Much of our current economic malaise began with the financial crisis of 2007-2010. There are many simplistic explanations that are incomplete or simply wrong: the financial crisis was caused by greed, the Republican party, the capitalist system, American consumerism. Many experts have provided insightful explanations from the viewpoint of their specialty (financial instruments, real estate, economics, banking or governance) and many actors have published rivetingaccounts of key events of the crisis. This book brings all these perspectivestogether in a short and accessible overview of the factors contributing to the onset of the crisis, and discusses the reaction to the crisis by mainstream and Austrian economists.It provides the reader with an understanding of the root of the financial crisis, taking into account the opinions of leading economists. INDICE: Foreword and Acknowledgements.PART I: THE CRISIS OF 2007-2010.The Nature and Effects of the 2007-2010 Crisis and Ways to Resolve It.The Nature of the 2007 Financial Crisis.An Overview of the 'Financial Sector'.Was this a Crisis for Everyone?.Some Effects of the Toxic Assets.First Effect: Difficulties in Routine Economic Transactions.Second Effect: Shrinkage of Habitual Sources of Financing.Third Effect: Deflation .Why we should Care: What Happens if there is No Bailout -the Mainstream View.An Alternative View on the Crisis: Austrian Economics.PART II: THE GENESIS OF THE CRISIS.The Roots of the Crisis .Some Basics About Shelter and Home Ownership.The Historical Context.The Mechanicsof the Crisis.Investment Banking and Various Fund Managers.Mortgages and the Hierarchy of Markets: from Construction to Mortgage Backed Securities.Securitization.Imperfections.Three Chronologies and the Genesis of the 2007-2010 Crisis.Overview.Chronology of U.S. Government Interventions in Housing.Spasms in USHousing.The ABCP (Securitization) Bubble that Preceded the 2007 Financial Crisis.Securities.The Ball of Yarn Unravels.Conclusion.PART III: REMEDIES AND REPARTEE.The Crisis Response of the Main Actors: Ben Bernanke and Timothy Geithner.A Survey of Opinions 1 - Saltwater Economists.Saltwater Economist Number One: Paul Krugman.Saltwater Economist Number Two: Joseph Stiglitz.A survey of Opinions 2 - Freshwater Economists and Austrian Economists.Introduction .Freshwater Economist Number One: Luigi Zingales.Freshwater Economist Number Two: John Cochrane.Austrian Economists.Austrian Economists on the Bailout.Peter Schiff on Stimulus.Popular Opinion.Rather than a Conclusion, more Questions.Analysis: What Economists Saw.Action: What Economists Proposed.Bibliography.Index .
- ISBN: 978-0-230-29853-8
- Editorial: Palgrave Macmillan
- Encuadernacion: Cartoné
- Páginas: 192
- Fecha Publicación: 22/06/2012
- Nº Volúmenes: 1
- Idioma: Desconocido