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More copies of this ISBN:Subprime Solution: How Today's Global Financial Crisis Happenedby Robert Shiller
Synopses & ReviewsReview:Yale University's Robert Shiller is one of the world's outstanding economic thinkers and intellectual innovators, with a record of foresight that is the envy of his profession. . . . His short, snappy and surprisingly far-reaching book on the subprime crisis is as interesting and indispensible as you would expect. . . . is an ambitious little volume. . . . It covers a remarkable amount of ground in less than 200 pages. . . . . [T]he book's broad framing of the issues is novel and valuable, and its arguments are always stimulating. . . . Shiller . . . is an ardent financial-technology optimist, and his book is a torrent of fascinating ideas. Anybody interested in the subject must profit from reading it. Review:Robert Shiller is a visionary. Review:If you're unfamiliar with Robert Shiller then understand that he is perhaps the most eminent and considered examiner of modern investment bubbles. . . . Shiller's new book, , is a concise attempt to elaborate in just seven short chapters the genesis of the housing bubble, explode its myths, explore its scale and the dangers of its deepening impact, assert the need to maintain confidence in our economic and financial institutions by aggressive action, and then explore longer-term, more fundamental reforms and innovations that will create a population much more attuned to economic risk.... There are many more recommendations, but if this book has the ambition of Keynes' earlier work, and the scale of the problem is as suggested, I'd argue that the book is as accessible as you are going to get from such a modern behavioural economics guru. It's a book that everyone who lives in a house should own; just don't buy ten and try to rent them out to friends. Review:In [The Subprime Solution], he provides the ignoramuses on Wall Street, asleep-at-the-switch regulators and dumbfounded investors worried about their savings with a stark insight to digest over the last two weeks of summer: 'We as a society do not understand or know how to deal with speculative bubbles.' Review:[is] a lucid primer on how we slipped into this money pit and what it might take to clamber out of it. . . . Shiller is sometimes called a Cassandra, and his prophesies about the dot-com and housing bubbles did come true. Yet in these pages he sounds more like a visionary optimist who considers today's emergency to be a grand opportunity. Review:In , he argues that what united the missteps by the Federal Reserve, mortgage brokers, Wall Street bankers, and home buyers that together brought on the current financial mess was a shared belief that house prices never go down. What's the antidote to that kind of mass delusion? Shiller seems to have no interest in substituting his judgment, or the government's, for the market's. Instead, he sees information and innovation as the counter to group think. Review:Like the financial bubble in technology stocks that exploded in 2000, real estate investors acted on unrealistic assumptions that prices could only go up. In the aftermath, Shiller's recommendation to policy makers is 'Mend It, Don't End It.' He advises regulatory modifications and greater financial disclosure from all players in the complex mortgage-banking process. Review:Robert Shiller's got an argument that will make some peoples' heads explode in his new book --we need more speculation in the housing market. . . . I said above that this solution will make some peoples' heads explode, that the solution to an excess of speculation is to create a market in yet more speculation. Yet in this case ti is indeed true, this is a valid solution. Review:[] is short, punchy and political. Shiller is a top-flight academic economist who has often warned of the tendency of markets towards irrational exuberance, and of the harmful consequences that follow. He is rightly scathing towards the 'boosters' who kept assuring us that house prices only rise, and he gains authority for having spoken out during the boom, when it was an unpopular position to hold. . . . Shiller's debunking of house price myths is masterful. Especially important is his rubbishing of the concept of scarcity . . . Shiller's explanations are sophisticated and intelligent, and they are also admirably clear. About the AuthorRobert J. Shiller is the best-selling author of "Irrational Exuberance" and "The New Financial Order" (both Princeton), among other books. He is the Arthur M. Okun Professor of Economics at Yale University. Table of ContentsAcknowledgments ix Chapter 1: Introduction 1 Chapter 2: Housing in History 29 Chapter 3: Bubble Trouble 39 Chapter 4: The Real Estate Myth 69 Chapter 5: A Bailout by Any Other Name 87 Chapter 6: Th e Promise of Financial Democracy 115 Chapter 7: Epilogue 171 Index 179 What Our Readers Are SayingBe the first to add a comment for a chance to win!Product Details
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