Boom and Bust Banking

The Causes and Cures of the Great Recession

384 Seiten, Taschenbuch

Kurzbeschreibung des Verlags

Exploring the forceful renewal of the boom-and-bust cycle after several decades of economic stability, this book is a research-based review of the factors that caused the 2008 recession. It offers cutting-edge diagnoses of the recession and prescriptions on how to boost the economy from leading economists.> As commentators weigh the culpability of Wall Street’s banks against Washington’s regulators, the authors return our attention to the unique position of the Federal Reserve in recent economic history. Expansionary monetary policy formed the basis of the soaring housing prices, excessive leverage, and mispricing of risk that characterized the Great Boom and the conditions for recession. Yet as Boom and Bust Banking also explains, the Great Recession was not an inevitable result of the Great Boom. Contrary to the conventional wisdom, the Federal Reserve in fact tightened rather than loosened the money supply in the early days of the recession. Addressing a lack of critical studies of recent Federal Reserve policy, Boom and Bust Banking reveals the Federal Reserve’s hand in the economy’s deterioration from slowdown to global recession. At the close of the most destructive economic episode in a half-century, Boom and Bust Banking reconsiders the justifications for central banking and reflects on possibilities for reform. With the future ripe for new thinking, this volume is essential for policy makers and concerned citizens who wish to learn from recent history.

• ISBN: 9781598130768
• Sprache: Englisch
• Erscheinungsdatum: 01.10.2012
• Größe: 228 x 151 mm
• Verlag: Independent Institute
• Herausgegeben von: David Beckworth