How we got here -- The Clinton era and the origins of the stock bubble -- The collapse of the stock bubble -- The beginnings of the housing bubble -- The final collapse -- Beyond the bubble economy -- Learning from the bubbles
Summary
Plunder and Blunder chronicles the growth and collapse of the stock and housing bubbles, explains how policy changes since 1980 laid the groundwork for catastrophic?but completely predictable?market meltdowns, and offers prescriptions for avoiding these disasters in the future. Dean Baker argues not only that competent economists should have recognized the developing housing bubble, but also that policy makers and the media cheerfully neglected those economists who did predict danger. Baker doesn?t engage in 20-20 hindsight, but thoroughly documents how fundamental policy shifts destabilized the economy and eroded the broad prosperity of the post-war period. His expert analysis explains the outcomes clearly so we can prevent similar financial disasters. Dean Baker warned us what was coming. Now we can read why Dean got it right when so many experts were blind. The story is intriguing?and deeply disturbing.?William Greider, national affairs correspondent, The Nation, and author of Come Home, America
