{"title":"Hans Werner Sinn","description":null,"products":[{"product_id":"euro-trap-book-hans-werner-sinn-9780198702139","title":"The Euro Trap","description":"This book offers a critical assessment of the history of the euro, its crisis, and the rescue measures taken by the European Central Bank and the community of states. The euro induced huge capital flows from the northern to the southern countries of the Eurozone that triggered an inflationary credit bubble in the latter, deprived them of their competitiveness, and made them vulnerable to the financial crisis that spilled over from the US in 2007 and 2008. As private capital shied away from the southern countries, the ECB helped out by providing credit from the local money-printing presses. The ECB became heavily exposed to investment risks in the process, and subsequently had to be bailed out by intergovernmental rescue operations that provided replacement credit for the ECB credit, which itself had replaced the dwindling private credit. The interventions stretched the legal strictures stipulated by the Maastricht Treaty which, in the absence of a European federal state, had granted the ECB a very limited mandate. These interventions created a path dependency that effectively made parliaments vicarious agents of the ECB's Governing Council.   This book describes what the author considers to be a dangerous political process that undermines both the market economy and democracy, without solving southern Europe's competitiveness problem. It argues that the Eurozone has to rethink its rules of conduct by limiting the role of the ECB, exiting the regime of soft budget constraints and writing off public and bank debt to help the crisis countries breathe again. At the same time, the Eurosystem should become more flexible by offering its members the option of exiting and re-entering the euro - something between the dollar and the Bretton Woods system - until it eventually turns into a federation with a strong political power centre and a uniform currency like the dollar.","brand":"WoB","offers":[{"title":"US \/ VERY_GOOD \/ SBYB","offer_id":50346415259921,"sku":"CIN0198702132VG","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"US \/ GOOD \/ SBYB","offer_id":50346430267665,"sku":"CIN0198702132G","price":0.0,"currency_code":"GBP","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/0198702132.jpg?v=1776939507"},{"product_id":"new-systems-competition-book-hans-werner-sinn-9780631219514","title":"The New Systems Competition","description":"Competition between companies tends to be beneficial for the general public, but is this also true for competition between States in a world with global financial markets, low transport costs, and increasing migration? In this book, Sinn provides a solid economic analysis of the competitive forces at work and addresses how we should organize competition between systems so they will enhance the efficiency of these systems, as opposed to acting destructively on them.    Provides a thorough economic analysis of the competitive forces at work between nations and governments. Analyzes a wide range of state activities, including taxation, public goods provision, income redistribution, environmental policy, safety standards, and competition policy. Addresses ways to organize competition so it will enhance the efficiency of these systems.","brand":"WoB","offers":[{"title":"- \/ - \/ -","offer_id":51137467941137,"sku":"","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"US \/ NEW \/ INGRAM","offer_id":51137470890257,"sku":"NIN9780631219514","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"GB \/ NEW \/ INGRAM","offer_id":52584274460945,"sku":"NLS9780631219514","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/063121951X.jpg?v=1777543366"},{"product_id":"euro-trap-book-hans-werner-sinn-9780198791447","title":"The Euro Trap","description":"This book offers a critical assessment of the history of the euro, its crisis, and the rescue measures taken by the European Central Bank and the community of states. The euro induced huge capital flows from the northern to the southern countries of the Eurozone that triggered an inflationary credit bubble in the latter, deprived them of their competitiveness, and made them vulnerable to the financial crisis that spilled over from the US in 2007 and 2008. As private capital shied away from the southern countries, the ECB helped out by providing credit from the local money-printing presses. The ECB became heavily exposed to investment risks in the process, and subsequently had to be bailed out by intergovernmental rescue operations that provided replacement credit for the ECB credit, which itself had replaced the dwindling private credit. The interventions stretched the legal structures stipulated by the Maastricht Treaty which, in the absence of a European federal state, had granted the ECB a very limited mandate. These interventions created a path dependency that effectively made parliaments vicarious agents of the ECB's Governing Council.   