The Next Financial Crisis and How to Save Capitalism [Hardcover]

The financialization of the economy has brought a number of interrelated problems which have contributed to growing income and wealth inequality. Askari and Mirakhor assert that it is time to make a bold change by putting our financial house in order and on a better path, advocating for a fundamental reform of the financial system.Table of Contents Foreword; Dr. Vittorio Corbo Preface Acknowledgments 1. The Financial Sector - In Support of Growth or Financialization? 2. Recurring Financial Crises - The Causes 3. Recurring Financial Crises - The Fallouts 4. Recurring Financial Crises - The Essential Reforms 5. Conclusions and Our Financial Future Bibliography

This highly readable book is a welcome addition to the study of the causes and consequences of financial crises. The authors have advocated risk-sharing contracts for a number of years, and this, their latest contribution, is a very interesting and stimulating addition. - Vittorio Corbo, Professor of Economics, Pontificia Universidad Cat?lica de Chile, Senior Research Associate of the Centro de Estudios P?blicos, Chile, and former President of the Central Bank of Chile

A brilliant distillation of two lifetimes of learning and scholarship. Askari and Mirakhor have produced a cogent and comprehensive exposition on the causes and consequences of America's crisis-inducing economic problems - and the fundamental reforms necessary for resolving them. - Dariush Zahedi, Director, Berkeley Program on Entrepreneurship & Development in the Middle East, USA

The Next Financial Crisis and How to Save Capitalism is a scathing indictment of today's 'financialization' process and how it impacts the distribution of income and economic growth. With brevity and clarity, Askari and Mirakhor skillfully blend the economic wisdom of the past, the need for contemporary institutional rearrangements and the criticality of moral behavior. They also provide light at the end of the tunnel l"