Bad Money
Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism: The Inexcusable Failure of American Finance: An Update to Bad ... Penguin Group eSpecial from Penguin Books)
by:
Kevin Phillips
in:
Economics
Summary:
The book examines the roots and consequences of the 2008 financial crisis, focusing on the role of complex financial instruments, the housing bubble, and political mismanagement. It critiques the American financial system and political decisions that prioritized short-term gains over economic stability, leading to a global economic downturn.
Key points:
1. Overreliance on Finance: The U.S. economy is too dependent on finance, hurting manufacturing and increasing crisis risk.
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