In Defense of Free Capital Markets
Subtitle: The Case Against a New International Financial Architecture
Publisher: Bloomberg Press
Published: January 2001
Language: eng
Format: Hardcover
Number of pages: 288
ISBN-13: 9781576600368
Subjects: Capitalist or free market economies; Economic theory & philosophy; Finance; International Finance; Business & Economics; Business / Economics / Finance; International - General; Business/Economics; International - Economics; Foreign exchange; Business & Economics / Free Enterprise; Business & Economics/Accounting - General; Business & Economics/Economics - General; Business & Economics/Finance; Business & Economics/International - Economics; Deregulation; Capital market; Case studies; Developing countries; Free Enterprise
First sentence: THE FINANCIALLY TURBULENT decade of the 1990s is a challenge for market-oriented economists to explain.
Description: "This book analyses the economic conditions that produced a number of recent financial crises. It also investigates the responses made to each crisis, to uncover whether government policies directed at these episodes of turmoil made matters better or worse.".

"Before constructing new regulations, economists should carefully examine the results of past policy. Many fixed-exchange-rate regimes have failed in their intended purpose of maintaining stability in the currency markets. Those attempts at control, instead, have caused violent macroeconomic fluctuations and have had far-reaching, often destructive, effects - ironically, just the opposite of what their creators intended.

The future economic well-being of both developed and developing nations depends upon an honest look at the irrefutable lessons of these recent financial disasters - before they are repeated."--BOOK JACKET.