Political Bubbles: Financial Crises and the Failure of American Democracy

by Nolan M. McCarty, Keith T. Poole, Howard Rosenthal

Book Overview

Behind every financial crisis lurks a "political bubble"--policy biases that foster market behaviors leading to financial instability. Rather than tilting against risky behavior, political bubbles--arising from a potent combination of beliefs, institutions, and interests--aid, abet, and amplify risk. Demonstrating how political bubbles helped create the real estate-generated financial bubble and the 2008 financial crisis, this book argues that similar...

• Format: Hardcover
• Language: English
• ISBN: 0691145016
• ISBN13: 9780691145013
• Release Date: May 2013
• Publisher: Princeton University Press
• Length: 368 Pages
• Weight: 1.45 lbs.
• Dimensions: 1.1" x 6.0" x 9.3"