The Origin of Financial Crises by George Cooper

The Origin of Financial Crises by George Cooper

'The Origin of Financial Crises' provides a compelling analysis of the forces behind the recent economic crisis. In a series of disarmingly simple arguments George Cooper challenges the core principles of today's economic orthodoxy, explaining why financial markets do not obey the efficient market principles but are instead inherently unstable and habitually crisis prone. First published in the summer of 2008 in the midst of the crisis, the author accurately pinpointed the fundamental problems in policy and economic theory that led to the banking crisis. Now updated to reflect the massive upheavals since then and providing even more forthright opinions, the book is essential reading for anyone looking to find the root cause of our current financial situation. The book describes the evolution of our modern monetary system, explaining along the way how financial instability emerged and why this instability required the development of central banking. Cooper makes the point that misguided faith in the power of free markets has led some central banks to neglect their core role of managing the financial system and instead caused them to pursue policies promoting a series of ever more violent boom-bust cycles. 'The Origin of Financial Crises' calls for a radical shift in central bank strategy, the abandonment of inflation targeting and a paradigm shift in our attitude to economic policy. The reader will also learn about the fundamentals of inflation and discover what policy makers can learn from the designers of the Eurofighter jet and how an obscure paper on steam engines, written in 1868, shows us how to avoid repeating recent monetary policy mistakes. Uniquely, 'The Origin of Financial Crises' presents tangible policy proposals aimed at helping break out of the seemingly endless procession of damaging boom-bust cycles.

General Sir George Cooper GCB MC DL served as a Troop Commander in Korea (where he was awarded the Military Cross). His career came to a close as Adjutant General (the Army's second-highest rank). He has served as Colonel Commandant Royal Engineers and Chief Royal Engineer. He is the co-author of The Bengal Sappers (2003), a critically acclaimed anthology.

SKU	Unavailable
ISBN 13	9780307473455
ISBN 10	0307473457
Title	The Origin of Financial Crises
Author	George Cooper
Condition	Unavailable
Binding Type	Paperback
Publisher	Random House USA Inc
Year published	2008-10-29
Number of pages	208
Cover note	Book picture is for illustrative purposes only, actual binding, cover or edition may vary.