Political Bubbles
How governmental failure led to the 2008 financial crisis—and what needs to be done to avoid another similar event
Behind every financial crisis lurks a "political bubble"—policy biases that foster market behaviors leading to financial instability. Rather than tilting against risky behavior, political bubbles—arising from a potent combination of beliefs, institutions, and interests—aid, abet, and ...
How governmental failure led to the 2008 financial crisis—and what needs to be done to avoid another similar event
Behind every financial crisis lurks a "political bubble"—policy biases that foster market behaviors leading to financial instability. Rather than tilting against risky behavior, political bubbles—arising from a potent combination of beliefs, institutions, and interests—aid, abet, and ...
