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The cover of Crisis Economics

Crisis Economics

Nouriel Roubini, Stephen Mihm

Was the biggest financial crisis since the Great Depression really impossible to foresee, or do such disasters keep returning?

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At a glance

Author
Nouriel Roubini, Stephen Mihm

Why read it

  • You will stop accepting the excuse that nobody could have seen a financial crisis coming, since clear warnings were given in advance
  • You will understand why calling a financial crash a once in a century storm ignores how often crippling panics have hit the United States
  • You will weigh the authors' warning that declining American power could make future crises more frequent and more severe

Who it is for

  • An investor rebuilding trust after watching a market crash
  • A student asking why economists missed the warning signs
  • A policy reader judging calls for tougher bank rules

Contents

  1. Introduction
  2. Creatures of Habit
  3. The Dark Ages
  4. The Not-So-Great Moderation
  5. Crisis Redux
  6. When Markets Behave Badly
  7. The Cradle of Crisis Economics
  8. The Long Shadow of John Maynard Keynes
  9. To Austria and Back
  10. The Uses of History
  11. Financial Innovation
  12. Moral Hazard
  13. Government and Its Discontents
  14. The Shadow Banks
  15. A World Awash in Cash
  16. The Lure of Leverage
  17. The Minsky Moment
  18. The Unraveling
  19. Fear of the Unknown
  20. Illiquid and Insolvent
  21. The Eye of the Storm
  22. The Reckoning
  23. The Center Cannot Hold
  24. Mere Anarchy Is Loosed upon the World
  25. Financing a Pandemic
  26. Disease Vectors
  27. Shared Excesses
  28. Emerging Economies, Existing Problems
  29. The Death of Decoupling
  30. Deflation and Its Discontents
  31. The Liquidity Trap
  32. Last Lender Standing
  33. Nuclear Options
  34. Conventional Fiscal Policy
  35. Let the Bailouts Begin
  36. A Capital Idea?
  37. Toxic Waste
  38. The Aftermath
  39. Curing Compensation
  40. Making Better Sausage
  41. Reforming Ratings
  42. Dealing with Derivatives
  43. Basel and Beyond
  44. The Coming Crisis
  45. Avoiding Arbitrage
  46. Enforcement and Coordination
  47. Quis Custodiet Ipsos Custodes?
  48. Breaking Up Is Hard to Do
  49. Glass-Steagall on Steroids
  50. Banishing Bubbles
  51. Accounting for the Current Account
  52. Lessons from Emerging-Market Crises
  53. Rashomon
  54. Dangers and Dilemmas
  55. The Decline of the Dollar
  56. The Almighty Renminbi?
  57. Global Governance
  58. The Road Ahead
  59. Conclusion
  60. Tragedy and Farce

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