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Author: Nicola Gennaioli Publisher: Princeton University Press ISBN: 0691202230 Category : Business & Economics Languages : en Pages : 264
Book Description
"How investor expectations move markets and the economy. The collapse of Lehman Brothers in September 2008 caught markets and regulators by surprise. Although the government rushed to rescue other financial institutions from a similar fate after Lehman, it could not prevent the deepest recession in postwar history. A Crisis of Beliefs makes us rethink the financial crisis and the nature of economic risk. In this authoritative and comprehensive book, two of today's most insightful economists reveal how our beliefs shape financial markets, lead to expansions of credit and leverage, and expose the economy to major risks. Nicola Gennaioli and Andrei Shleifer carefully walk readers through the unraveling of Lehman Brothers and the ensuing meltdown of the US financial system, and then present new evidence to illustrate the destabilizing role played by the beliefs of home buyers, investors, and regulators. Using the latest research in psychology and behavioral economics, they present a new theory of belief formation that explains why the financial crisis came as such a shock to so many people--and how financial and economic instability persist. A must-read for anyone seeking insights into financial markets, A Crisis of Beliefs shows how even the smartest market participants and regulators did not fully appreciate the extent of economic risk, and offers a new framework for understanding today's unpredictable financial waters."--
Author: Nicola Gennaioli Publisher: Princeton University Press ISBN: 0691202230 Category : Business & Economics Languages : en Pages : 264
Book Description
"How investor expectations move markets and the economy. The collapse of Lehman Brothers in September 2008 caught markets and regulators by surprise. Although the government rushed to rescue other financial institutions from a similar fate after Lehman, it could not prevent the deepest recession in postwar history. A Crisis of Beliefs makes us rethink the financial crisis and the nature of economic risk. In this authoritative and comprehensive book, two of today's most insightful economists reveal how our beliefs shape financial markets, lead to expansions of credit and leverage, and expose the economy to major risks. Nicola Gennaioli and Andrei Shleifer carefully walk readers through the unraveling of Lehman Brothers and the ensuing meltdown of the US financial system, and then present new evidence to illustrate the destabilizing role played by the beliefs of home buyers, investors, and regulators. Using the latest research in psychology and behavioral economics, they present a new theory of belief formation that explains why the financial crisis came as such a shock to so many people--and how financial and economic instability persist. A must-read for anyone seeking insights into financial markets, A Crisis of Beliefs shows how even the smartest market participants and regulators did not fully appreciate the extent of economic risk, and offers a new framework for understanding today's unpredictable financial waters."--
Author: Moritz Schularick Publisher: University of Chicago Press ISBN: 0226816931 Category : Business & Economics Languages : en Pages : 318
Book Description
Introduction : the new economics of debt and financial fragility /Moritz Schularik --Part 1. Finance unbound : the rise of finance and the economy.How to think about finance /Atif Mian ; comment by Karen Dynan --Reconsidering the costs and benefits of debt booms for the economy /Emil Verner ; comment by Holger Mueller --Part 2. Risk-taking : incentives, investors, institutions.Are bank CEO's to blame? /Rüdiger Fahlenbrach ; comment by Sameul G. Hanson --A new narrative of investors, subprime lending, and the 2008 crisis /Stefania Albanesi ; comment by Fernando Ferreira --Bank capital before and after financial crises /Òscar Jordà, Björn Richter, Moritz Schularick, and Alan M. Taylor ; comment by Anna Kovner --Part 3. Mispricing risks : credit booms and risk premia.Beliefs and risk-taking /Alessia de Stefani and Kaspar Zimmermann ; comment by Yueran Ma --A new approach to measuring banks' risk exposure /Juliane Begenau ; comment by Nina Boyarchenko --Is risk mispriced in credit booms? /Tyler Muir --Part 4. Financial crises : reconsidering the origins and consequences.Historical banking crises : a new database and a reassessment of their incidence and severity /Matthew Baron and Daniel Dieckelmann ; comment by Mark Carlson --Was the U.S. Great Depression a credit boom gone wrong? /Natascha Postel-Vinah ; comment by Eugene N. White --Sectoral credit booms and financial stability /Kärsten Muller ; comment by Orsola Costantini.
Author: Neil Levy Publisher: Oxford University Press ISBN: 019289532X Category : Philosophy Languages : en Pages : 211
Book Description
"Why do people come to reject climate science or the safety and efficacy of vaccines, in defiance of the scientific consensus? A popular view explains bad beliefs like these as resulting from a range of biases that together ensure that human beings fall short of being genuinely rational animals. This book presents an alternative account. It argues that bad beliefs arise from genuinely rational processes. We've missed the rationality of bad beliefs because we've failed to recognize the ubiquity of the higher-order evidence that shapes beliefs, and the rationality of being guided by this evidence. The book argues that attention to higher-order evidence should lead us to rethink both how minds are best changed and the ethics of changing them: we should come to see that nudging - at least usually - changes belief (and behavior) by presenting rational agents with genuine evidence, and is therefore fully respectful of intellectual agency. We needn't rethink Enlightenment ideals of intellectual autonomy and rationality, but we should reshape them to take account of our deeply social epistemic agency"--
Author: Jimmy Carter Publisher: Simon and Schuster ISBN: 0743284577 Category : Political Science Languages : en Pages : 225
Book Description
Jimmy Carter has written importantly about his spiritual life and faith. Now he describes quite personally his own involvement and reactions to disturbing societal trends involving both the religious and political worlds as they become intertwined.
