| Description |
1 online resource (x, 356 pages) : illustrations |
| Physical Medium |
polychrome |
| Description |
text file |
| Series |
UPCC book collections on Project MUSE.
|
| Bibliography |
Includes bibliographical references and index. |
| Contents |
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. |
| Summary |
"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. |
| Local Note |
eBooks on EBSCOhost EBSCO eBook Subscription Academic Collection - North America |
| Subject |
Global Financial Crisis (2008-2009) |
|
Global Financial Crisis, 2008-2009 -- Political aspects.
|
|
Financial crises -- United States -- History -- 21st century.
|
|
Financial crises. |
|
United States. |
|
History. |
| Chronological Term |
21st century |
|
2000-2099 |
| Genre/Form |
Electronic books.
|
|
History.
|
|
Electronic books.
|
| Added Author |
Poole, Keith T.
|
|
Rosenthal, Howard, 1939-
|
| Other Form: |
Print version: McCarty, Nolan M. Political bubbles. Princeton : Princeton University Press, 2013 9780691145013 (DLC) 2012041583 (OCoLC)818327287 |
| ISBN |
9781400846399 (electronic book) |
|
1400846390 (electronic book) |
|
9780691145013 |
|
0691145016 |
|
