Fault Lines - How Hidden Fractures Still Threaten the World Economy. Winner of the Financial Times & Goldman Sachs Business Book of the Year award
Verlag | Princeton University Press |
Auflage | 2011 |
Seiten | 280 |
Format | 21,3 cm |
Gewicht | 286 g |
Artikeltyp | Englisches Buch |
ISBN-10 | 0691152632 |
EAN | 9780691152639 |
Bestell-Nr | 69115263EA |
Rajan shows how the individual choices that collectively brought about the economic meltdown--made by bankers, government officials, and ordinary homeowners--were rational responses to a flawed global financial order in which the incentives to take on risk are incredibly out of step with the dangers those risks pose. He traces the deepening fault lines in a system overly dependent on American consumption to power the world economy and stave off a global downturn; a system where America's thin social safety net has created tremendous political pressure to keep job creation robust, because jobs are the primary provider of health and other benefits; and where the U.S. financial sector, with its skewed incentives, is the critical but unstable link between an overstimulated America and an underconsuming world.