An Extraordinary Time
The End of the Postwar Boom and the Return of the Ordinary Economy
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Narrated by:
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James Foster
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By:
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Marc Levinson
About this listen
In An Extraordinary Time, acclaimed economic historian Marc Levinson recounts the global collapse of the postwar economy in the 1970s. While economists struggle to return us to the high economic growth rates of the past, Levinson counterintuitively argues that the boom years of the 1950s and 1960s were an anomaly; slow economic growth is the norm - no matter what economists and politicians may say. Yet these atypical years left the public with unreasonable expectations of what government can achieve. When the economy failed to revive, suspicion of government and liberal institutions rose sharply, laying the groundwork for the political and economic polarization that we're still grappling with today.
A sweeping reappraisal of the last sixty years of world history, An Extraordinary Time describes how the postwar economic boom dissipated, undermining faith in government, destabilizing the global financial system, and forcing us to come to terms with how tumultuous our economy really is.
©2016 Marc Levinson. (P)2016 Brilliance Audio, all rights reserved.Listeners also enjoyed...
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Dead Aid
- Why Aid Is Not Working and How There Is a Better Way for Africa
- By: Dambisa Moyo, Niall Ferguson - foreword
- Narrated by: Mike Chamberlain
- Length: 6 hrs and 29 mins
- Unabridged
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A national best-seller, Dead Aid unflinchingly confronts one of the greatest myths of our time: that billions of dollars in aid sent from wealthy countries to developing African nations has helped to reduce poverty and increase growth. In fact, poverty levels continue to escalate and growth rates have steadily declined - and millions continue to suffer. Debunking the current model of international aid promoted by both Hollywood celebrities and policy makers, Dambisa Moyo offers a bold new road map for financing the development of the world's poorest countries.
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Dangerous / Right Wing US view
- By David O'Donovan on 03-05-19
By: Dambisa Moyo, and others
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The Instant Economist
- Everything You Need to Know About How the Economy Works
- By: Timothy Taylor
- Narrated by: Don Hagen
- Length: 9 hrs and 35 mins
- Unabridged
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Economics isn't just about numbers: It's about politics, psychology, history, and so much more. We are all economists - when we work, save for the future, invest, pay taxes, and buy our groceries. Yet many of us feel lost when the subject arises. Award-winning professor Timothy Taylor here tackles all the key questions and hot topics of both microeconomics and macroeconomics, so you can understand and discuss economics on a personal, national, and global level.
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Timothy Taylor is the best
- By Jake on 02-15-15
By: Timothy Taylor
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Brazil
- The Troubled Rise of a Global Power
- By: Michael Reid
- Narrated by: Michael Healy
- Length: 16 hrs and 38 mins
- Unabridged
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Experts believe that Brazil, the world's fifth largest country and its seventh largest economy, will be one of the most important global powers by the year 2030. Yet far more attention has been paid to the other rising behemoths: Russia, India, and China. Often ignored and underappreciated, Brazil, according to renowned, award-winning journalist Michael Reid, has finally begun to live up to its potential but faces important challenges before it becomes a nation of substantial global significance.
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Good short history of Brazil, lame pronunciation
- By Bubu Mungani on 07-21-19
By: Michael Reid
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A History of Money and Banking in the United States: The Colonial Era to World War II
- By: Murray N. Rothbard
- Narrated by: Matthew Mezinskis
- Length: 13 hrs and 48 mins
- Unabridged
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In what is sure to become the standard account, Rothbard traces inflations, banking panics, and money meltdowns from the colonial period through the mid-20th century to show how government's systematic war on sound money is the hidden force behind nearly all major economic calamities in American history. Never has the story of money and banking been told with such rhetorical power and theoretical vigor. You will treasure this volume.
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Great facts (if selective); ideological rigidity
- By Philo on 02-04-16
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Collusion
- How Central Bankers Rigged the World
- By: Nomi Prins
- Narrated by: Ellen Archer
- Length: 14 hrs and 30 mins
- Unabridged
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In this searing exposé, former Wall Street insider Nomi Prins shows how the 2007-2008 financial crisis turbo-boosted the influence of central bankers and triggered a massive shift in the world order. Packed with tantalizing details about the elite players orchestrating the world economy, Collusion takes the listener inside the most discreet conversations at exclusive retreats like Jackson Hole and Davos. A work of meticulous reporting and bracing analysis, Collusion will change the way we understand the new world of international finance.
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Fair history survey, lazy characterizations
- By Philo on 05-09-18
By: Nomi Prins
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The End of Normal
- The Great Crisis and the Future of Growth
- By: James K. Galbraith
- Narrated by: L. J. Ganser
- Length: 9 hrs and 27 mins
- Unabridged
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The years since the Great Crisis of 2008 have seen slow growth, high unemployment, falling home values, chronic deficits, a deepening disaster in Europe - and a stale argument between two false solutions, “austerity” on one side and “stimulus” on the other. Both sides and practically all analyses of the crisis so far take for granted that the economic growth from the early 1950s until 2000 - interrupted only by the troubled 1970s - represented a normal performance.
