Freefall
Nobel Prize winner Joseph E. Stiglitz explains the current financial crisis--and the coming global economic order. The current global financial crisis carries a "made-in-America" label. In this forthright and incisive book, Nobel Laureate Joseph E. Stiglitz explains how America exported bad economics, bad policies, and bad behavior to the rest of the world, only to cobble together a haphazard and ineffective response when the markets finally seized up. Drawing on his academic expertise, his years spent shaping policy in the Clinton administration and at the World Bank, and his more recent role as head of a UN commission charged with reforming the global financial system, Stiglitz outlines a way forward building on ideas that he has championed his entire career: restoring the balance between markets and government, addressing the inequalities of the global financial system, and demanding more good ideas (and less ideology) from economists. Freefallis an instant classic, combining an enthralling whodunit account of the current crisis with a bracing discussion of the broader economic issues at stake.
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1recommend
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2people
2012–2016years
50% recommend50% neutral
Mentions per year
What Hacker News says
- Here is my short list of favorite books on finance and economics:
FINANCIAL SECURITIES / BANKING / VENTURE CAPITAL
Bruck, Connie (1988) Predator's Ball: Inside Story of Drexel Burnham and Rise of Junk Bond Raiders
Draper, William (2011) Startup Game
Graham, Benjamin and Jason Zweig (2006) Intelligent Investor, revised ed.
_________ and David Dodd (2008) Security Analysis, 6E
Greenblatt, Joel (1999) You Can Be a Stock Market Genius
Greenwald, Kahn, Sonkin, Biema (2001) Value Investing: From Graham to Buffett and Beyond
Henwood, Doug (1997) Wall Street: How It Works and for Whom
Levitt, Arthur (2003) Take on the Street: How to Fight for Your Financial Future
Lewis, Michael (1989) Liar's Poker: Rising Through the Wreckage on Wall Street
_________ (2010) Big Short: Inside the Doomsday Machine
STATISTICS
Ayres, Ian (2007) Super Crunchers: Why Thinking by Numbers is the New Way to Be Smart
Bernstein, Peter (1996) Against the Gods: Remarkable Story of Risk
Kahneman, Daniel (2011) Thinking, Fast and Slow
Silver, Nate (2012) Signal and the Noise: Why So Many Predictions Fail, but Some Don't
Taleb, Nassim Nicholas (2005) Fooled by Randomness, 2E
_________ (2010) Black Swan: Impact of the Highly Improbable, 2E
BUSINESS DEVELOPMENT / ENTREPRENEURSHIP / INNOVATION
Christensen, Clayton (1997) Innovator's Dilemma
Stone, Brad (2013) Everything Store: Jeff Bezos and the Age of Amazon
Wallace, James and Jim Erickson (1992) Hard Drive: Bill Gates and Making of the Microsoft Empire
Walton, Sam with John Huey (1992) Sam Walton: Made in America
Wilson, Mike (1996) Difference between God and Larry Ellison: Inside Oracle Corp
POLITICAL ECONOMY / THEORY / ECONOMIC HISTORY
Arrighi, Giovanni (1994) Long Twentieth Century
Braudel, Fernand (1979) Civilization & Capitalism 15th-18th Century, vol. 3: Perspective of the World, trans. Siân Reynolds
Brechin, Gray (2006) Imperial San Francisco: Urban Power, Earthly Ruin
Heilbroner, Robert (1999) Worldly Philosophers: Lives, Times & Ideas of Great Economic Thinkers, 7E
Marx, Karl (1867) Capital, vol. 1
Stiglitz, Joseph (2003) Roaring Nineties: A New History of the World’s Most Prosperous Decade
_________ (2010) Freefall: America, Free Markets and the Sinking of the World Economy
Vallianatos, E.G. (2014) Poison Spring: Secret History of Pollution and EPA
Vilar, Pierre (1976) A History of Gold and Money: 1450-1920
Yergin, Daniel (1992) Prize: Epic Quest for Money, Oil and Power
Would enjoy email correspondence with anyone interested in these subjects: mitchelldeacon9@gmail.com All the best
- There is a book, "Freefall: America, Free Markets, and the Sinking of the World Economy"(2010), by Joseph Stiglitz - an economist of Nobel prize fame and former Chief Economist of the World Bank, who very early saw the coming of the global crisis and was laughed at in 2005-2006 for his opinion, esp. at a then held Davos summit.
In his book he elaborates deeply - but accessibly for "laymen" - what went wrong, how it could be fixed, but against whose interests in US the ideal public policy solution would have been, and so why just a dubious set of half-measures were taken, by whom, and how it might all worsen as situation in the near future.
So far, for the period from 2010 to 2012, what he claims and predicts seems right and rings true to me.
