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Author: Nicola Gennaioli
Publisher: Princeton University Press
ISBN: 0691202230
Category : Business & Economics
Languages : en
Pages : 264
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Book Description
"How investor expectations move markets and the economy. The collapse of Lehman Brothers in September 2008 caught markets and regulators by surprise. Although the government rushed to rescue other financial institutions from a similar fate after Lehman, it could not prevent the deepest recession in postwar history. A Crisis of Beliefs makes us rethink the financial crisis and the nature of economic risk. In this authoritative and comprehensive book, two of today's most insightful economists reveal how our beliefs shape financial markets, lead to expansions of credit and leverage, and expose the economy to major risks. Nicola Gennaioli and Andrei Shleifer carefully walk readers through the unraveling of Lehman Brothers and the ensuing meltdown of the US financial system, and then present new evidence to illustrate the destabilizing role played by the beliefs of home buyers, investors, and regulators. Using the latest research in psychology and behavioral economics, they present a new theory of belief formation that explains why the financial crisis came as such a shock to so many people--and how financial and economic instability persist. A must-read for anyone seeking insights into financial markets, A Crisis of Beliefs shows how even the smartest market participants and regulators did not fully appreciate the extent of economic risk, and offers a new framework for understanding today's unpredictable financial waters."--
Author: Nicola Gennaioli
Publisher: Princeton University Press
ISBN: 0691202230
Category : Business & Economics
Languages : en
Pages : 264
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Book Description
"How investor expectations move markets and the economy. The collapse of Lehman Brothers in September 2008 caught markets and regulators by surprise. Although the government rushed to rescue other financial institutions from a similar fate after Lehman, it could not prevent the deepest recession in postwar history. A Crisis of Beliefs makes us rethink the financial crisis and the nature of economic risk. In this authoritative and comprehensive book, two of today's most insightful economists reveal how our beliefs shape financial markets, lead to expansions of credit and leverage, and expose the economy to major risks. Nicola Gennaioli and Andrei Shleifer carefully walk readers through the unraveling of Lehman Brothers and the ensuing meltdown of the US financial system, and then present new evidence to illustrate the destabilizing role played by the beliefs of home buyers, investors, and regulators. Using the latest research in psychology and behavioral economics, they present a new theory of belief formation that explains why the financial crisis came as such a shock to so many people--and how financial and economic instability persist. A must-read for anyone seeking insights into financial markets, A Crisis of Beliefs shows how even the smartest market participants and regulators did not fully appreciate the extent of economic risk, and offers a new framework for understanding today's unpredictable financial waters."--
Author: Giovanni De Grandis, Anne Blanchard
Publisher: Walter de Gruyter GmbH & Co KG
ISBN: 311139932X
Category :
Languages : en
Pages : 227
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Book Description
Author: Charles W. Calomiris
Publisher: Princeton University Press
ISBN: 0691168350
Category : Business & Economics
Languages : en
Pages : 584
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Book Description
Why stable banking systems are so rare Why are banking systems unstable in so many countries—but not in others? The United States has had twelve systemic banking crises since 1840, while Canada has had none. The banking systems of Mexico and Brazil have not only been crisis prone but have provided miniscule amounts of credit to business enterprises and households. Analyzing the political and banking history of the United Kingdom, the United States, Canada, Mexico, and Brazil through several centuries, Fragile by Design demonstrates that chronic banking crises and scarce credit are not accidents. Calomiris and Haber combine political history and economics to examine how coalitions of politicians, bankers, and other interest groups form, why they endure, and how they generate policies that determine who gets to be a banker, who has access to credit, and who pays for bank bailouts and rescues. Fragile by Design is a revealing exploration of the ways that politics inevitably intrudes into bank regulation.
Author: Travis E. Ables
Publisher: Fordham University Press
ISBN: 0823298019
Category : Religion
Languages : en
Pages : 301
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Book Description
The Body of the Cross is a study of holy victims in Western Christian history and how the uses of their bodies in Christian thought led to the idea of the cross as a substitutionary sacrifice. Since its first centuries, Christianity has traded on the suffering of victims—martyrs, mystics, and heretics—as substitutes for the Christian social body. These victims secured holiness, either by their own sacred power or by their reprobation and rejection. Just as their bodies were mediated in eucharistic, social, and Christological ways, so too did the flesh of Jesus Christ become one of those holy substitutes. But it was only late in Western history that he took on the function of the exemplary victim. In tracing the story of this embodied development, The Body of the Cross gives special attention to popular spirituality, religious dissent, and the writing of women throughout Christian history. It examines the symbol of the cross as it functions in key moments throughout this history, including the parting of the ways of Judaism and Christianity, the gnostic debates, martyr traditions, and medieval affective devotion and heresy. Finally, in a Reformation era haunted by divine wrath, these themes concentrated in the unique concept that Jesus Christ died on the cross to absorb divine punishment for sin: a holy body and a rejected body in one.