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Fault Lines
- How Hidden Fractures Still Threaten the World's Economy
- By: Raghuram Rajan
- Narrated by: Richard Davidson
- Length: 12 hrs and 58 mins
- Unabridged
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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.
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A REAL SNOOZER
- By Frank on 12-02-10
By: Raghuram Rajan
What listeners say about An Extraordinary Time
Average customer ratingsReviews - Please select the tabs below to change the source of reviews.
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- Sol
- 12-30-16
Best summary of economy history since World War II
An extraordinary Times taught me a lot of history surrounding the economic times of the last 60-years. Great read, I learned a great deal. I recommend this book for anyone who would like to get a perspective on economic history of the last 60-years.
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2 people found this helpful
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- Philo
- 11-22-16
Good review of crucial turning point in history
Lately I have focused closely on this era and these pivotal changes in US and global history. This one spends the most time on the USA and quite a bit on Britain, but ventures elsewhere, to France and so on. Policies and leaders are well and clearly explained. A big pivot discussed here surrounds the year 1973, when productivity growth seemed to collapse (right into the present day). I came of age in the 1970s, and felt a need to learn more details of the decisions made, their makers, and their effects. This fills the bill nicely. I also strongly recommend a print book to read alongside this one: More: The Politics of Economic Growth in Postwar America, by Robert M. Collins. It too is a gem, rich in detail and insight (perhaps more than this work, but with a slightly different point of view) and together, much can be learned. All this has plenty of pertinence today, as our politics and expectations and stresses are still wrapped around the nostalgic fantasies, and the relative baseline, of times postwar and before 1973. And there seem to be huge gaps of forgetfulness, if not ignorance, among members of the public. I think all Americans (and others too) could benefit from this big dose of perspective.
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4 people found this helpful
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- Ronald
- 01-06-17
Macroeconomics unable durably to stimulate growth
Would you listen to An Extraordinary Time again? Why?
I listened to every chapter at least twice and plan to listen to it again or purchase the book to read. It was well written but had a lot of facts and concepts not fully absorbed at once. But I found each run-through to be fascinating and enjoyable.
Any additional comments?
Levinson writes well but I had to listen attentively to enjoy the account of world economic events since my own birth in the early 1950s. There's a strong connection between productivity growth and economic growth. The end of WWII unleashed worldwide economic growth for two decades. That became the new baseline, and people decided it could and should be maintained. It started to unravel for a number of reasons at the time of the OPEC embargo in 1973. No political party nor form of government has been able to restore those levels of growth. Levinson explains why things have turned out the way they did, and why we should be skeptical of overly optimistic promises from political parties or ideologues. Yes, innovation is necessary to increase productivity and growth, but Levinson explains why there are unpredictably long delays between innovative technologies and their salutary effect on growth.
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1 person found this helpful
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- Ray
- 12-06-16
Economics and history come together
This book presents a concise summary of the post-war western economy, focusing on the US, Germany, and France with a side trip to South America. From my understanding of economics, this is a fair assessment of what happened during that period and why. For me, this book did a good job of pulling together events I heard about while growing up, but never really understood in an historical context. Things from Nixon’s price and wage freeze to Reaganomics. I was less familiar with developments in Europe, so it was helpful to see how economic ideas traveled among the major western countries.
The main thesis, as I understand it, is that economic output grows when productivity grows. The post-war economic boom that fizzled out in 1973 was an unusual period of global economic growth, not to be repeated.
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- Anonymous User
- 03-08-17
taking credit for the golden age
? does it seem to you that american life is changing in a fundamental way
? are the advantages that were true for your parents just not true for you
? does the USA we knew, in the sixty years after WW II, seem gone forever
marc levinson has written a scholarly book confirming all these suspicions
the USA emerged from WW II to enjoy two 30 year blocks of peace and prosperity
1944 - 1974 saw the fastest growth / 1974 - 2004 saw steady but slower growth
workplace productivity increased 2 - 4% per year and living standards rose
well " the party is over " and what was once given will now have to be earned
today's generation will struggle just to maintain the life their parents took for granted
we've read about the " greatest " generation that endured the depression and WW II
but what about the american generation that came of age, just as the war ended
they seem happy to take personal credit for all the benefits of the post-war boom
recent elections were tinged with a sad nostalgia for america's prior greatness
the enduring truth is " that train has left the station " and will never return
we need to prepare our children for the new realities, not their grandparents' realities
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2 people found this helpful