Rethinking the Financial Crisis
June 3, 2013
Some economic events are so major and unsettling that they “change everything.” Such is the case with the financial crisis that started in the summer of 2007 and is still a drag on the world economy. Yet enough time has now elapsed for economists to consider questions that run deeper than the usual focus on the immediate causes and consequences of the crisis. How have these stunning events changed our thinking about the role of the financial system in the economy, about the costs and benefits of financial innovation, about the efficiency of financial markets, and about the role the government should play in regulating finance? In Rethinking the Financial Crisis, some of the nation’s most renowned economists share their assessments of particular aspects of the crisis and reconsider the way we think about the financial system and its role in the economy.
Rethinking the Financial Crisis, edited by Robert M. Solow, Alan S. Blinder, and Andrew W. Lo. New York : Russell Sage Foundation, 2012. 356 p. ISBN 9780871548108 (pbk.)
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