Notice bibliographique
- Notice
Type(s) de contenu et mode(s) de consultation : Texte noté : électronique
Auteur(s) : McCarty, Nolan M.
Titre(s) : Political bubbles [Texte électronique] : financial crises and the failure of American democracy / Nolan McCarty, Princeton University, Keith T. Poole, University of Georgia, Howard Rosenthal, New York University
Publication : Princeton : Princeton University Press, 2013
Description matérielle : 1 online resource (x, 356 pages)
Note(s) : "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.
Autre(s) auteur(s) : Poole, Keith T. (1939-....). Auteur ou responsable intellectuel
Rosenthal, Howard (1939-....). Auteur ou responsable intellectuel
Sujet(s) : Bouddhisme et politique
Crises financières
Identifiants, prix et caractéristiques : ISBN 9781400846399
Identifiant de la notice : ark:/12148/cb436974148
Notice n° :
FRBNF43697414
(notice reprise d'un réservoir extérieur)
Table des matières : 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.