ECONned
 | This article has multiple issues. Please help improve it or discuss these issues on the talk page. (Learn how and when to remove these messages)
|
 Hardcover edition | |
| Author | Yves Smith |
|---|---|
| Language | English |
| Genre | Finance |
| Publisher | Palgrave Macmillan |
Publication date | 2010 |
| Publication place | United States |
| Media type | Print (Hardback) |
| Pages | 368 |
| ISBN | 978-0-230-62051-3 |
| OCLC | 928874354 |
ECONned: How Unenlightened Self Interest Undermined Democracy and Corrupted Capitalism is a 2010 non-fiction book by Yves Smith, author of the Naked Capitalism blog. The book describes how the deregulation of the financial industry and the systemic incentives for managers to "loot" limited liability companies led to the build-up and eventual collapse of the credit bubble during the 2000s. Smith argues that free market economists hold much of the blame for the 2008 financial crisis due to their outsized (and unchecked) influence over policy makers. In particular, she takes issue with faux empirical approaches used by economists and the masking of complex social phenomenon in simple mathematical equations, based on assumptions that are openly acknowledged to be wrong or in error. The book makes the case that overreliance on the assumption of a 'self-correcting' free market led to a period of unregulated speculation, accounting tricks, and public looting.
References
- ECONned, at Palgrave Macmillan (official book site)
 | This article about a book on politics of the United States is a stub. You can help Wikipedia by expanding it. |