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Genre = Economics, Finance
Intriguing Connections = What Goes Into An Economic Crisis?
Bubbles, panics, and crisis occur because of an underestimation of unlikely events. Benefits of particular model, stock, or asset are promoted while their problems and limitations are ignored until after the panic. Anyone arguing against the espoused models or assets during their rise, becomes a claim against their own intelligence. Although some provide general contours of a future crisis, predicting the unexpected is fraught cautions. Many people claim to have seen the crises coming after the crisis, but wrote history books about the crisis rather than use their knowledge to make money. During some crises there are perpetrators. During other crises there are no perpetrators. The question is what can be learned about any given crisis, if anything can be learned at all.
This book showcases an anthology of articles before, during, and after four financial crisis which occurred late 1980s, late, late 1990s (Asian Crisis), early 2000s (Tech or Dot-Com Crisis), and the 2007-09 Crisis. Although the articles are by different people showing different ways to think about each crisis, it seems insufficient. The transition between each article is poor. To understand each crisis, if that is possible, would require alternative books about each.
•Why do crisis occur?
•Can a crisis be predicted?
•How do models shape financial decisions?
•Why do people claim to have seen a crisis coming?
•What are the views held before, during, and after each crisis?
Pages to read: 363
1st Edition: 2009
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