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Author Smith, Yves.

Title ECONned : how unenlightened self interest damaged democracy and corrupted capitalism / Yves Smith.

Imprint New York : Palgrave Macmillan, 2010.


Location Call No. OPAC Message Status
 Axe 3rd Floor Stacks  330.973 Sm68e 2010    ---  Available
Edition 1st ed.
Description 362 p. : ill. ; 25 cm.
Bibliography Includes bibliographical references (p. [355]-357) and index.
Contents The sorcerer's apprentices -- Blinded by science -- The voodo of financial economics -- Neoclassical economics: the triumph of elegant math over messy facts -- How "free markets" was sold -- The sorcerer's apprentice (needs to be renamed) -- How deregulation led to predation -- It's not the bubbles, it's the leverage -- Looting v. 2.0: the doomsday machines -- Houston, we have a problem.
Summary "In ECONned, Yves Smith draws a direct connection between fundamentally flawed financial theories and a series of crises that culminated in the global meltdown of 2007 and 2008. This devastating critique shows that the pursuit of unenlightened self interest has produced a financial services industry that is a doomsday machine, systematically predatory, and now hugely powerful thanks to its control of vital financial infrastructure." "This is the first book to put the financial crisis in its proper context, as not merely a subprime mortgage meltdown, but the inevitable culmination of a process building over decades yet endorsed by mainstream economists and enabled by their flawed precepts."--BOOK JACKET.
Subject United States -- Economic conditions -- 21st century.
United States -- Economic policy.
Financial crises -- United States -- History -- 21st century.
Economics -- United States -- History.
Neoclassical school of economics.
Free enterprise -- United States -- History.
ISBN 9780230620513 (alk. paper)
0230620515 (alk. paper)

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