This book describes what the author considers to be a dangerous political process that undermines both the market economy and democracy, without solving southern Europe's competitiveness problem. It argues that the Eurozone has to rethink its rules of conduct by limiting the role of the ECB, exiting the regime of soft budget constraints and writing off public and bank debt to help the crisis countries breathe again. At the same time, the Eurosystem should become more flexible by offering its members the option of exiting and re-entering the euro - something between the dollar and the Bretton Woods system - until it eventually turns into a federation with a strong political power centre and a uniform currency like the dollar.","brand":"WoB","offers":[{"title":"- \/ - \/ -","offer_id":51209818669329,"sku":"","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"GB \/ VERY_GOOD \/ INTERNAL","offer_id":51209818898705,"sku":"GOR009914686","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"GB \/ NEW \/ GARDNERS","offer_id":52323506553105,"sku":"NGR9780198791447","price":0.0,"currency_code":"GBP","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/0198791445.jpg?v=1751005385"},{"product_id":"casino-capitalism-book-hans-werner-sinn-9780199659883","title":"Casino Capitalism","description":"In Casino Capitalism Hans-Werner Sinn examines the causes of the banking crisis, points out the flaws in the economic rescue packages, and presents a master plan for the reform of financial markets. Sinn argues that the crisis came about because limited liability induced both Wall Street and Main Street to gamble with real estate properties. He meticulously describes the process of lending to American homeowners and criticizes both the process of securitizing and selling mortgage claims to the world, as well as the poor job rating agencies did in providing transparency. He argues that the American Dream has ended because the world now realizes that this dream was built on loans that are never likely to be repaid.   Sinn also asserts that the banking crisis has not yet been resolved, because the necessary write-offs of toxic assets have largely been swept under the carpet. Comparing actual worldwide write-offs with those estimated by the IMF estimates, he concludes that substantial parts, if not most, of the true losses have yet to be revealed and that the banking systems of many countries are on the brink of insolvency.   In view of this, he directs sharp criticism at the various economic rescue packages, arguing that the plans assume that banks have a liquidity problem while, in fact, they suffer from a solvency crisis. Sinn points out that the conflict between the goals of rescuing banks in the short term and inducing more prudent behaviour in the long term requires the government to help the banks, but not their shareholders, by becoming a temporary co-owner. In addition, he calls for higher equity requirements, a worldwide return to more cautious accounting methods, a ban on extremely speculative short selling, and strict regulations on conduits, hedge funds and credit default swaps.  This authoritative account provides an invaluable overview for academics, students, policymakers, politicians, and all those with an interest in the unprecedented 2008 banking crisis.","brand":"WoB","offers":[{"title":"GB \/ VERY_GOOD \/ INTERNAL","offer_id":52100755325201,"sku":"GOR008246786","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"GB \/ WELL_READ \/ INTERNAL","offer_id":52152581914897,"sku":"GOR014495733","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9780199659883.jpg?v=1776940442"},{"product_id":"economic-decisions-under-uncertainty-book-hans-werner-sinn-9783790804362","title":"Economic Decisions Under Uncertainty","description":"The Fundamental Issues Involved Why do we need a theory of uncertainty? It is a fact that almost all man's economic decisions are made under conditions of uncertainty, but this fact alone does not provide a strong enough argument for making the effort necessary to generalize ordinary preference theory designed for a world of perfect certainty. In accordance with Occam's Razor, the mathematician may well welcome a generalization of assumptions even if it does not promise more than a restatement of known results. The economist, however, will only be well disposed towards making the effort if he can expect to achieve new insights and interesting results, for he is interested in the techniques necessary for the generalization only as means to an end, not as ends in themselves. A stronger reason for developing a theory of uncertainty, therefore, seems to be the fact that there are kinds of economic activities to which the non-stochastic preference theory has no access or has access only through