Among the many analyses of the Global Financial Crisis, Joseph Stiglitz’s Freefall is one of the most outstanding. It traces how the crisis occurred, despite urgent warnings from himself and others (including Nouriel Roubini, George Soros and Robert Shiller), and gives a stinging indictment of the ideology behind the free-market policies that
impelled the economic catastrophe. “This book is about a battle of ideas, about the ideas that led to the failed policies that precipitated the crisis and about the lessons we take away from it” (p. xii). Like John Maynard Keynes, Stiglitz argues that markets do not work well on their own, and require astute regulation.
Click HERE to read the full review by Bruce Duncan.
Joseph E Stiglitz, Freefall: America, Free Markets, and the Sinking of the World
Economy (New York: W W Norton & Co., 2010), pp. xxx + 361. It has extensive
footnotes but no index.