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e-Book Unintended Consequences: Why Everything You've Been Told about the Economy Is Wrong download

e-Book Unintended Consequences: Why Everything You've Been Told about the Economy Is Wrong download

by Malcolm Hillgartner,Edward Conard

ISBN: 1470823586
ISBN13: 978-1470823580
Language: English
Publisher: Blackstone Audio, Inc.; Unabridged edition (June 7, 2012)
Category: Politics and Government
Subategory: Sociology

ePub size: 1963 kb
Fb2 size: 1958 kb
DJVU size: 1606 kb
Rating: 4.1
Votes: 494
Other Formats: lrf lit azw lrf

Unintended Consequences is not a book that takes a couple of insights and expands them into three hundred pages; rather, it covers the entire scope of the economy

Unintended Consequences is not a book that takes a couple of insights and expands them into three hundred pages; rather, it covers the entire scope of the economy. Whether you agree with the book's provocative and counterintuitive conclusions or not, Unintended Consequences will reward you with a sophisticated understanding of the contemporary economy-one no other book has yet provided.

But according to Unintended Consequences, the conventional wisdom masks the real causes of our economic disruption and puts . In May of 2012, Conard published Unintended Consequences: Why Everything You've Been Told About the Economy Is Wrong

But according to Unintended Consequences, the conventional wisdom masks the real causes of our economic disruption and puts us at risk of facing a slew of unintended-and potentially es. In May of 2012, Conard published Unintended Consequences: Why Everything You've Been Told About the Economy Is Wrong. The book was featured on the cover of the New York Times Sunday Magazine and went on to become a New York Times top ten non-fiction bestseller.

Unintended Consequences will be the most talked about economic book in 2012. Edward Conard has written a provocative and important book about the economy that challenges conventional wisdom about the financial crisis, the trade deficit, government policy, and the path to prosperity. When Ed Conard points the spotlight at recent economic history, his uncanny ability to cut through the confusion provides something totally unexpected: a fresh, nonpartisan perspective on what is right and wrong with America. I hope policy makers and business leaders will pay close attention to Conard’s framework.

Edward "Ed" Conard is the author of the New York Times top-ten bestselling book, Unintended Consequences . The book was featured on the cover of the New York Times Sunday Magazine and went on to become a New York Times top ten non-fiction bestseller

Edward "Ed" Conard is the author of the New York Times top-ten bestselling book, Unintended Consequences: Why Everything You've Been Told About the Economy Is Wrong (2012). He is a visiting scholar at the American Enterprise Institute.

Unintended Consequences book. Goodreads helps you keep track of books you want to read

Unintended Consequences book. Goodreads helps you keep track of books you want to read. Start by marking Unintended Consequences: Why Everything You've Been Told About the Economy Is Wrong as Want to Read: Want to Read savin. ant to Read.

Unintended Consequences by Edward Conard presents a fascinating new case for how the economy really works and improvements that might protect our economy. America is in a time of economic uncertainty not seen since the Great Depression. Bankers and regulators are blamed for putting our financial system at extreme risk, while households are charged with borrowing recklessly to fuel spending. A massive trade deficit is said to put the US at the mercy of those who hold our sovereign debt, even as unemployment climbs amid stagnant economic growth.

Unintended Consequences. Why Everything You've Been Told about the Economy Is Wrong. Prior to that he worked for Wasserstein Perella, an investment bank that specialized in mergers and acquisitions. He lives in New York City. People Who Liked Unintended Consequences Also Liked These Free Titles

But according to Edward Conard’s Unintended Consequences: Why Everything You’ve Been Told .

But according to Edward Conard’s Unintended Consequences: Why Everything You’ve Been Told about the Economy Is Wrong, conventional wisdom masks the real causes of US economic disruption and puts us at risk of facing a slew of unintended-and potentially es.

Regrettably, Conard overplays his hand.

For Edward Conard, the rich deserve fewer taxes-and more yachts. America's skewed distribution of income is evidence of divine intervention, according to Conard Illustration by Chris Gash. Regrettably, Conard overplays his hand. You know the Democrats’ caricature of Republicans who only care about rich people? Well, meet Ed Conard.