Author: Martha C. Nussbaum
Publisher: Cambridge University Press
ISBN: 1107393779
Category : Philosophy
Languages : en
Pages : 587
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Book Description
This book is a study of ancient views about 'moral luck'. It examines the fundamental ethical problem that many of the valued constituents of a well-lived life are vulnerable to factors outside a person's control, and asks how this affects our appraisal of persons and their lives. The Greeks made a profound contribution to these questions, yet neither the problems nor the Greek views of them have received the attention they deserve. This book thus recovers a central dimension of Greek thought and addresses major issues in contemporary ethical theory. One of its most original aspects is its interrelated treatment of both literary and philosophical texts. The Fragility of Goodness has proven to be important reading for philosophers and classicists, and its non-technical style makes it accessible to any educated person interested in the difficult problems it tackles. This edition, first published in 2001, features a preface by Martha Nussbaum.
Author: David Luscombe
Publisher: Routledge
ISBN: 1351111892
Category : History
Languages : en
Pages : 317
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Book Description
These essays provide original reflections and new evidence for the lives and work of an outstanding medieval couple, Peter Abelard and Heloise. The main themes of the author's studies are the careers and the thought of Peter Abelard, his philosophy, theology and monastic teaching, his relationship in marriage and in religious life with Heloise and their correspondence. The essays, now brought together in a single volume, show how much is still to be learned from the presentation of new evidence and the opening of new enquiries about the lives and calamities of Peter Abelard and Heloise.
Author: Giovanni de Grandis
Publisher: Walter de Gruyter GmbH & Co KG
ISBN: 3111397718
Category : Business & Economics
Languages : en
Pages : 302
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Book Description
Attempts to steer research, innovation and business in desirable directions have failed to meet expectations. Corporate social responsibility (CSR) and responsible research and innovation (RRI) seem to be losing ground, while the challenges they sought to address remain. Despite their shortcomings, these concepts remind us of the need to take responsibility for what we as researchers and entrepreneurs bring into the world, and to keep questioning the given framework. Drawing from the experience of the AFINO project, a unique attempt to bring together RRI and CSR and to promote networks, learning and skills building in Norway, this book contextualises and explores the practical challenges of actualising responsible practices even in the propitious Norwegian context. Readers interested in RRI, CSR, transdisciplinarity, and in the governance of research and innovation will find extensive information and insights about the challenges of steering research and business practices towards desirable ends and how to address them.
Author: Sonja Grimm
Publisher: Routledge
ISBN: 1317625455
Category : Political Science
Languages : en
Pages : 163
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Book Description
This book investigates the emergence, the dissemination and the reception of the notion of ‘state fragility’. It analyses the process of conceptualisation, examining how the ‘fragile states’ concept was framed by policy makers to describe reality in accordance with their priorities in the fields of development and security. Contributors investigate the instrumental use of the ‘state fragility’ label in the legitimisation of Western policy interventions in countries facing violence and profound poverty. They also emphasise the agency of actors ‘on the receiving end’, describing how the elites and governments in so-called ‘fragile states’ have incorporated and reinterpreted the concept to fit their own political agendas. A first set of articles examines the role played by the World Bank, the OECD, the European Union and the G7+ in the transnational diffusion of the concept, which is understood as a critical element in the new discourse on international aid and security. A second set of papers employs three case studies (Sudan, Indonesia and Uganda) to explore the processes of appropriation, reinterpretation and the strategic use of the ‘fragile state’ concept. This book was originally published as a special issue of Third World Quarterly.
Author: Roy R. Neuberger
Publisher:
ISBN: 9780471357995
Category : Biography & Autobiography
Languages : en
Pages :
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Book Description
Author: Sophie Spieler
Publisher: transcript Verlag
ISBN: 3839457297
Category : Literary Criticism
Languages : en
Pages : 277
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Book Description
How does the US make sense of its elite educational system, given that it seems to be at odds with core American values, such as equality of opportunity or upward mobility? Sophie Spieler explores scholarly and journalistic investigations, self-representational texts, and fictional narratives revolving around the Ivy League and its peers in order to understand elite education and its peculiar position in American cultural discourse. Among the book's most surprising and groundbreaking insights is the tenacity and adaptability of meritocratic ideology across all three sub-discourses, despite its fundamental incompatibility with the American educational system.
