A Primer on Financial System Meltdown. The Economists' View
AbstractIdeologues are quick to explain the current financial meltdown: it's the markets, stupid. Economists agree but add: it's politics too, stupid. Ideologues agree but counter: first and foremost it's capitalism, stupid. Economists agree but reply: §$%&?!, stupid. This is where this short paper takes us: it makes an attempt to give a brief overview of the economists' views on the ongoing financial system crisis explaining "§$%&?!, stupid".
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Bibliographic InfoPaper provided by WIFO in its series WIFO Working Papers with number 333.
Length: 16 pages
Date of creation: 01 Dec 2008
Date of revision:
financial system crisis; systemic risk; macroeconomic stability; financial regulation;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-01-03 (All new papers)
- NEP-HPE-2009-01-03 (History & Philosophy of Economics)
- NEP-REG-2009-01-03 (Regulation)
- NEP-RMG-2009-01-03 (Risk Management)
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