Literaturnachweis - Detailanzeige
Autor/inn/en | Gwartney, James D.; Connors, Joseph |
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Titel | The Crash of 2008: Causes and Lessons to Be Learned |
Quelle | In: Social Education, 73 (2009) 2, S.63-67 (5 Seiten)Infoseite zur Zeitschrift
PDF als Volltext |
Sprache | englisch |
Dokumenttyp | gedruckt; online; Zeitschriftenaufsatz |
ISSN | 0037-7724 |
Schlagwörter | Current Events; Housing; Real Estate; Loan Default; Banking; Failure; Unemployment; Money Management; Risk Management; Economic Factors; Debt (Financial); Public Policy; Incentives |
Abstract | The headlines of 2008 were dominated by falling housing prices, rising default and foreclosure rates, failure of large investment banks, and huge bailouts arranged by both the Federal Reserve and the U.S. Treasury. The wealth of many Americans has been substantially reduced and concern about a lengthy and severe recession is now widespread. All of this turmoil has come on the heels of more than 20 years of solid growth and unprecedented economic stability. What caused this crisis? In this article, the authors takes a look at four factors that underlie the rise and fall of housing prices and the conditions that eventually culminated with the crisis of 2008. These factors are: (1) Declining lending standards; (2) Federal reserve interest rate policies; (3) Excessive leverage; and (4) Increased household debt. The authors also discuss the lessons to be learned from the current crisis. (Contains 2 figures and 2 notes.) (ERIC). |
Anmerkungen | National Council for the Social Studies. 8555 Sixteenth Street #500, Silver Spring, MD 20910. Tel: 800-683-0812; Tel: 301-588-1800; Fax: 301-588-2049; e-mail: membership@ncss.org; Web site: http://www.socialstudies.org |
Erfasst von | ERIC (Education Resources Information Center), Washington, DC |
Update | 2017/4/10 |