This book asks a fundamental question, that is, whether 'somebody in charge' could have prevented or solved the problem leading up to our current financialcrisis. This book explores and answers that question from a scholarly and academic economic viewpoint. PIERRE LEMIEUX is a Research Fellow at The Independent Institute, Professor of Economics at the Université du Québec en Outaouais (Canada), and co-chairman of the GREL (Groupe de Recherche Économie et Liberté). INDICE: Introduction: Adult Supervision - PART I: THE LIMITS OF AUTHORITY - Social Complexity - The Impossibility of Planning - The Inconvenient Individual - The Tribe and the Great Society - PART II: ARE RECESSIONS POSSIBLE? - Business Cycles and Crashes - An Economist in Wonderland - Classical Economics- Recessions Happen - PART III: MACROECONOMIC CONTROVERSIES - The Old Idea of Underconsumption - Keynes's Ideas: A Brief Summary - Price Adjustments - Multiplying Bread and Fish - Meaningless Aggregates - Information and Coordination - Government Activism - More Recent Theories of the Business Cycle - PART IV: THE MIXED ECONOMY - A Failure of Capitalism? - Government Revenues and Expenditures - Regulation and Control - The Welfare State - Businessmen as Domestic Animals - PART V: FINANCIAL DEREGULATION: AN URBAN LEGEND - Lax Regulation -Deregulation - U.S. Banks in a World Perspective - Necessary Regulation? - PART VI: THE CRIME SCENE: ENVY OF THE WORLD - Residential Home Market Driven byGovernment - A Half-nationalized Residential Mortgage Market - Securitization- Subsidization of Risk - The Collapse of the House of Cards - Larger Consequences - PART VII: MONETARY MEDDLING - The Austrian Theory of the Business Cycle - Some Doubts on the Austrian Interpretation of the Crisis - Monetary PolicyPlayed a Role - On Balance: A Contributing Factor - PART VIII: STATE ANIMAL SPIRITS - State Greed - Faddish Behavior and State Bubbles - Regulatory failure- Collectivism - Power and Hubris - Systemic risk - Conclusion: Something Must Be Done - Bibliography - Name Index - Topics Index - Charts
- ISBN: 978-0-230-11269-8
- Editorial: Palgrave MacM
- Encuadernacion: Cartoné
- Páginas: 220
- Fecha Publicación: 04/03/2011
- Nº Volúmenes: 1
- Idioma: Desconocido