The Financial Crisis and the Free Market Cure: Why Pure Capitalism is the World Economy's Only Hope
1st Edition
1260143457
·
9781260143454
© 2018 | Published: May 7, 2018
WHAT HAVE WE LEARNED FROM THE FINANCIAL CRISIS?NOTHING.The informative bestseller that shows us where our economy went wrong—and what we can do about it—with a timely new introduction.One of the most important books to emerge from the 2008 econom…
Read More
Request Review Copy
Receive via shipping:
- Print bound version of the complete text
Introduction to the Paperback Edition
Introduction
1: Fundamental Themes
2: What Happened?
3: Government Monetary Policy: The Fed as the Primary Cause
4: FDIC Insurance: The Background Cause
5: Government Housing Policy: The Proximate Cause
6: The Essential Role of Banks in a Complex Economy: The Liquidity Challenge
7: The Residential Real-Estate-Market Bubble and Financial-Market Stress
8: Failure of the Rating Agencies: The Subprime Mortgage Market and Its Impact on Capital Markets
9: Pick-a-Payment Mortgages: A Toxic Product of FDIC Insurance Coverage
10: How Freddie and Fannie Grew to Dominate the Home Mortgage Lending Business
11: Fair-Value Accounting and Wealth Destruction
12: Derivatives and Shadow Banking: A Misunderstanding
13: The Myth that "Deregulation" Caused the Financial Crisis
14: How the SEC Made Matters Worse
15: Market Corrections Are Necessary, but Panics Are Destructive and Avoidable
16: TARP (Troubled Asset Relief Program)
17: What We Could Have--and Should Have--Done
18: The Cure for the Banking Industry: Systematically Move Toward Pure Capitalism
19: Some Political Cures: Government Policy
20: Our Short-Term Path and How to End Unemployment
21: The Deepest Cause Is Philosophical
22: The Cure Is Also Philosophical
23: How the United States Could Go Broke
24: The Need for Principled Action
25: Conclusion
Notes
Index
Acknowledgments
Introduction
1: Fundamental Themes
2: What Happened?
3: Government Monetary Policy: The Fed as the Primary Cause
4: FDIC Insurance: The Background Cause
5: Government Housing Policy: The Proximate Cause
6: The Essential Role of Banks in a Complex Economy: The Liquidity Challenge
7: The Residential Real-Estate-Market Bubble and Financial-Market Stress
8: Failure of the Rating Agencies: The Subprime Mortgage Market and Its Impact on Capital Markets
9: Pick-a-Payment Mortgages: A Toxic Product of FDIC Insurance Coverage
10: How Freddie and Fannie Grew to Dominate the Home Mortgage Lending Business
11: Fair-Value Accounting and Wealth Destruction
12: Derivatives and Shadow Banking: A Misunderstanding
13: The Myth that "Deregulation" Caused the Financial Crisis
14: How the SEC Made Matters Worse
15: Market Corrections Are Necessary, but Panics Are Destructive and Avoidable
16: TARP (Troubled Asset Relief Program)
17: What We Could Have--and Should Have--Done
18: The Cure for the Banking Industry: Systematically Move Toward Pure Capitalism
19: Some Political Cures: Government Policy
20: Our Short-Term Path and How to End Unemployment
21: The Deepest Cause Is Philosophical
22: The Cure Is Also Philosophical
23: How the United States Could Go Broke
24: The Need for Principled Action
25: Conclusion
Notes
Index
Acknowledgments
WHAT HAVE WE LEARNED FROM THE FINANCIAL CRISIS?NOTHING.
The informative bestseller that shows us where our economy went wrong—and what we can do about it—with a timely new introduction.
One of the most important books to emerge from the 2008 economic crisis, this powerful wake-up call from financial expert John Allison has become a classic in the field. Now, in light of emerging global trends and shakeups in the stock market, the book’s message is more timely than ever: The government should stop trying to fix our economy. The free market is our best and only hope. In this eye-opening book, Allison reveals:
• How the Federal Reserve has even more power than before the Great Recession—and why this is a problem.
• How Wall Street has been wrongly blamed for our slow economic recovery—and why it’s Washington’s fault.
• How government regulations like Dodd Frank have burdened banks—and stifled growth.
• How socialized medicine and entitlements drive up costs—and how government policies exacerbate unemployment and income inequality.
• Why free market capitalism offers a proven cure for our economy—and how to make it work for all Americans.
The informative bestseller that shows us where our economy went wrong—and what we can do about it—with a timely new introduction.
One of the most important books to emerge from the 2008 economic crisis, this powerful wake-up call from financial expert John Allison has become a classic in the field. Now, in light of emerging global trends and shakeups in the stock market, the book’s message is more timely than ever: The government should stop trying to fix our economy. The free market is our best and only hope. In this eye-opening book, Allison reveals:
• How the Federal Reserve has even more power than before the Great Recession—and why this is a problem.
• How Wall Street has been wrongly blamed for our slow economic recovery—and why it’s Washington’s fault.
• How government regulations like Dodd Frank have burdened banks—and stifled growth.
• How socialized medicine and entitlements drive up costs—and how government policies exacerbate unemployment and income inequality.
• Why free market capitalism offers a proven cure for our economy—and how to make it work for all Americans.