highly artificial constructions. Such activities include portfolio decisions of wealth holders, speculation, and insurance. These will be considered in detail in the last chapter of the book. The main purpose of this book, however, is not to apply a theory of uncertainty to concrete economic problems, the purpose rather is to formulate such a theory.","brand":"WoB","offers":[{"title":"GB \/ NEW \/ INGRAM","offer_id":52133347819793,"sku":"NLS9783790804362","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9783790804362.jpg?v=1757529356"},{"product_id":"economics-of-target-balances-book-hans-werner-sinn-9783030501693","title":"The Economics of Target Balances","description":"Target balances are the largest single item in some of the balance sheets of the Eurosystem's national central banks (NCBs), and yet very little is known about them by the general public and even by economists.","brand":"WoB","offers":[{"title":"GB \/ NEW \/ INGRAM","offer_id":52145028104465,"sku":"NLS9783030501693","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"US \/ NEW \/ INGRAM","offer_id":52995530653969,"sku":"NIN9783030501693","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9783030501693.jpg?v=1757591687"},{"product_id":"volkswirtschaftliche-probleme-der-deutschen-vereinigung-book-hans-werner-sinn-9783531084213","title":"Volkswirtschaftliche Probleme der Deutschen Vereinigung","description":null,"brand":"WoB","offers":[{"title":"GB \/ NEW \/ INGRAM","offer_id":52453212553489,"sku":"NLS9783531084213","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9783531084213.jpg?v=1759367153"},{"product_id":"new-systems-competition-book-hans-werner-sinn-9780631219521","title":"The New Systems Competition","description":"Competition between companies tends to be beneficial for the general public, but is this also true for competition between States in a world with global financial markets, low transport costs, and increasing migration? 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Addresses ways to organize competition so it will enhance the efficiency of these systems.","brand":"WoB","offers":[{"title":"GB \/ NEW \/ INGRAM","offer_id":52533089927441,"sku":"NLS9780631219521","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9780631219521.jpg?v=1760663579"},{"product_id":"okonomische-entscheidungen-bei-ungewiheit-book-hans-werner-sinn-9783169427024","title":"Ökonomische Entscheidungen bei Ungewißheit","description":null,"brand":"WoB","offers":[{"title":"GB \/ NEW \/ INGRAM","offer_id":52595650986257,"sku":"NLS9783169427024","price":0.0,"currency_code":"GBP","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9783169427024.jpg?v=1761141391"},{"product_id":"yesil-paradoks-book-hans-werner-sinn-9786059389150","title":"Yesil Paradoks","description":"A leading economist develops a supply-side approach to fighting climate change that encourages resource owners to leave more of their fossil carbon underground.The Earth is getting warmer. Yet, as Hans-Werner Sinn points out in this provocative book, the dominant policy approach--which aims to curb consumption of fossil energy--has been ineffective. Despite policy makers' efforts to promote alternative energy, impose emission controls on cars, and enforce tough energy-efficiency standards for buildings, the relentlessly rising curve of CO2 output does not show the slightest downward turn. Some proposed solutions are downright harmful: cultivating crops to make biofuels not only contributes to global warming but also uses resources that should be devoted to feeding the world's hungry. In The Green Paradox, Sinn proposes a new, more pragmatic approach based not on regulating the demand for fossil fuels but on controlling the supply.The owners of carbon resources, Sinn explains, are pre-empting future regulation by accelerating the production of fossil energy while they can. This is the Green Paradox expected future reduction in carbon consumption has the effect of accelerating climate change. Sinn suggests a supply-side solution: inducing the owners of carbon resources to leave more of their wealth underground. He proposes the swift introduction of a Super-Kyoto system--gathering all consumer countries into a cartel by means of a worldwide, coordinated cap-and-trade system supported by the levying of source taxes on capital income--to spoil the resource owners' appetite for financial assets.Only if we can shift our focus from local demand to worldwide supply policies for reducing carbon emissions, Sinn argues, will we have a chance of staving off climate disaster.","brand":"WoB","offers":[{"title":"US \/ NEW \/ INGRAM","offer_id":52762570653969,"sku":"NIN9786059389150","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9786059389150.jpg?v=1763601106"}],"url":"https:\/\/www.worldofbooks.com\/collections\/author-books-by-hans-werner-sinn.oembed","provider":"World of Books ","version":"1.0","type":"link"}