Political Bubbles : : Financial Crises and the Failure of American Democracy / / Nolan McCarty, Howard Rosenthal, Keith T. Poole.
Behind every financial crisis lurks a "political bubble"--policy biases that foster market behaviors leading to financial instability. Rather than tilting against risky behavior, political bubbles--arising from a potent combination of beliefs, institutions, and interests--aid, abet, and am...
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Place / Publishing House: | Princeton, NJ : : Princeton University Press, , [2013] ©2013 |
Year of Publication: | 2013 |
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McCarty, Nolan, author. aut http://id.loc.gov/vocabulary/relators/aut Political Bubbles : Financial Crises and the Failure of American Democracy / Nolan McCarty, Howard Rosenthal, Keith T. Poole. Course Book Princeton, NJ : Princeton University Press, [2013] ©2013 1 online resource (368 p.) : 3 halftones. 26 line illus. 11 tables. text txt rdacontent computer c rdamedia online resource cr rdacarrier text file PDF rda Frontmatter -- Contents -- Acknowledgments -- Introduction -- Part I: The Political Bubble. Why Washington Allows Financial Crises to Occur -- Chapter 1. Bubble Expectations -- Chapter 2. Ideology -- Chapter 3. Interests -- Chapter 4. Institutions -- Chapter 5. The Political Bubble of the Crisis of 2008 -- Part II. Pops. Why Washington Delays in Solving Financial Crises -- Chapter 6. Historical Lessons of the Responses to Pops -- Chapter 7. The Pop of 2008 -- Chapter 8. "Pop"ulism -- Chapter 9 . How to Waste a Crisis -- Epilogue -- Notes -- Bibliography -- Name Index -- Subject Index restricted access http://purl.org/coar/access_right/c_16ec online access with authorization star Behind every financial crisis lurks a "political bubble"--policy biases that foster market behaviors leading to financial instability. Rather than tilting against risky behavior, political bubbles--arising from a potent combination of beliefs, institutions, and interests--aid, abet, and amplify risk. Demonstrating how political bubbles helped create the real estate-generated financial bubble and the 2008 financial crisis, this book argues that similar government oversights in the aftermath of the crisis undermined Washington's response to the "popped" financial bubble, and shows how such patterns have occurred repeatedly throughout US history. The authors show that just as financial bubbles are an unfortunate mix of mistaken beliefs, market imperfections, and greed, political bubbles are the product of rigid ideologies, unresponsive and ineffective government institutions, and special interests. Financial market innovations--including adjustable-rate mortgages, mortgage-backed securities, and credit default swaps--become subject to legislated leniency and regulatory failure, increasing hazardous practices. The authors shed important light on the politics that blinds regulators to the economic weaknesses that create the conditions for economic bubbles and recommend simple, focused rules that should help avoid such crises in the future. The first full accounting of how politics produces financial ruptures, Political Bubbles offers timely lessons that all sectors would do well to heed. Issued also in print. Mode of access: Internet via World Wide Web. In English. Description based on online resource; title from PDF title page (publisher's Web site, viewed 29. Jul 2021) Financial crises United States History 21st century. Global Financial Crisis, 2008-2009 Political aspects. POLITICAL SCIENCE / History & Theory. bisacsh Poole, Keith T., author. aut http://id.loc.gov/vocabulary/relators/aut Rosenthal, Howard, author. aut http://id.loc.gov/vocabulary/relators/aut Title is part of eBook package: De Gruyter Princeton University Press eBook-Package Backlist 2000-2013 9783110442502 print 9780691145013 https://doi.org/10.1515/9781400846399?locatt=mode:legacy https://www.degruyter.com/isbn/9781400846399 Cover https://www.degruyter.com/cover/covers/9781400846399.jpg |
language |
English |
format |
eBook |
author |
McCarty, Nolan, McCarty, Nolan, Poole, Keith T., Rosenthal, Howard, |
spellingShingle |
McCarty, Nolan, McCarty, Nolan, Poole, Keith T., Rosenthal, Howard, Political Bubbles : Financial Crises and the Failure of American Democracy / Frontmatter -- Contents -- Acknowledgments -- Introduction -- Part I: The Political Bubble. Why Washington Allows Financial Crises to Occur -- Chapter 1. Bubble Expectations -- Chapter 2. Ideology -- Chapter 3. Interests -- Chapter 4. Institutions -- Chapter 5. The Political Bubble of the Crisis of 2008 -- Part II. Pops. Why Washington Delays in Solving Financial Crises -- Chapter 6. Historical Lessons of the Responses to Pops -- Chapter 7. The Pop of 2008 -- Chapter 8. "Pop"ulism -- Chapter 9 . How to Waste a Crisis -- Epilogue -- Notes -- Bibliography -- Name Index -- Subject Index |
