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Reforming U.S. Financial Markets
Book

Reforming U.S. Financial Markets

Reflections Before and Beyond Dodd-Frank

Randall S. Kroszner and Robert J. Shiller
MIT Press, 2011

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Editorial Rating

7

Qualities

  • Comprehensive
  • Analytical
  • Innovative

Recommendation

When the US’s top economists meet at a symposium on remaking America’s financial system, they’re bound to disagree. But in Randall S. Kroszner and Robert J. Shiller’s new book – a brief collection of the papers they presented at Harvard University, along with comments by their equally esteemed colleagues – their divergence lies more in their methods than in their main conclusion: The US financial sector desperately needs a makeover. getAbstract recommends their cogent, well-thought-out reasoning on the causes of the recent financial crisis.

Take-Aways

  • In 2010, the US Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act in response to the 2007-2008 financial crisis.
  • Yale economics professor Robert J. Shiller says the financial system needs “new rules of the game.”
  • Randall S. Kroszner of the University of Chicago argues for limited regulatory change.

About the Authors

Randall S. Kroszner is an economics professor at the University of Chicago and a former governor of the Federal Reserve System. Robert J. Shiller is an economics professor at Yale, the author of Irrational Exuberance and the co-author of Animal Spirits.

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