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Genesis of the Financial Crisis R. Macdonald

Genesis of the Financial Crisis By R. Macdonald

Genesis of the Financial Crisis by R. Macdonald


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Summary

A complete and accessible explanation of the factors contributing to the onset of the 2007 financial and economic crisis. The myriad factors are explained in an orderly way with simple terms. The anticipation (or not) and reception of the crisis by mainstream economists and by Austrian economics leads to reflection on the state of economic theory.

Genesis of the Financial Crisis Summary

Genesis of the Financial Crisis by R. Macdonald

A complete and accessible explanation of the factors contributing to the onset of the 2007 financial and economic crisis. The myriad factors are explained in an orderly way with simple terms. The anticipation (or not) and reception of the crisis by mainstream economists and by Austrian economics leads to reflection on the state of economic theory.

About R. Macdonald

RODERICK MACDONALD is a professor of Management and Technology at the Ecole des sciences de la gestion (UQAM), Canada. He has published books and articles on business strategy in new industries, fundamental economic notions used in business and moral analysis in management.

Table of Contents

Foreword and Acknowledgements PART I: THE CRISIS OF 2007-2010 The Nature and Effects of the 2007-2010 Crisis and Ways to Resolve It The Nature of the 2007 Financial Crisis An Overview of the 'Financial Sector' Was this a Crisis for Everyone? Some Effects of the Toxic Assets First Effect: Difficulties in Routine Economic Transactions Second Effect: Shrinkage of Habitual Sources of Financing Third Effect: Deflation Why we should Care: What Happens if there is No Bailout -the Mainstream View An Alternative View on the Crisis: Austrian Economics PART II: THE GENESIS OF THE CRISIS The Roots of the Crisis Some Basics About Shelter and Home Ownership The Historical Context The Mechanics of the Crisis Investment Banking and Various Fund Managers Mortgages and the Hierarchy of Markets: from Construction to Mortgage Backed Securities Securitization Imperfections Three Chronologies and the Genesis of the 2007-2010 Crisis Overview Chronology of U.S. Government Interventions in Housing Spasms in US Housing The ABCP (Securitization) Bubble that Preceded the 2007 Financial Crisis Securities The Ball of Yarn Unravels Conclusion PART III: REMEDIES AND REPARTEE The Crisis Response of the Main Actors: Ben Bernanke and Timothy Geithner A Survey of Opinions 1 - Saltwater Economists Saltwater Economist Number One: Paul Krugman Saltwater Economist Number Two: Joseph Stiglitz A survey of Opinions 2 - Freshwater Economists and Austrian Economists Introduction Freshwater Economist Number One: Luigi Zingales Freshwater Economist Number Two: John Cochrane Austrian Economists Austrian Economists on the Bailout Peter Schiff on Stimulus Popular Opinion Rather than a Conclusion, more Questions Analysis: What Economists Saw Action: What Economists Proposed Bibliography Index

Additional information

NLS9781349334735
9781349334735
1349334731
Genesis of the Financial Crisis by R. Macdonald
New
Paperback
Palgrave Macmillan
2012-01-01
178
N/A
Book picture is for illustrative purposes only, actual binding, cover or edition may vary.
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