Fault lines
Subtitle: how hidden fractures still threaten the world economy
By: Raghuram G. Rajan ; with a new afterword by the author
Edition: 1st pbk. ed.
Publisher: Princeton University Press
Published: 2011
Place of publication: Princeton, N.J
Language: eng
Number of pages: 270
ISBN-13: 9780691152639
Subjects: Social conditions; History; Global Financial Crisis, 2008-2009; Income distribution; Economic history
Description: 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.--

Economics.
Notes: Includes bibliographical references (p. 241-256) and index.