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Starred Review. Dick Hill gives just the everyman kind of reading to make Nobel Prize–winning economist Stiglitz's analysis of the financial collapse plainly comprehensible and a ripping good—if enraging—yarn. With harsh words for the right and the left, Reagan-era deregulations that set the stage for the catastrophe, the Fed's bungling, the high costs of the Iraq War, and President Obama's refusal to take stronger measures, Stiglitz is passionate and iconoclastic. Hill handles the financial intricacies with clarity and delivers the material with warmth, urgency, and erudition. A Norton hardcover. (Feb.)
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved. --This text refers to an out of print or unavailable edition of this title.
Written by a Nobel Prize recipient, a graduate of President Bill Clinton’s Council of Economic Advisors, and a stout advocate of Keynesian economics, this inquest into the recession of 2007–09 lashes many designated villains, banks above all. Writing in a spirit Andrew Jackson would have loved, Stiglitz assails financial institutions’ size, their executive compensation, the complexity of their financial instruments, and the taxpayer money that has been poured into them. But unlike Jackson, who didn’t understand a thing about economics, Stiglitz is a little more analytical. He dwells on incentives—perverse, in his argument—for risky financial legerdemain in housing mortgages. The temptations stemmed from deregulation of the financial industry, a Reaganesque policy Stiglitz rebukes: he favors re-regulation and more government involvement in the economy. In fact, Stiglitz waxes unhappily about the Obama administration’s interventions, which thus far have been inadequate in his view. Zinging the Federal Reserve for good measure, Stiglitz insistently and intelligently presses positions that challenge those of rightward-leaning economists upholding the virtues of markets. Amid animated contemporary economic debate, Stiglitz’s book will attract popular and professional attention. --Gilbert TaylorSee all Editorial Reviews
If you want to know how the 2007/2008 Financial Crises happened then listen to this CD. I originally borrowed this CD from my local library & then decided to purchase it so my... Read morePublished 14 days ago by Wendell Sears
Having read Charles Wheelan's fantastic book (with some drawbacks), I wanted to expand my knowledge of economics since college, and being interested in the 2008 financial crisis,... Read morePublished 4 months ago by fkdsj
Contradicts himself constantly, blaming Bush yet giving more specific evidence for which Bush had nothing to do with or control over.Published 9 months ago by Matthew Roberts
Many criticisms of this book are surface criticisms, and by that I mean people try to call out contradictions within Stiglitz framework that upon deeper review are at least... Read morePublished 11 months ago by Derek Zweig
After reading this book, here are the main arguments that I found:
1) Globalization causes a shift of economic activities in the US. Read more
Good book! Gave to friend.....also thought enlightening.....thank you for good service. Keep up good work & keep on top of privacy if at all possible......Published 12 months ago by nora