Alan Blinder's After the Music Stopped - The Financial Crisis, the Response, and the Work Ahead is the best work on the Financial Crisis that I have read. If you have to read one single book on the topic, this is the one. I have closely followed the academic and policy work on the Financial Crisis and this book is very well-written, well researched, and pitched at a level that can be ready by most business people. If there is any academic jargon, Blinder covers the issue with side notes.
He does a good job of not just reporting the fact, but also provides context with economic theory and his personal views. He also provides even-handed recommendations for solving crises and also provides a good review of the policy changes that have been implemented.
His argument is that this did not have to happen. Policy mistakes years prior as well as mistakes done in real time made for a bad situation. Still, he is not being a Monday morning quarterback. He provides details on why some decisions were very effective and saved the financial system. After reading this boo, you will feel as though we need Alan Blinder to provide more policy advice to the government.
No comments:
Post a Comment