Why are we in such a financial mess today? There are lots of proximate causes: over-leverage, global imbalances, bad financial technology that lead to widespread underestimation of risk.

But these are all symptoms. Until we isolate and tackle fundamental causes, we will fail to extirpate the disease. ECONned is the first book to examine the unquestioned role of economists as policy-makers, and how they helped create an unmitigated economic disaster.

Here, Yves Smith looks at how economists in key policy positions put doctrine before hard evidence, ignoring the deteriorating conditions and rising dangers that eventually led them, and us, off the cliff and into financial meltdown. Intelligently written for the layman, Smith takes us on a terrifying investigation of the financial realm over the last twenty-five years of misrepresentations, naive interpretations of economic conditions, rationalizations of bad outcomes, and rejection of clear signs of growing instability.

In eConned, author Yves Smith reveals:

--why the measures taken by the Obama Administration are mere palliatives and are unlikely to pave the way for a solid recovery

--how economists have come to play a profoundly anti-democratic role in policy

--how financial models and concepts that were discredited more than thirty years ago are still widely used by banks, regulators, and investors

--how management and employees of major financial firms looted them, enriching themselves and leaving the mess to taxpayers

--how financial regulation enabled predatory behavior by Wall Street towards investors

--how economics has no theory of financial systems, yet economists fearlessly prescribe how to manage them

• We started tracking this book on January 20, 2011.
• This book was $14.99 when we started tracking it.
• The price of this book has changed 32 times in the past 5,377 days.
• The current price of this book is $2.99 last checked 9 hours ago.
• This book is at its lowest price in the past year.
• The lowest price to date was $1.99 last reached on January 15, 2024.
• This book has been $1.99 one time since we started tracking it.
• The highest price to date was $14.99 last reached on January 20, 2011.
• This book has been $14.99 one time since we started tracking it.

• HistoryAmericasUnited States21st Century
• Business & MoneyInternationalEconomics
• Business & MoneyEconomicsFree Enterprise
• HistoryAmericas
• HistoryUnited States21st Century

• Publication Date: February 19, 2010
• Text-to-Speech: Disabled
• Lending: Disabled
• Print Length: 369 Pages
• File Size: 28 KB