Financial Fiasco: How America's Infatuation with Home Ownership and Easy Money Created the Economic Crisis

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9781935308133: Financial Fiasco: How America's Infatuation with Home Ownership and Easy Money Created the Economic Crisis

Financial Fiasco digs deep into the foundation of the economic meltdown, revealing how it was the product of conscious actions by decision makers in companies, government agencies, political institutions, and consumers. An easily accessible work written for general readers, Financial Fiasco tells the compelling story of how rate cutting by the Federal Reserve inflated the real estate market and fueled increased risk-taking in the financial markets; how new government policies to promote home ownership blasted air into the credit bubble; how new financial instruments, credit-rating requirements, and accounting rules intended to prevent cheating backfired; and much more. Financial Fiasco guides readers through a world of irresponsible behavior, warns that many of the solutions being implemented are repeating the mistakes that caused the crisis, and offers guidance on how to move forward.

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From the Back Cover:

"The merit of the book does not lie in apportioning blame or defending the thesis that government interventionism, not unbridled markets, was the principal cause of the tragic events whose consequences still haunt us. Norberg's book does a good job of bringing the arguments together and providing us with a full canvas. What is especially compelling is the evidence that this bubble was in essence no different from previous ones and, more eerily, that various governments are busy incubating the next one." --ALVARO VARGAS LLOSA, DESERET NEWS

Review:

Johan Norberg exposes the abiding hypocrisies of policy that generated this crisis far better than an American insider could. A masterwork in miniature. (Amity Shlaes, senior fellow in economic history, Council on Foreign Relations)

The subtitle of Johan Norberg's book, Financial Fiasco, is 'How America's Infatuation with Homeownership and Easy Money Created the Economic Crisis,' which captures the root causes of today's financial crisis. This highly readable book, by a historian, gives an unbiased explanation of the various factors leading to the financial meltdown, and says that if we're looking for scapegoats, we need only to take a look in the mirror. Norberg has done a yeoman's job in economic diagnostics. Whether the American people want to take the necessary treatment is another question. (Walter E. Williams, George Mason University)

Financial Fiasco, by Johan Norberg, is a penetrating and frightening analysis of the causes and consequences of the 2008 Financial Panic. Norberg lays out with precision and detail how a perfect storm of misguided government policies and private sector exuberance combined to create the worst economic downturn since World War II. This is essential reading for everyone who cares about our economic future, but especially for those who are still not sure what caused the crisis. As Norberg makes clear, private forces jumped willingly on a runaway train, but it was government that built the train and drove it off a cliff. (Professor Jeff Miron Harvard University)

Essential reading for everyone who cares about our economic future, but especially for those who are still not sure what caused the crisis. As Norberg makes clear,private forces jumped willingly on a runaway train, but it was government that built the train and drove it off a cliff. (Jeffrey Miron, Senior Lecturer in Economics, Harvard University)

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Institute, Norberg senior fellow at the Cato; author of "In Defence of Global Capitalism", Johan
Editore: Cato Institute
ISBN 10: 1935308130 ISBN 13: 9781935308133
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Descrizione libro Cato Institute. Hardcover. Condizione libro: New. 1935308130 Ships promptly. Codice libro della libreria Z1935308130ZN

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Johan Norberg senior fellow at the Cato Institute and author of "In Defence of Global Capitalism"
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ISBN 10: 1935308130 ISBN 13: 9781935308133
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Descrizione libro Cato Institute, 2009. Hardcover. Condizione libro: New. book. Codice libro della libreria M1935308130

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Norberg senior fellow at the Cato Instit
Editore: Cato Institute (2009)
ISBN 10: 1935308130 ISBN 13: 9781935308133
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Descrizione libro Cato Institute, 2009. Hardcover. Condizione libro: New. Never used!. Codice libro della libreria P111935308130

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