Author: Francis S. Collins Publisher: Harper Collins ISBN: 006197840X Category : Religion Languages : en Pages : 352
Book Description
“A brilliant, wide ranging and powerful series of readings on the possibilities, problems and mysteries of faith. This book belongs on the shelf of every believer—and every serious skeptic.” — Rabbi David Wolpe, author of Why Faith Matters “This life-giving, faith-filled and hard-nosed collection reveals why, as St. Anselm wrote, true faith always seeks to understand.” — Rev. James Martin, author of My Life with the Saints From Dr. Francis Collins, New York Times bestselling author of The Language of God, comes the definitive reader on the rationality of faith.
Author: Davey Brian Publisher: ISBN: 9780954051037 Category : Languages : en Pages : 490
Book Description
For hundreds of years economists have misrepresented the complexity of human psychology and worked with an asocial understanding of wellbeing. They have celebrated wealthy and powerful patrons and turned a blind eye to pervasive elite crime. They have recommended brutal policies and sanctified the "invisible hand" of supposedly beneficial markets - while downplaying destruction to communities and environments. Originally part of moral philosophy, economics is a 'gospel' that human problems can be traced back to 'scarcity', with salvation in efficiency, competitive markets, specialisation, technology and growth. In the contemporary world this guiding faith in the pursuit of growth is crashing against ecological boundaries. The economic system is caught in a Catch 22 because, without growth, it will be impossible to service debts and the financial system will implode.
Author: Diane H. Lloyd Publisher: Lulu.com ISBN: 9781387354177 Category : Religion Languages : en Pages : 260
Book Description
This is a powerful book written for those who find themselves facing a crisis of belief that tests and challenges the very core of their being and their view of God. This book will help you navigate your crisis with principles from the Word of God as you follow the faith walk of two women, one black, one white, one American, one Canadian, one Gen Xer and one Baby Boomer, and one identity...in Jesus Christ.
Author: Robert Mark Wenley Publisher: Hardpress Publishing ISBN: 9781314982046 Category : Languages : en Pages : 394
Book Description
Unlike some other reproductions of classic texts (1) We have not used OCR(Optical Character Recognition), as this leads to bad quality books with introduced typos. (2) In books where there are images such as portraits, maps, sketches etc We have endeavoured to keep the quality of these images, so they represent accurately the original artefact. Although occasionally there may be certain imperfections with these old texts, we feel they deserve to be made available for future generations to enjoy.
Author: Adebowale Ojowuro Publisher: Verity Publishers ISBN: 9781928348825 Category : Religion Languages : en Pages : 316
Book Description
The debates to disentangle the mystery of religion will most likely rage until eternity...This 314 page book critically re-examines theology and the disturbing trend to which religious practices and dogmatic faith have dangerously malformed in the new societal order of our modern civilization. This book is a comprehensive polygraph test for organized religions and their gods - a thorough lie detection analysis of sinister misapplication of faith and the cognitive errors of the fundamental theologies that bind humanity to religious beliefs. Attentive reader of this book would evidently discern how staggering and incredibly infinite the human stupidity truly is where it concerns religion and dogmatic faith. *Provocative *Revealing *Hot!
Author: Tony Sunderland Publisher: ISBN: 9781925590487 Category : Religion Languages : en Pages : 336
Book Description
Religious history in the Western world has been dominated by the power and doctrinal discipline of the Catholic Church. But, argues Tony Sunderland in his new book, we are not solely products of this tradition, nor of that of its Protestant challengers. Lost in the footnotes of history is the story of the Church's fascinating heretical counterpart, Gnosticism. The Gnostics were brutally persecuted and their ideas were suppressed. But their teachings were powerful enough to linger on in the collective unconscious of succeeding generations and to re-emerge in the most unexpected places. From symbols on the American one-dollar bill to the ideals of the 1960s counterculture, from heavy metal music to twenty-first century technological innovations, various facets of Gnostic thought continue to offer us a way to interpret the meaning of our lives. As Sunderland traces the battle between the orthodox and heretical traditions of Christianity, his thorough research and ability to make counterintuitive connections reveal to us a struggle that continues to rage beneath the surface of contemporary life.
Author: Nicola Gennaioli
Author: Nicola Gennaioli
Author: Moritz Schularick
Author: Neil Levy
Author: Jimmy Carter
Author: Francis S. Collins
Author: Davey Brian
Author: Diane H. Lloyd
Author: Robert Mark Wenley
Author: Adebowale Ojowuro
Author: Tony Sunderland