author_facet |
McCarty, Nolan, McCarty, Nolan, Poole, Keith T., Rosenthal, Howard, Poole, Keith T., Poole, Keith T., Rosenthal, Howard, Rosenthal, Howard, |
author_variant |
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author_role |
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author2 |
Poole, Keith T., Poole, Keith T., Rosenthal, Howard, Rosenthal, Howard, |
author2_variant |
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VerfasserIn VerfasserIn VerfasserIn VerfasserIn |
author_sort |
McCarty, Nolan, |
title |
Political Bubbles : Financial Crises and the Failure of American Democracy / |
title_sub |
Financial Crises and the Failure of American Democracy / |
title_full |
Political Bubbles : Financial Crises and the Failure of American Democracy / Nolan McCarty, Howard Rosenthal, Keith T. Poole. |
title_fullStr |
Political Bubbles : Financial Crises and the Failure of American Democracy / Nolan McCarty, Howard Rosenthal, Keith T. Poole. |
title_full_unstemmed |
Political Bubbles : Financial Crises and the Failure of American Democracy / Nolan McCarty, Howard Rosenthal, Keith T. Poole. |
title_auth |
Political Bubbles : Financial Crises and the Failure of American Democracy / |
title_alt |
Frontmatter -- Contents -- Acknowledgments -- Introduction -- Part I: The Political Bubble. Why Washington Allows Financial Crises to Occur -- Chapter 1. Bubble Expectations -- Chapter 2. Ideology -- Chapter 3. Interests -- Chapter 4. Institutions -- Chapter 5. The Political Bubble of the Crisis of 2008 -- Part II. Pops. Why Washington Delays in Solving Financial Crises -- Chapter 6. Historical Lessons of the Responses to Pops -- Chapter 7. The Pop of 2008 -- Chapter 8. "Pop"ulism -- Chapter 9 . How to Waste a Crisis -- Epilogue -- Notes -- Bibliography -- Name Index -- Subject Index |
title_new |
Political Bubbles : |
title_sort |
political bubbles : financial crises and the failure of american democracy / |
publisher |
Princeton University Press, |
publishDate |
2013 |
physical |
1 online resource (368 p.) : 3 halftones. 26 line illus. 11 tables. Issued also in print. |
edition |
Course Book |
contents |
Frontmatter -- Contents -- Acknowledgments -- Introduction -- Part I: The Political Bubble. Why Washington Allows Financial Crises to Occur -- Chapter 1. Bubble Expectations -- Chapter 2. Ideology -- Chapter 3. Interests -- Chapter 4. Institutions -- Chapter 5. The Political Bubble of the Crisis of 2008 -- Part II. Pops. Why Washington Delays in Solving Financial Crises -- Chapter 6. Historical Lessons of the Responses to Pops -- Chapter 7. The Pop of 2008 -- Chapter 8. "Pop"ulism -- Chapter 9 . How to Waste a Crisis -- Epilogue -- Notes -- Bibliography -- Name Index -- Subject Index |
isbn |
9781400846399 9783110442502 9780691145013 |
callnumber-first |
H - Social Science |
callnumber-subject |
HB - Economic Theory and Demography |
callnumber-label |
HB3717 2008 |
callnumber-sort |
HB 43717 42008 M34 42013 |
geographic_facet |
United States |
era_facet |
21st century. |
url |
https://doi.org/10.1515/9781400846399?locatt=mode:legacy https://www.degruyter.com/isbn/9781400846399 https://www.degruyter.com/cover/covers/9781400846399.jpg |
illustrated |
Illustrated |
dewey-hundreds |
300 - Social sciences |
dewey-tens |
330 - Economics |
dewey-ones |
330 - Economics |
dewey-full |
330.973/0931 |
dewey-sort |
3330.973 3931 |
dewey-raw |
330.973/0931 |
dewey-search |
330.973/0931 |
doi_str_mv |
10.1515/9781400846399?locatt=mode:legacy |
oclc_num |
979624324 |
work_keys_str_mv |
AT mccartynolan politicalbubblesfinancialcrisesandthefailureofamericandemocracy AT poolekeitht politicalbubblesfinancialcrisesandthefailureofamericandemocracy AT rosenthalhoward politicalbubblesfinancialcrisesandthefailureofamericandemocracy |
status_str |
n |
ids_txt_mv |
(DE-B1597)474143 (OCoLC)979624324 |
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cr |
hierarchy_parent_title |
Title is part of eBook package: De Gruyter Princeton University Press eBook-Package Backlist 2000-2013 |
is_hierarchy_title |
Political Bubbles : Financial Crises and the Failure of American Democracy / |
container_title |
Title is part of eBook package: De Gruyter Princeton University Press eBook-Package Backlist 2000-2013 |
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