The Cost of Capitalism: Understanding Market Mayhem and Stabilizing our Economic Future
Understanding Market Mayhem and Stabilizing our Economic Future
1. Auflage
Erschienen am 16. Februar 2009
193 Seiten
978-0-07-162845-7 (ISBN)
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Beschreibung
CNBC regular Robert J. Barbera offers a crystal clear explanation of the financial market crisis of 2008 While mainstream financial analysts are stringing together ad hoc explanations for the financial crisis of 2008, a relatively small group of economists saw this coming. In The Cost of Capitalism, Robert J. Barbera explains why.Barbera makes the case that investors and policy-makers can reduce the risk of truly gruesome outcomes if they better plan for the violent economic storms, which history confirms are always over the horizon.Investors will learn how to gird themselves for the roller-coaster ride that is free market capitalism; policy makers will find out how to plan for crises they know will occur at some point; and academic economists will rethink their pursuit of ever more elaborate mathematical models that bear no resemblance to the real world.The message is simple: Stop pretending that people are always rational and that markets are always efficient-and be prepared for market mayhem.
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Autor*in
Robert J. Barbera, Ph.D., is executive vice president and chief economist at ITG and an Economics Department Fellow at Johns Hopkins University. He has been a noted Wall Street economist for over 25 years. Before arriving on Wall Street, Barbera was a staff economist for Senator Paul Tsongas and an economist for the Congressional Budget Office.
Inhalt
Intro
Section I
1.The Market is the Message
2.How Much Risk Is Too Much Risk?
3.Hyman Minsky, A Lefty Who Had It Right
Section II: Asset Market Upheaval: The Cycle Driver for the Past 20 Years
4.Not Iraq and Tanks, Debt and Banks, the 1990 Recession
5: Tulips in Tokyo: The Asset Inflation/Deflation That Consigned Japan to a Lost Decade
6: The Asian Contagion: What Went Up Went Down, With a Vengeance!
7: The 2000 Recession, From Brave New World Boom to Wild Technology Share Price Bust
8: The Spectacular Slide For House Prices, Consumer Purchasing Power, the 2008 Recession
Section III: Concluding Observations
9: Mainstream Economics: A Slavish Devotion To Rational Market Theories
10: The Politics of Economics: Confusing Free Market Triumph with free market infallibility
11: The Punch Line: Embrace Capitalism but don't forget the seat belts and the air bags
Section I
1.The Market is the Message
2.How Much Risk Is Too Much Risk?
3.Hyman Minsky, A Lefty Who Had It Right
Section II: Asset Market Upheaval: The Cycle Driver for the Past 20 Years
4.Not Iraq and Tanks, Debt and Banks, the 1990 Recession
5: Tulips in Tokyo: The Asset Inflation/Deflation That Consigned Japan to a Lost Decade
6: The Asian Contagion: What Went Up Went Down, With a Vengeance!
7: The 2000 Recession, From Brave New World Boom to Wild Technology Share Price Bust
8: The Spectacular Slide For House Prices, Consumer Purchasing Power, the 2008 Recession
Section III: Concluding Observations
9: Mainstream Economics: A Slavish Devotion To Rational Market Theories
10: The Politics of Economics: Confusing Free Market Triumph with free market infallibility
11: The Punch Line: Embrace Capitalism but don't forget the seat belts and the air bags
