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Podcast: New Books in Economics
Episode: The Bubble Economy: Is Sustainable Growth Possible?
Description: The global economy has become increasingly, perhaps chronically, unstable. Since 2008, we have heard about the housing bubble, subprime mortgages, banks âtoo big to fail,â financial regulation (or the lack of it), and the European debt crisis. Wall Street has discovered that it is more profitable to make money from other people's money than by investing in the real economy, which has limited access to capitalâresulting in slow growth and rising inequality. What we haven't heard much about is the role of natural resourcesâenergy in particularâas drivers of economic growth, or the connection of âglobal warmingâ to the economic c...