24 of 24 people found the following review helpful
A perceptive book,
This review is from: The Origin of Financial Crises: Central banks, credit bubbles and the efficient market fallacy (Hardcover)
This book asserts that whilst efficient market theory does fit trade in goods and services generally, the evidence does not support its fitting assets such as land, and shares. It argues that as a result of what the author sees as a state of denial by most economists, economic policy targets inflation or aims to maintain continuous economic growth. The author suggests, with arguments that are said to be based on the thoughts of Keynes and Minsky and seem compelling to a non-economist, that central banks should rather target asset/land price inflation.
The author is a control engineer and a financial analyst, and his arguments resonate with this reviewer who is also an engineer by origin. What would be interesting is to have reasoned comments from an open minded professonal economist.
That said the book is a good read and for the curious a very different analysis of the financial turmoil of 2008.
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Initial post: 15 Oct 2008 02:02:22 BDT
Last edited by the author on 15 Oct 2008 02:03:48 BDT
Amazon Customer says:
Presumably one Economist view of Cooper's book is the strong recommendation in the "Credit and Blame" section of the Sept 13 2008 edition of The Economist Magazine.
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