Fault Lines
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Fault Lines
Author: Raghuram G. Rajan
language: en
Publisher: Princeton University Press
Release Date: 2011-08-08
From an economist who warned of the global financial crisis, a new warning about the continuing peril to the world economy Raghuram Rajan was one of the few economists who warned of the global financial crisis before it hit. Now, as the world struggles to recover, it's tempting to blame what happened on just a few greedy bankers who took irrational risks and left the rest of us to foot the bill. In Fault Lines, Rajan argues that serious flaws in the economy are also to blame, and warns that a potentially more devastating crisis awaits us if they aren't fixed. Rajan shows how the individual choices that collectively brought about the economic meltdown—made by bankers, government officials, and ordinary homeowners—were rational responses to a flawed global financial order in which the incentives to take on risk are incredibly out of step with the dangers those risks pose. He traces the deepening fault lines in a world overly dependent on the indebted American consumer to power global economic growth and stave off global downturns. He exposes a system where America's growing inequality and thin social safety net create tremendous political pressure to encourage easy credit and keep job creation robust, no matter what the consequences to the economy's long-term health; and where the U.S. financial sector, with its skewed incentives, is the critical but unstable link between an overstimulated America and an underconsuming world. In Fault Lines, Rajan demonstrates how unequal access to education and health care in the United States puts us all in deeper financial peril, even as the economic choices of countries like Germany, Japan, and China place an undue burden on America to get its policies right. He outlines the hard choices we need to make to ensure a more stable world economy and restore lasting prosperity.
Fault Lines
Earth's fractured geology is visible in its fault lines. It is along these lines that earthquakes occur, sometimes with disastrous effects. These disturbances can significantly influence urban development, as seen in the aftermath of two earthquakes in Messina, Italy, in 1908 and in the Belice Valley, Sicily, in 1968. Following the history of these places before and after their destruction, this book explores plans and developments that preceded the disasters and the urbanism that emerged from the ruins. These stories explore fault lines between "rural" and "urban," "backwardness" and "development," and "before" and "after," shedding light on the role of environmental forces in the history of human habitats.
Fault Lines
Author: Beverly Bell
language: en
Publisher: Cornell University Press
Release Date: 2013-05-17
Beverly Bell, an activist and award-winning writer, has dedicated her life to working for democracy, women's rights, and economic justice in Haiti and elsewhere. Since the 7.0 magnitude earthquake of January 12, 2010, that struck the island nation, killing more than a quarter-million people and leaving another two million Haitians homeless, Bell has spent much of her time in Haiti. Her new book, Fault Lines, is a searing account of the first year after the earthquake. Bell explores how strong communities and an age-old gift culture have helped Haitians survive in the wake of an unimaginable disaster, one that only compounded the preexisting social and economic distress of their society. The book examines the history that caused such astronomical destruction. It also draws in theories of resistance and social movements to scrutinize grassroots organizing for a more just and equitable country. Fault Lines offers rich perspectives rarely seen outside Haiti. Readers accompany the author through displaced persons camps, shantytowns, and rural villages, where they get a view that defies the stereotype of Haiti as a lost nation of victims. Street journals impart the author's intimate knowledge of the country, which spans thirty-five years. Fault Lines also combines excerpts of more than one hundred interviews with Haitians, historical and political analysis, and investigative journalism. Fault Lines includes twelve photos from the year following the 2010 earthquake. Bell also investigates and critiques U.S. foreign policy, emergency aid, standard development approaches, the role of nongovernmental organizations, and disaster capitalism. Woven through the text are comparisons to the crisis and cultural resistance in Bell's home city of New Orleans, when the levees broke in the wake of Hurricane Katrina. Ultimately a tale of hope, Fault Lines will give readers a new understanding of daily life, structural challenges, and collective dreams in one of the world's most complex countries.