Summary:
The book examines the inherent instability of the global financial system, critiquing the mainstream economic theories that fail to predict or prevent crises. It proposes a new framework for understanding financial markets, drawing on insights from behavioral economics and the history of past financial collapses.
Key points:
1. Financial Stability Misconception: George Cooper challenges the belief that markets are stable and self-correcting, arguing instead that they are prone to cycles of booms and busts.
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