Out of crisis : rethinking our financial markets / David A. Westbrook.

Format:

Book

Author/Creator:

Westbrook, David A.

Language:

English

Subjects (All):

Financial crises--United States--History--21st century.

Financial crises.

Finance--Government policy--United States--History--21st century.

Finance.

Finance--Government policy.

History.

United States.

Physical Description:

xix, 155 pages ; 23 cm

Place of Publication:

Boulder : Paradigm Publishers, [2010]

Summary:

Former Federal Reserve chair Alan Greenspan recently said that the risk management paradigm is broken; thus our understanding of financial regulation no longer makes sense. More generally, the recent financial crisis obliges us to rethink the relationships among "financial markets" and "governments."

In Out of Crisis financial analyst David Westbrook illuminates the intellectual, business, and policy errors that have led us into the present morass. Through a vivid legal and political analysis he shows how the ideologies of the right and left have distorted financial thinking and policy. The book sketches the emergence of a new understanding of risk management and bureaucratic regulation that can be gained by learning from these errors. Out of Crisis begins the tasks of rethinking the structures that constitute financial markets and exploring how such structures may be strengthened. By taking responsibility for the markets we build to do so much of our society's work, we may yet become mature capitalists.

Contents:

An introduction to the argument

The suddenly obvious and the already decided

Melodramatic narratives

Blue water : the allure of modern finance

Tragedy and law

Policy thought, regulation, and innovation

Constructing healthy markets

Metaphors for thinking socially about capitalism

Restoring confidence after a crash

Confronting systemic risk

The old questions, the old answers

Conclusion : fears and other possibilities.

Notes:

"Great Barrington books"--P. facing t.p.

Includes bibliographical references and index.

ISBN:

9781594517266

1594517266

9781594517273

1594517274

OCLC:

320192501