REDEFINAMOS
LA ECONOMIA
REDEFINAMOS
LA ECONOMIA
… y recibirás contenido personalizado
según tus intereses en tu bandeja de entrada

Leveraged – The New Economics of Debt and Financial Fragility

Moritz Schularick
University of Chicago Press, 2022
Level: expert
Perspective: Institutionalist Economics, Post-Keynesian Economics
Topic: Crises, Criticism of Capitalism, Economic History, Macroeconomics, Money & Debt, Reflection of Economics
page count: 309 pages
ISBN: 9780226816937

Blurb

An authoritative guide to the new economics of our crisis-filled century. 

The 2008 financial crisis was a seismic event that laid bare how financial institutions’ instabilities can have devastating effects on societies and economies. COVID-19 brought similar financial devastation at the beginning of 2020 and once more massive interventions by central banks were needed to heed off the collapse of the financial system. All of which begs the question: why is our financial system so fragile and vulnerable that it needs government support so often? 

For a generation of economists who have risen to prominence since 2008, these events have defined not only how they view financial instability, but financial markets more broadly. Leveraged brings together these voices to take stock of what we have learned about the costs and causes of financial fragility and to offer a new canonical framework for understanding it. Their message: the origins of financial instability in modern economies run deeper than the technical debates around banking regulation, countercyclical capital buffers, or living wills for financial institutions. Leveraged offers a fundamentally new picture of how financial institutions and societies coexist, for better or worse.  

The essays here mark a new starting point for research in financial economics. As we muddle through the effects of a second financial crisis in this young century, Leveraged provides a road map and a research agenda for the future.

This material has been suggested and edited by:

Donar

Este proyecto es presentado por la Network for Pluralist Economics (Netzwerk Plurale Ökonomik e.V.) y socios internacionales.  Está comprometida con la diversidad y la independencia y depende de las donaciones de personas como tú. Donaciones regulares o puntuales serán muy apreciadas!

 

Donar