabinet meetings, as well as recounting the secret strategy sessions where Republicans devised their resistance to Obama—to show how the stimulus was born, how it fueled a resurgence on the right, and how it is changing America. The New New Deal shatters the conventional Washington narrative and it will redefine the way Obama’s first term is perceived.


Governing Under Stress

Governing Under Stress

Author: Timothy J. Conlan

Publisher: Georgetown University Press

Published: 2017

Total Pages: 271

ISBN-13: 1626163707

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The underappreciated but surprisingly successful implementation of the American Recovery and Reinvestment Act (ARRA) helped rescue the economy during the Great Recession and represented one of the most important achievements of the Obama presidency. It tested all levels of government with urgent time frames and extensive accountability requirements. While ARRA passed most tests with comparatively little mismanagement or fraud, negative public and media perceptions of the initiative deprived the president of political credit. Drawing on more than two hundred interviews and nationwide field research, Governing under Stress examines a range of ARRA stimulus programs to analyze the fraught politics, complex implementation, and impact of the legislation. Essays from public administration scholars use ARRA to study how to implement large federal programs in our modern era of indirect, networked governance. Throughout, the contributors present potent insights into the most pressing challenges facing public policy and management, and they uncover important lessons about policy instruments and networks, the effects of transparency and accountability, and the successes and failures of different types of government intervention.


Broken Bargain

Broken Bargain

Author: Kathleen Day

Publisher: Yale University Press

Published: 2019-01-01

Total Pages: 441

ISBN-13: 0300223323

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A history of major financial crises--and how taxpayers have been left with the bill In the 1930s, battered and humbled by the Great Depression, the U.S. financial sector struck a grand bargain with the federal government. Bankers gained a safety net in exchange for certain curbs on their freedom: transparency rules, record-keeping and antifraud measures, and fiduciary responsibilities. Despite subsequent periodic changes in these regulations, the underlying bargain played a major role in preserving the stability of the financial markets as well as the larger economy. By the free-market era of the 1980s and 90s, however, Wall Street argued that rules embodied in New Deal-era regulations to protect consumers and ultimately taxpayers were no longer needed--and government agreed. This engaging history documents the country's financial crises, focusing on those of the 1920s, the 1980s, and the 2000s, and reveals how the two more recent crises arose from the neglect of this fundamental bargain, and how taxpayers have been left with the bill.