Free Delivery Over $100
|
|
|||
|
||||
OverviewFull Product DetailsAuthor: Jeffrey Friedman , Wladimir KrausPublisher: University of Pennsylvania Press Imprint: University of Pennsylvania Press Dimensions: Width: 15.20cm , Height: 2.50cm , Length: 22.90cm Weight: 0.494kg ISBN: 9780812243574ISBN 10: 0812243579 Pages: 224 Publication Date: 24 October 2011 Audience: College/higher education , Tertiary & Higher Education Format: Hardback Publisher's Status: Active Availability: Awaiting stock  The supplier is currently out of stock of this item. It will be ordered for you and placed on backorder. Once it does come back in stock, we will ship it out for you. Table of ContentsList of Figures and Tables Glossary of Abbreviations and Acronyms Introduction 1 Bonuses, Irrationality, and Too-Bigness: The Conventional Wisdom About the Financial Crisis and Its Theoretical Implications 2 Capital Adequacy Regulations and the Financial Crisis: Bankers' and Regulators' Errors 3 The Interaction of Regulations and the Great Recession: Fetishizing Market Prices 4 Capitalism and Regulation: Ignorance, Heterogeneity, and Systemic Risk Conclusion Appendix I. Scholarship About the Corporate-Compensation Hypothesis Appendix II. The Basel Rules off the Balance Sheet Notes References Index AcknowledgmentsReviewsSelected by Choice magazine as an Outstanding Academic Title for 2012 This book argues that the incentive distortions of bank capital-adequacy regulations were the proximate cause of the 2007 financial crisis. The systemic instability that followed was fueled by blind-sided experts who perpetuated the myths of too-big-to-fail and overcompensated corporate managers. A serious read for those struggling to make sense of the worst crisis since the Depression. -Vernon Smith, 2002 Nobel Laureate in Economics An excellent conceptual book on the financial crisis, full of deep research and intellectual honesty. -Tyler Cowen, Marginal Revolution Enlightening... the book is exemplary, and one of the best on the crisis yet. -Quarterly Journal of Austrian Economics While this is the single best book on the financial crisis, it also offers an outstanding analysis of decision making in modern regulatory states. -Samuel DeCanio, Yale University If you thought you understood the causes of the financial crisis, think again. This thought-provoking exploration of the financial crisis provides a convincing argument that much of what we thought we knew about the crisis is, at best, misleading. In thinking about the cause, much more focus needs to be given to ignorance on everyone's part, and models that don't include ignorance will be, at best, incomplete. Ignorance of the importance of ignorance is a sign of ignorance. -David Colander, Middlebury College For anyone wanting to read only a single book about the crisis and its origins, this is the book to read. -Choice While this is the single best book on the financial crisis, it also offers an outstanding analysis of decision making in modern regulatory states. -Samuel DeCanio, Yale University This book argues that the incentive distortions of bank capital-adequacy regulations were the proximate cause of the 2007 financial crisis. The systemic instability that followed was fueled by blind-sided experts who perpetuated the myths of too-big-to-fail and overcompensated corporate managers. A serious read for those struggling to make sense of the worst crisis since the Depression. -Vernon Smith, 2002 Nobel Laureate in Economics An excellent conceptual book on the financial crisis, full of deep research and intellectual honesty. -Tyler Cowen, Marginal Revolution If you thought you understood the causes of the financial crisis, think again. This thought-provoking exploration of the financial crisis provides a convincing argument that much of what we thought we knew about the crisis is, at best, misleading. In thinking about the cause, much more focus needs to be given to ignorance on everyone's part, and models that don't include ignorance will be, at best, incomplete. Ignorance of the importance of ignorance is a sign of ignorance. -David Colander, Middlebury College Jeffrey Friedman and Wladimir Kraus distinguish themselves by presenting the most systematic and rigorously argued empirical analysis of the crash to date. -Perspectives on Politics Selected by Choice magazine as an Outstanding Academic Title for 2013 This book provides an important perspective on the financial crisis, arguing that most narratives of the crisis understate the importance of risk-based capital regulations as a causal factor. This is an important point of view, and the authors make a strong case. -Arnold Kling, author of Unchecked and Unbalanced: How the Discrepancy Between Knowledge and Power Caused the Financial Crisis and Threatens Democracy Author InformationJeffrey Friedman is a visiting scholar in the Department of Government at the University of Texas, Austin. He is the editor of What Caused the Financial Crisis, also available from the University of Pennsylvania Press, and editor of the journal Critical Review. Wladimir Kraus is a doctoral candidate in economics at Universite Paul Cezanne Aix-Marseille and associate editor of Critical Review. Together, Friedman and Kraus maintain Causes of the Crisis, a blog that publishes updated information about the financial crisis. Tab Content 6Author Website:Countries AvailableAll regions |
||||
