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Author Rajan, Raghuram.

Title Fault lines : how hidden fractures still threaten the world economy / Raghuram G. Rajan ; with a new afterword by the author.

Publication Info. Princeton, N.J. : Princeton University Press, [2011]
©2011

Copies

Location Call No. Status
 University of Saint Joseph: Pope Pius XII Library - Standard Shelving Location  330.905 R161F    Check Shelf
Edition First paperback edition.
Description x, 270 pages ; 22 cm
Bibliography Includes bibliographical references (pages 241-256) and index.
Contents Let them eat credit -- Exporting to grow -- Flighty foreign financing -- A weak safety net -- From bubble to bubble -- When money Is the measure of all worth -- Betting the bank -- Reforming finance -- Improving access to opportunity in America -- The fable of the bees replayed.
Summary Raghuram Rajan was one of the few economists who warned of the global financial crisis before it hit. Now, as the world struggles to recover, it's tempting to blame what happened on just a few greedy bankers who took irrational risks and left the rest of us to foot the bill. In "Fault Lines", Rajan argues that serious flaws in the economy are also to blame, and warns that a potentially more devastating crisis awaits us if they aren't fixed. Rajan shows how the individual choices that collectively brought about the economic meltdown - made by bankers, government officials, and ordinary home-owners - were rational responses to a flawed global financial order in which the incentives to take on risk are incredibly out of step with the dangers those risks pose. He traces the deepening fault lines in a world overly dependent on the indebted American consumer to power global economic growth and stave off global downturns.-- Publisher.
Economics.
Subject Income distribution -- United States -- History -- 21st century.
United States -- Social conditions -- 21st century.
Global Financial Crisis, 2008-2009.
Economic history -- 21st century.
ISBN 9780691152639 paperback
0691152632 paperback
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