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.
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United States -- Economic policy.
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Financial crises -- United States -- History -- 21st century.
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Economics -- United States -- History.
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Neoclassical school of economics.
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Free enterprise -- United States -- History.
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ISBN |
9780230620513 (alk. paper) |
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0230620515 (alk. paper) |
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