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Political bubbles : financial crises and the failure of American democracy /

"Behind every financial crisis lurks a "political bubble"--Policy biases that foster market behaviors leading to financial instability. Rather than tilting against risky behavior, political bubbles--arising from a potent combination of beliefs, institutions, and interests--aid, abet,...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: McCarty, Nolan M.
Otros Autores: Poole, Keith T., Rosenthal, Howard, 1939-
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Princeton : Princeton University Press, 2013.
Temas:
Acceso en línea:Texto completo

MARC

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100 1 |a McCarty, Nolan M. 
245 1 0 |a Political bubbles :  |b financial crises and the failure of American democracy /  |c Nolan McCarty, Princeton University, Keith T. Poole, University of Georgia, Howard Rosenthal, New York University. 
260 |a Princeton :  |b Princeton University Press,  |c 2013. 
300 |a 1 online resource (x, 356 pages) :  |b illustrations 
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504 |a Includes bibliographical references and index. 
505 0 |a Bubble expectations -- Ideology -- The interests -- Institutions -- The political bubble of the crisis of 2008 -- Historical lessons of the responses to pops -- The pop of 2008 -- "Pop"ulism -- How to waste a crisis. 
520 |a "Behind every financial crisis lurks a "political bubble"--Policy biases that foster market behaviors leading to financial instability. Rather than tilting against risky behavior, political bubbles--arising from a potent combination of beliefs, institutions, and interests--aid, abet, and amplify risk. Demonstrating how political bubbles helped create the real estate-generated financial bubble and the 2008 financial crisis, this book argues that similar government oversights in the aftermath of the crisis undermined Washington's response to the "popped" financial bubble, and shows how such patterns have occurred repeatedly throughout US history. The authors show that just as financial bubbles are an unfortunate mix of mistaken beliefs, market imperfections, and greed, political bubbles are the product of rigid ideologies, unresponsive and ineffective government institutions, and special interests. Financial market innovations--including adjustable-rate mortgages, mortgage-backed securities, and credit default swaps--become subject to legislated leniency and regulatory failure, increasing hazardous practices. The authors shed important light on the politics that blinds regulators to the economic weaknesses that create the conditions for economic bubbles and recommend simple, focused rules that should help avoid such crises in the future."--Publisher's website 
588 0 |a Print version record. 
546 |a English. 
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650 0 |a Global Financial Crisis, 2008-2009  |x Political aspects. 
650 0 |a Financial crises  |z United States  |x History  |y 21st century. 
650 6 |a Crise financière mondiale, 2008-2009  |x Aspect politique. 
650 7 |a BUSINESS & ECONOMICS  |x Economic Conditions.  |2 bisacsh 
650 7 |a BUSINESS & ECONOMICS  |x Economic History.  |2 bisacsh 
650 7 |a BUSINESS & ECONOMICS  |x Economics  |x Comparative.  |2 bisacsh 
650 7 |a POLITICAL SCIENCE  |x Economic Conditions.  |2 bisacsh 
650 7 |a POLITICAL SCIENCE  |x Political Economy.  |2 bisacsh 
650 7 |a Financial crises.  |2 fast  |0 (OCoLC)fst00924607 
651 7 |a United States.  |2 fast  |0 (OCoLC)fst01204155 
647 7 |a Global Financial Crisis  |d (2008-2009)  |2 fast  |0 (OCoLC)fst01755654 
648 7 |a 2000-2099  |2 fast 
655 7 |a History.  |2 fast  |0 (OCoLC)fst01411628 
700 1 |a Poole, Keith T. 
700 1 |a Rosenthal, Howard,  |d 1939- 
776 0 8 |i Print version:  |a McCarty, Nolan M.  |t Political bubbles.  |d Princeton : Princeton University Press, 2013  |z 9780691145013  |w (DLC) 2012041583  |w (OCoLC)818327287 
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