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The Cost of Capitalism: Understanding Market Mayhem…by Robert J. Barbera (HC)
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Condition:
Very Good
A book that has been read but is in excellent condition. No obvious damage to the cover, with the dust jacket included for hard covers. No missing or damaged pages, no creases or tears, and no underlining/highlighting of text or writing in the margins. May be very minimal identifying marks on the inside cover. Very minimal wear and tear.
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Free local pickup from Englewood, New Jersey, United States.
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US $5.22 (approx S$ 6.73) USPS Media MailTM.
Located in: Englewood, New Jersey, United States
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Estimated between Wed, 8 Oct and Wed, 15 Oct to 94104
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eBay item number:266373464343
Item specifics
- Condition
- Series
- NA
- Unit Type
- Unit
- Educational Level
- Adult & Further Education, High School, Vocational School
- Personalized
- No
- Features
- 1st Edition, Dust Jacket
- Level
- Beginner, Technical, Business, Proficiency, Advanced, Intermediate
- MPN
- NA
- Country/Region of Manufacture
- United States
- Unit Quantity
- 1
- California Prop 65 Warning
- NA
- ISBN
- 9780071628440
About this product
Product Identifiers
Publisher
Mcgraw-Hill Education
ISBN-10
0071628444
ISBN-13
9780071628440
eBay Product ID (ePID)
71637892
Product Key Features
Number of Pages
240 Pages
Publication Name
Cost of Capitalism: Understanding Market Mayhem and Stabilizing Our Economic Future
Language
English
Subject
Training, Decision-Making & Problem Solving, Public Policy / Economic Policy
Publication Year
2009
Type
Textbook
Subject Area
Political Science, Business & Economics
Format
Hardcover
Dimensions
Item Height
0.9 in
Item Weight
18.9 Oz
Item Length
9.3 in
Item Width
6.4 in
Additional Product Features
Intended Audience
Scholarly & Professional
LCCN
2010-277061
Dewey Edition
22
TitleLeading
The
Illustrated
Yes
Dewey Decimal
330.973
Table Of Content
Intro Section I 1.The Market is the Message 2.How Much Risk Is Too Much Risk? 3.Hyman Minsky, A Lefty Who Had It Right Section II: Asset Market Upheaval: The Cycle Driver for the Past 20 Years 4.Not Iraq and Tanks, Debt and Banks, the 1990 Recession 5: Tulips in Tokyo: The Asset Inflation/Deflation That Consigned Japan to a Lost Decade 6: The Asian Contagion: What Went Up Went Down, With a Vengeance! 7: The 2000 Recession, From Brave New World Boom to Wild Technology Share Price Bust 8: The Spectacular Slide For House Prices, Consumer Purchasing Power, the 2008 Recession Section III: Concluding Observations 9: Mainstream Economics: A Slavish Devotion To Rational Market Theories 10: The Politics of Economics: Confusing Free Market Triumph with free market infallibility 11: The Punch Line: Embrace Capitalism but don't forget the seat belts and the air bags
Synopsis
A Street economist's strategy for managing market madness "A punchy and relevant book on our present distress that has, at its core, one very big and useful idea." Portfolio "Heeding the lessons of the last few years, as documented in this book, may help both financiers and government policy makers find ways to reduce some future costs of capitalism without sacrificing all the potential rewards." The New York Times " Barbera] challenges the blind faith in free markets." The Economist "Barbera ... is] one of the few commentators actually saying something interesting and innovative about the crisis." Asia Times " The Cost of Capitalism is a must-read and a thoroughly enjoyable one--for those who want to understand the Crisis of 2008 and hammer out a new framework for decision making." Jared L. Cohon, President, Carnegie Mellon University "Readers who absorb the lessons of this book will be armed with more than mere technique; they will acquire an attitude that will make them better investors for the rest of their lives." Paul DeRosa, Principal, Mt. Lucas Management Corp. " The Cost of Capitalism translates the economic diagnoses and theories of my father, Hyman Minsky. It captures the vivacity of a post dinner conversation not coincidentally my father's favorite forum for elaborating, educating, and entertaining." Diana Minsky, Art Historian, Bard College "Lucid, intriguing, brilliant Barbera combines the uncertainty and speculation of Keynes with Schumpeter's "Creative Destruction" and Hy Minsky's "Deflationary Destruction" into a tasty stew." James R. Schlesinger, former Director, Central Intelligence Agency "Long ago, Bob taught me that if you don't know Minsky, you don't know nothing. This work shows the path out of nothingness." Paul A. McCulley, Chief Investment Officer, Pacific Investment Management Company "Barbera's recommendations are profound in their simplicity. Let us hope Wall Street, Main Street, Washington, and academia embrace them." Jack Rivkin, former Chief Investment Officer, Neuberger Berman "This is truly an extraordinary book that should be of great interest to an extremely wide audience from Wall Street practitioners to economics and finance scholars." Louis Maccini, Professor of Economics, Johns Hopkins University From the panic of 1987 to the tech-bubble burst of 2000, the past two decades have witnessed a series of financial crises, each more disruptive than the last. Unfortunately, they all seem like dress rehearsal for today's debacle. In hindsight, the precipitating factors responsible for each crisis seem clear, yet, in every case, mainstream economists and policy makers were caught off guard. Why didn't they see it coming? What should they have known but didn't? And, most critically, how must they adjust their thinking going forward? In the Cost of Capitalism , Robert Barbera provides compelling answers to all these questions. In the process, he offers the most cogent analysis yet of today's crisis and explains how to manage the ever present potential for mayhem intrinsic to free market economies without stunting innovation and growth. At the core of Barbera's thinking are three assumptions: first, boom and bust cycles have been stoked since 1985 by finance, not inflation; second, Main Street stability paradoxically invites excessive risk taking on Wall Street; and last, these things set the stage for small setbacks to deliver cataclysmic consequences. Barbera applauds current efforts to unabashedly infuse public money into the global economy. It's the only way, he says, to prevent another Great Depression. And, looking beyond the crisis of the moment, Barbera contends that mainstream thinkers need to form a new economic par, CNBC regular Robert J. Barbera offers a crystal clear explanation of the financial market crisis of 2008 While mainstream financial analysts are stringing together ad hoc explanations for the financial crisisof 2008, a relatively small group of economists saw this coming. In The Cost of Capitalism , Robert J.Barbera explains why. Barbera makes the case that investors and policy-makers can reduce the risk of truly gruesome outcomes if they better planfor the violent economic storms, which history confirms are always over the horizon. Investors will learn how to gird themselves for the roller-coaster ride that is free market capitalism;policy makers will find out how to plan for crises they know will occur at some point; and academiceconomists will rethink their pursuit of ever more elaborate mathematical models that bear noresemblance to the real world. The message is simple: Stop pretending that people are always rational and that markets are alwaysefficient--and be prepared for market mayhem.
LC Classification Number
HB3722
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