Getting Off Track: How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis

( 6 )

Overview

In this concise volume, leading economist John B. Taylor offers empirical research to explain what caused the current financial crisis, what prolonged it, and what dramatically worsened it more than a year after it began. The evidence he presents strongly suggests that specific government actions and interventions are largely to blame and that any future government interventions must be based on a clearly stated diagnosis of the problem and a rationale for the interventions. ...
See more details below
Hardcover (New)
$10.81
BN.com price
(Save 27%)$14.95 List Price
Other sellers (Hardcover)
  • All (37) from $1.99   
  • New (9) from $4.95   
  • Used (28) from $1.99   

Overview

In this concise volume, leading economist John B. Taylor offers empirical research to explain what caused the current financial crisis, what prolonged it, and what dramatically worsened it more than a year after it began. The evidence he presents strongly suggests that specific government actions and interventions are largely to blame and that any future government interventions must be based on a clearly stated diagnosis of the problem and a rationale for the interventions.
Read More Show Less

Editorial Reviews

Forbes.com
Cogent, thorough and compelling... Taylor sums up his argument in his subtitle: How Government Actions and Interventions Caused, Prolonged and Worsened the Financial Crisis. Take a moment to absorb that. Although we're told every day that the crisis arose from failures in the free markets--that it represents a crisis of capitalism itself--an eminent economist has now stepped forward to say, in effect, "Nonsense." The markets didn't fail, Taylor argues, the government did.
—Peter Robinson
Read More Show Less

Product Details

  • ISBN-13: 9780817949716
  • Publisher: Hoover Institution Press
  • Publication date: 2/26/2009
  • Series: Hoover Inst Press Publication
  • Edition description: New
  • Pages: 92
  • Sales rank: 1,409,133
  • Product dimensions: 5.50 (w) x 8.20 (h) x 1.50 (d)

Meet the Author

John B. Taylor is the Bowen H. and Janice Arthur McCoy Senior Fellow at the Hoover Institution and the Mary and Robert Raymond Professor of Economics at Stanford University.
Read More Show Less

Table of Contents

List of Figures ix; Preface xi; Chapter 1 What Caused the Financial Crisis 1; Chapter 2 What Prolonged the Crisis 15; Chapter 3 Why the Crisis Worsened Dramatically, a Year after it Began 25; Chapter 4 What Went Right in the Two Decades before the Crisis 31; Chapter 5 Why a Black Swan Landed in the Money Market in August 2007 45; Epilogue 61; Frequently Asked Questions 65; References 77; Acknowledgments 81; About the Author 83; Index 87
Read More Show Less

Customer Reviews

Average Rating 5
( 6 )
Rating Distribution

5 Star

(6)

4 Star

(0)

3 Star

(0)

2 Star

(0)

1 Star

(0)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously
Sort by: Showing all of 6 Customer Reviews
  • Posted August 23, 2013

    more from this reviewer

    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  No   Report this review
  • Posted May 26, 2010

    more from this reviewer

    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  No   Report this review
  • Anonymous

    Posted May 14, 2010

    I Also Recommend:

    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  No   Report this review
  • Posted January 25, 2010

    I Also Recommend:

    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  No   Report this review
  • Posted July 12, 2009

    I Also Recommend:

    great for economic situation we find ourselves in right now

    very informative
    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

    Was this review helpful? Yes  No   Report this review
  • Anonymous

    Posted February 20, 2010

    No text was provided for this review.

Sort by: Showing all of 6 Customer Reviews

If you find inappropriate content, please report it to Barnes & Noble
Why is this product inappropriate?
Comments (optional)