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Posted August 23, 2013
Explains why the 2008 recession has lingered
John Taylor should be the next Chairman of the Federal Reserve, as he is most experienced and accomplished working economist in the world today. Dr. Taylor won't be selected, because he is an actual economist in the mold of Friedman, Hayek, Mises and Sowell. In other words, Taylor operates in the real world, rather than in Barack Obama's ideologically constructed fantasy universe, where political gain trumps sound economic policies every time. In this brief, but effectively reasoned book Dr. Taylor dissects and reveals the failed policies that have prolonged what should have been a temporary, cyclical recession into the recovery that continues to produce no jobs, no real growth and more government regulation and bureaucracy.Was this review helpful? Yes NoThank you for your feedback. Report this reviewThank you, this review has been flagged.
Posted May 26, 2010
Short and to the point
The book is short, not very expensive, and not filled with a bunch of obtuse models. Dr. Taylor describes why he thinks short-term rates jumped up in the fall of 2008. Instead of taking a more numerical route, he spends time describing what can be learned from comparing different interest rates. Those are things you don't run into very often in technical journal articles.Was this review helpful? Yes NoThank you for your feedback. Report this reviewThank you, this review has been flagged.
What caused the Housing Crash of 2008?
John Taylor is the economist behind the Taylor Rule which fine-tunes monetary policy, and which led to a long period of economic stability here and in Europe, before it was abandoned for political reasons. He argues that the arbitrary manipulations of interest rates by the Federal Reserve worsened the Housing Crisis. If his arguments are correct, the return to Keynesian fiscal policy of 2008, and the renewed abandonment of the Taylor rule in monetary policy in 2009, my have dire consequences for the U.S. economy.Was this review helpful? Yes NoThank you for your feedback. Report this reviewThank you, this review has been flagged.
Analysis You Can Understand
This is a great book for anyone who wants to gain a greater understanding of what happened to the economy during the period 2007 through 2009. The author, John Taylor, created the "Taylor Rule" as a predictive guide for interest rate policy by the Federal Reserve. In very concise prose, Taylor demonstrates how the Fed departed from its prior policies during the period from 2002 through 2006 and the effect of that departure on the economy. This is a quick read - it was created from papers written by Taylor for various conferences - but is packed with information that anyone who wants to have a greater understanding of how the Fed works or should work. The book presents a convincing case that in a large part the economic problems that culminated in the Great Recession were, and continue to be, the result of Fed policy errors.Was this review helpful? Yes NoThank you for your feedback. Report this reviewThank you, this review has been flagged.
great for economic situation we find ourselves in right now
very informativeWas this review helpful? Yes NoThank you for your feedback. Report this reviewThank you, this review has been flagged.
a man whose experience and knowledge should be followed by all in washington and the world at large.
blames government for problems and explains why government is not the solution the market is
Posted February 20, 2010
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