{"title":"The Debate over the Origin of the Great Recession in the United States","authors":"Mario Rojas Miranda","doi":"10.20999/nam.2017.a003","DOIUrl":null,"url":null,"abstract":"<div><p>This article analyzes the debate over the origins of the Great Recession in the United States. The author analyzes three perspectives: the first is the position spearheaded by John B. Taylor, who proposes the Great Deviation. The second is that of Alan Greenspan, Donald L. Khon, Ben S. Bernanke, Frederic S. Mishkin, and Lars E. O. Svensson, who attribute the crisis to a global imbalance between savings and investment. The third is the point of view of Robert Hetzel, Anna Schwartz, and Alan Meltzer, well-known inheritors of the monetarist tradition, who all accuse the authorities of having provoked the crisis and implemented the wrong responses. In conclusion, the author presents the opinion of two Nobel Prize winners in economics, Paul Krugman and Joseph Stiglitz.</p></div>","PeriodicalId":37648,"journal":{"name":"Norteamerica","volume":"12 1","pages":"Pages 79-103"},"PeriodicalIF":0.0000,"publicationDate":"2017-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.20999/nam.2017.a003","citationCount":"3","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Norteamerica","FirstCategoryId":"1085","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S187035501830020X","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"Social Sciences","Score":null,"Total":0}
引用次数: 3
Abstract
This article analyzes the debate over the origins of the Great Recession in the United States. The author analyzes three perspectives: the first is the position spearheaded by John B. Taylor, who proposes the Great Deviation. The second is that of Alan Greenspan, Donald L. Khon, Ben S. Bernanke, Frederic S. Mishkin, and Lars E. O. Svensson, who attribute the crisis to a global imbalance between savings and investment. The third is the point of view of Robert Hetzel, Anna Schwartz, and Alan Meltzer, well-known inheritors of the monetarist tradition, who all accuse the authorities of having provoked the crisis and implemented the wrong responses. In conclusion, the author presents the opinion of two Nobel Prize winners in economics, Paul Krugman and Joseph Stiglitz.
期刊介绍：
Editorial Policies Focus and Scope Section Policies Peer Review Process Open Access Policy Archiving General Criteria Ethical Guidelines Directory Indexing Editorial Bodies Editorial Board International Advisory Board Focus and Scope Norteamérica is a semiannual peer-reviewed journal regarding multi and interdisciplinary academic studies about the North America region (Mexico, United States and Canada) which consider the region itself as an object of study, along with its evolution, its individual processes and internal dynamics. An analysis of the reality of each of the three nations is thematically linked with the rest of the region. 1.- Norteamérica will publish exclusively multi- and interdisciplinary academic studies focused on the North American region (Mexico, the United States and Canada) that: a) address the region as an object of analysis: specifically, its evolution, particular processes, and internal dynamics; b) analyze the reality in each of the three nations, linking them thematically with the rest of the region; c) carry out comparative studies of the nations of North America; d) address the region and its insertion in the international context; and e) expand upon international processes and their impact within the region. 2.- Through these research perspectives, the journal will disseminate articles addressing a wide variety of general and specific issues: a) politics, economics, society and culture; b) foreign policy, trade, political systems, security, comparative politics, political philosophy and history; and c) migration, electoral processes, borders, science and technology, minorities, the environment and natural resources, education, human rights, gender, and others.
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