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Crisis Economics
Book

Crisis Economics

A Crash Course in the Future of Finance

Penguin Group (USA), 2011 more...

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Editorial Rating

8

Recommendation

Nouriel Roubini is the rare economist who, in the midst of a speculative bubble, accurately warned that the financial crisis of 2008 was coming. His bona fides established – and his “Dr. Doom” nickname well earned – Roubini and economics professor Stephen Mihm offer an insightful, entertaining look at the history and future of crashes. Get ready, Roubini warns: After a period of relative calm after the 1930s Great Depression, financial markets are in for a wild ride. He expects financial crashes to continue and offers advice for mitigating the damage, such as restructuring Wall Street bonuses and reining in big banks, although you may suspect that his recommendations will go unheeded. getAbstract recommends this book to investors and business leaders seeking a deeper understanding of the markets’ gyrations.

Take-Aways

  • The 2008 crisis upset the dominant economic orthodoxy of rational, efficient markets.
  • A new school of thought – “crisis economics,” which says investors are unpredictable but crashes aren’t – offers a more realistic portrayal of economic reality.
  • Wall Street should stop paying bankers and traders bonuses for success without punishing failure.

About the Authors

New York University economics professor Nouriel Roubini founded Roubini Global Economics and served in the White House from 1998 to 2000. University of Georgia history professor Stephen Mihm writes about economics and history for The New York Times Magazine.


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    N. A. 1 decade ago
    Learn to live in Uncertainty , confusion , irrational markets
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    N. A. 1 decade ago
    Great commentary to put a realistic view of the future Economic landscape, Not a pretty picture but
    "Let Reader Beware of future economic traps