Political Bubbles: Financial Crises and the Failure of American Democracy #2020

Political Bubbles: Financial Crises and the Failure of American Democracy Nolan M. McCarty Keith T. Poole Howard Rosenthal 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

  • Title: Political Bubbles: Financial Crises and the Failure of American Democracy
  • Author: Nolan M. McCarty Keith T. Poole Howard Rosenthal
  • ISBN: 9780691145013
  • Page: 166
  • Format: Hardcover
  • Political Bubbles: Financial Crises and the Failure of American Democracy Nolan M. McCarty Keith T. Poole Howard Rosenthal 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 generatBehind 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 The first full accounting of how politics produces financial ruptures, Political Bubbles offers timely lessons that all sectors would do well to heed.
    Political Bubbles: Financial Crises and the Failure of American Democracy Nolan M. McCarty Keith T. Poole Howard Rosenthal

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      Published :2020-04-12T14:58:43+00:00

    One thought on “Political Bubbles: Financial Crises and the Failure of American Democracy”

    1. Nolan McCarty, AB 90AuthorFrom the author 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 governmen [...]

    2. Reading this today for a discussion on The Scholars Circle with the authors They are great political scientists with a lot to contribute for people to understand the political underpinnings of the financial crises Politics affects everything So we must learn If you want to hear the interview with them, please search for it at your station I know it will air on August 31 on WPRR and WAZU and September 1 on KPFK I don t remember the schedule of the other stations And we keep an archive at scholars [...]

    3. Assigned for a class It didn t work out quite as expected because the financial collapse is ancient history for students who have been exposed to the ACA debate and the debt ceiling appropriations shutdown shenanigans of the past 2 years.

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