Political bubbles: financial crises and the failure of American democracy
Saved in:
| Main Author: | |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Princeton
Princeton University Press
2013
|
| Subjects: | |
| Links: | http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=543149 |
| Item Description: | Print version record |
| Physical Description: | 1 online resource (x, 356 pages) illustrations |
| ISBN: | 9781400846399 1400846390 |
Staff View
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| 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 |
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| 505 | 8 | |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 | |
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Record in the Search Index
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| any_adam_object | |
| author | McCarty, Nolan M. |
| author_facet | McCarty, Nolan M. |
| author_role | aut |
| author_sort | McCarty, Nolan M. |
| author_variant | n m m nm nmm |
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| bvnumber | BV045356628 |
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| contents | "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 |
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| dewey-tens | 330 - Economics |
| discipline | Politologie Wirtschaftswissenschaften |
| era | 2000-2099 fast Geschichte 2008-2009 gnd |
| era_facet | 2000-2099 Geschichte 2008-2009 |
| format | Electronic eBook |
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| spelling | McCarty, Nolan M. Verfasser aut Political bubbles financial crises and the failure of American democracy Nolan McCarty, Princeton University, Keith T. Poole, University of Georgia, Howard Rosenthal, New York University Princeton Princeton University Press 2013 1 online resource (x, 356 pages) illustrations txt rdacontent c rdamedia cr rdacarrier Print version record "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 Global Financial Crisis (2008-2009) fast 2000-2099 fast Geschichte 2008-2009 gnd rswk-swf BUSINESS & ECONOMICS / Economic Conditions bisacsh BUSINESS & ECONOMICS / Economic History bisacsh BUSINESS & ECONOMICS / Economics / Comparative bisacsh POLITICAL SCIENCE / Economic Conditions bisacsh POLITICAL SCIENCE / Political Economy bisacsh Financial crises fast Global Financial Crisis, 2008-2009 Political aspects Financial crises United States History 21st century Finanzkrise (DE-588)7635855-0 gnd rswk-swf Demokratie (DE-588)4011413-2 gnd rswk-swf USA (DE-588)4078704-7 gnd rswk-swf USA (DE-588)4078704-7 g Finanzkrise (DE-588)7635855-0 s Geschichte 2008-2009 z Demokratie (DE-588)4011413-2 s 1\p DE-604 Poole, Keith T. Sonstige oth Rosenthal, Howard 1939- Sonstige oth Erscheint auch als Druck-Ausgabe McCarty, Nolan M. Political bubbles Princeton : Princeton University Press, 2013 9780691145013 1\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk |
| spellingShingle | McCarty, Nolan M. 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, 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 Global Financial Crisis (2008-2009) fast BUSINESS & ECONOMICS / Economic Conditions bisacsh BUSINESS & ECONOMICS / Economic History bisacsh BUSINESS & ECONOMICS / Economics / Comparative bisacsh POLITICAL SCIENCE / Economic Conditions bisacsh POLITICAL SCIENCE / Political Economy bisacsh Financial crises fast Global Financial Crisis, 2008-2009 Political aspects Financial crises United States History 21st century Finanzkrise (DE-588)7635855-0 gnd Demokratie (DE-588)4011413-2 gnd |
| subject_GND | (DE-588)7635855-0 (DE-588)4011413-2 (DE-588)4078704-7 |
| title | Political bubbles financial crises and the failure of American democracy |
| title_auth | Political bubbles financial crises and the failure of American democracy |
| title_exact_search | Political bubbles financial crises and the failure of American democracy |
| title_full | Political bubbles financial crises and the failure of American democracy Nolan McCarty, Princeton University, Keith T. Poole, University of Georgia, Howard Rosenthal, New York University |
| title_fullStr | Political bubbles financial crises and the failure of American democracy Nolan McCarty, Princeton University, Keith T. Poole, University of Georgia, Howard Rosenthal, New York University |
| title_full_unstemmed | Political bubbles financial crises and the failure of American democracy Nolan McCarty, Princeton University, Keith T. Poole, University of Georgia, Howard Rosenthal, New York University |
| title_short | Political bubbles |
| title_sort | political bubbles financial crises and the failure of american democracy |
| title_sub | financial crises and the failure of American democracy |
| topic | Global Financial Crisis (2008-2009) fast BUSINESS & ECONOMICS / Economic Conditions bisacsh BUSINESS & ECONOMICS / Economic History bisacsh BUSINESS & ECONOMICS / Economics / Comparative bisacsh POLITICAL SCIENCE / Economic Conditions bisacsh POLITICAL SCIENCE / Political Economy bisacsh Financial crises fast Global Financial Crisis, 2008-2009 Political aspects Financial crises United States History 21st century Finanzkrise (DE-588)7635855-0 gnd Demokratie (DE-588)4011413-2 gnd |
| topic_facet | Global Financial Crisis (2008-2009) BUSINESS & ECONOMICS / Economic Conditions BUSINESS & ECONOMICS / Economic History BUSINESS & ECONOMICS / Economics / Comparative POLITICAL SCIENCE / Economic Conditions POLITICAL SCIENCE / Political Economy Financial crises Global Financial Crisis, 2008-2009 Political aspects Financial crises United States History 21st century Finanzkrise Demokratie USA |
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