Product Description In a series of disarmingly simple arguments financial market analyst George Cooper challenges the core principles of today's economic orthodoxy and explains how we have created an economy that is inherently unstable and crisis prone. With great skill, he examines the very foundations of today's economic philosophy and adds a compelling analysis of the forces behind economic crisis. His goal is nothing less than preventing the seemingly endless procession of damaging boom-bust cycles, unsustainable economic bubbles, crippling credit crunches, and debilitating inflation. His direct, conscientious, and honest approach will captivate any reader and is an invaluable aid in understanding today's economy. Product Details - Published on: 2008-10-29
- Released on: 2008-10-29
- Original language: English
- Number of items: 1
- Binding: Paperback
- 208 pages
Editorial Reviews Review
“A must-read on the origins of the crisis.”
—The Economist
“A must read. . . . The problem, says Mr. Cooper, is that central banks have subscribed to one economic philosophy in an expanding economy and quite another when the economy is contracting. . . . Cooper's book is by far the most cogent and reasoned of the modern-day 'credit excess' school.”
—The Economist
“A well written book. . . . Cooper's most novel doctrine is that investors do not have to be irrational to generate bubbles. . . . Mr. Cooper traces present difficulties to the rapid growth of credit encouraged by the Fed's ultra-cheap money policy of a few years ago.”
—Financial Times
From the Trade Paperback edition. Review
“A must-read on the origins of the crisis.”
—The Economist
“A well written book. . . . Cooper's most novel doctrine is that investors do not have to be irrational to generate bubbles. . . . Mr. Cooper traces present difficulties to the rapid growth of credit encouraged by the Fed's ultra-cheap money policy of a few years ago.”
—Financial Times About the Author
Dr. George Cooper is a principal of Alignment Investors a division of BlueCrest Capital Management Ltd. He was born in Sunderland and studied at Durham University. Dr. Cooper has worked as a fund manager at Goldman Sachs and as strategist for Deutsche Bank and JPMorgan. He lives in London with his wife and two children. See other products at BiG GooRoo Shop, Click here! Customer Reviews The Origin of Financial Crises
What Cooper manages to do with this book is to take the most pressing issue of modern times and explain in a crisp, clear manner that the average person can understand. The criticisms of not being geared towards Economists are not important. In this day and age, we need all Americans to get at least a basic understanding of why we are in this crisis and how not to repeat it. Loading a books up with statistics and academic terminology only a few can understand may win you points at your next cocktail party, but will do nothing to inform the public of the true causes of the financial crisis. If you disagree with his solutions, come up with better. But the time for the debate is now. Clear, Concise, Accessilbe. 
Excellent overview of the credit cycle. Some reviewers complained about the lack of statistical rigor, but I found that to be the book's greatest strength. There are plenty of econ books that provide a plethora of equations & statistics - if that's what you're looking for, look elsewhere.
Cooper sets out to provide a logical analysis of the credit boom/bust cycle that is accessible to a broad audience and succeeds exceedingly well. Four stars for the layman but only one for those with extensive academic/professional experience
This book is primarily written for the layman as opposed to those with extensive academic (i.e., BA in Economics or Finance and above) or professional backgrounds. For the latter the book contains material that should be well known and the critiques made by the book of "Efficient Market" based hypotheses should be fairly evident.
The book starts with a quote from the Nobel prize winner Paul Samuelson stating that supply and demand determine prices in all markets (including Both goods and financial asset markets). This has been the mainstream view of Economists since the early 1800s.
Cooper, a holder of Doctorate and having decades of experience in finanical markets, then goes about showing the flaws in this "mainstream" view regarding asset prices and why they have been so cyclical over time. He does this a la the hypthoses of Keynes and Minsky. He does this in such a manner, however, that his arguments are accessable to non-Economists/Financial experts (unlike the works he cites that can, basically, only be understood by those with at least a few years of background in economics and/or finance). This is the main strength/weakness of the book.
‘ BiG GooRoo : Knowledge Hub for Online Shopping ’
|
The Origin of Financial Crises: Central Banks, Credit Bubbles, a
