Finance as a Positive Force
Robert J. Schiller. Finance and the Good Society. Princeton University Press, 2012, pp. 288, $24.95 The financial sector has gotten a bad rap of late. Indeed, as referenced in this recent work, the emergence of both the Tea Party, which argued against the massive taxpayer bailouts of large financial institutions, and the Occupy Wall Street [...]
Engineering the Financial Crisis: Systemic Risk and the Failure of Regulation. Jeffrey Friedman and Wladimir Kraus. University of Pennsylvania Press, 2011, pp.212, $45.00 The majority of individuals involved in the Occupy Wall Street (OWS) movement tend to blame Wall Street bankers for the financial crisis and the ensuing recession and high unemployment rates. By contrast, [...]
The Perils of Short-Term Thinking
Saving Capitalism From Short-Termism: How To Build Long-Term Value and Take Back Our Financial Future. Alfred Rappaport. McGraw-Hill 2011, pp.235, $30.00 Capitalism and the viability of the free market system are in crisis, perhaps to a degree not seen since the Great Depression. Protesters in New York City and other major American cities are rallying [...]
Fixing the Game: Bubbles, Crashes, and What Capitalism Can Learn from the NFL. Roger L. Martin. Harvard Business Review Press 2011, 251 pp. $24.95 Critics have blamed the financial crisis of 2007-09 on everything from greedy bankers and the deregulation of the financial sector to the policy of encouraging homeownership at all costs, even to [...]