Leveraged
The New Economics of Debt and Financial Fragility
Recommendation
Inspired by the disruptions caused by the 2008 financial crisis and the COVID-19 pandemic, this collection of essays offers an engaging overview of the latest thinking in economics and its practical implications. Many of the conclusions presented here question the pre-2008 assumption that financial systems will be just fine, as long as free markets and private incentives prevail. The work of the late, great Hyman Minsky – who explained human nature’s tendency toward boom-and-bust cycles – is a recurring theme and inspiration. Edited by professor Moritz Schularick, this notable book shows how credit and leverage are fundamental factors in recent crises.
Summary
About the Author
Moritz Schularick is a professor of economics at Sciences Po in Paris and the University of Bonn, Germany. The authors of the sections are associated with the Institute for New Economic Thinking.
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