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The Financial Crisis in Perspective (Collection)
book

The Financial Crisis in Perspective (Collection)

by Satyajit Das Mark Zandi John Authers
May 2012
Beginner content levelBeginner
1040 pages
27h 16m
English
Pearson
Content preview from The Financial Crisis in Perspective (Collection)

Part II: Fundamentalism

Fundamentalism—movement that stresses the superiority, infallibility, and authority of its beliefs in matters of faith, morals, history, and prophecy.

The “financial revolution” elevated economic theory to the status of an all-powerful religion.

The central belief was the ability to create continuous growth and improved living standards, without destructive “boom-bust” economic cycles. Policy makers and economists would achieve these outcomes by adjusting the economic flight controls. Camouflaged as a “science” in dense jargon and mathematics, the system was actually political ideology focused on the role of markets and governments in economies. The ideas of influential economists, like John Maynard Keynes and Milton Friedman, ...

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Publisher Resources

ISBN: 9780133087536