Conard published Unintended Consequences: Why Everything You've Been Told About the Economy Is Wrong in May 2012

Conard published Unintended Consequences: Why Everything You've Been Told About the Economy Is Wrong in May 2012 While the New York Times predicted the book might become the most hated book of the year, leading economists such as Greg Mankiw, Andrei Shleifer, Steven Levitt, Nouriel Roubini, Tyler Cowen, and Glenn Hubbard publicly endorsed the book

[Read by Malcolm Hillgartner] Unintended Consequences will reward you with a sophisticated understanding of the contemporary economy, one no other book has yet provided. In the aftermath of the financial crisis, many commonly held beliefs have emerged to explain its cause. Conventional wisdom blames Wall Street and the mortgage industry for using low down payments, teaser rates, and other predatory tactics to seduce unsuspecting home owners into assuming mortgages they couldn't afford. It blames average Americans for borrowing recklessly and spending too much. And it blames the tax policies and deregulatory environment of the Reagan and Bush administrations for encouraging reckless risk taking by wealthy individuals and financial institutions. But according to Unintended Consequences, the conventional wisdom masks the real causes of our economic disruption and puts us at risk of a slew of unintended -- and potentially dangerous -- consequences. Unintended Consequences is not a book that takes a couple of insights and expands them into three hundred pages; rather, it covers the entire scope of the economy. It's a fascinating and contrarian case for how the economy really works, what went wrong over the past decade, and what steps we can take to start growing again. Whether you agree with the book's provocative and counterintuitive conclusions or not, Unintended Consequences will reward you with a sophisticated understanding of the contemporary economy -- one no other book has yet provided.
Comments:
Araath
Most interesting are the range of comments here. I never realized the how much open animosity there to to free markets, capitalism and risk taking by successful entrepreneurs. Who would you rather have in control of your lives, a company and business that is accountable to customers every day.. or a government that is completely unaccountable and continually looks to justify taking of an ever greater percentage of the wealth that we create? Free markets function without governments.. this independence is what creates fear... it also creates the regulatory- patronage system that corrupt and destroys our economy. The US should not take its dominant position as a given.. we have tremendous potential.. but that ECONOMIC potential can NOT be untied by a government.. it creates nothing.. it just consumes... The social potential of a people (similarly) should not be tied to a government...

Isn't it odd that our modern technology and "contentedness" has enabled us to do so many more things locally... to simplify and create tremendous inefficiencies. Markets force performance, accountability and transparency. What part of the "progressive" machine resembles that? We can't even see what legislation looks like before it becomes law...

krot
A VERY original take on the sources of prosperity in the early 2000s, and side effects of policies to stop the bleeding in 2008-9. Conrad is a bit obsessed with capital and innovation, but that is a good counterpoint to its scant treatment in mainstream economics. A worthwhile and contrasting companion to some of the journalistic and memoir accounts of the financial crisis, like Hank Paulson's ON THE BRINK, Tim Geithner's STRESS TEST, or Andrew Ross Sorkin's TOO BIG TO FAIL.

artman
good review

Qumen
Mr. Conard put an impressive amount of research and intellectual effort into this book. In short, he argues that innovation underwritten by risk capital increases society's wealth available to the upper, middle and lower economic classes. Actions that inhibit risk and innovation inevitably reduce overall U.S. wealth. The Great Recession has caused the U. S. to dial back the use of risk capital, which slows innovation, inhibits employment and reduces prosperity. He examines the arguments on taxation and income redistribution from all sides of the political and economic spectrum. Those of a socialist or liberal political persuasion will probably find the author's arguments unpersuasive and perhaps troubling; political conservatives will probably be more persuaded. He argues, for instance, that much of the wealth that innovation and risk create flow to the middle and lower economic classes. He further argues that excess consumption feeds the egos that drive the risk-taking that leads to innovation that increases the wealth available to society. While I am certain that some political viewpoints will react adversely to these arguments, I think any reader will have to concede that the intellectual breadth of the author's effort deserves respect.

The sections of the book addressing the effects of technical regulatory changes and accounting interpretations on the Great Recession were enlightening. The author explains that these arcane regulatory and accounting matters had an unexpected influence on the market forces in the subprime loan debacle. He also discusses the political and market impulses that led to the Great Recession arising out of the misuse of subprime loans. His discussion of the political impulses behind these loans is fairly well known.

Here are my criticisms of the arguments. He argues that the runs on banks in 2008 led to a series of political, social and regulatory actions that inhibit risk taking that slows innovation which is the primary way that the U. S. has grown its economy. When he talks about risk taking I believe that the author mainly means the financial industry, although he clearly recognizes that the financial industry deeply influences the wider economy. He forcefully makes the argument that bankers were not the only parties encouraging and benefiting from subprime loans. However, he does not address the argument that the financial industry by 2008, and probably even today, operates on a compensation model, not a business model. By this, I mean that many participants in the financial industry work very hard and take large risks in the hopes of substantial and immediate compensation because they do not necessarily expect to have a lengthy career in banking. Also, with the substantial underwriting of risk by the federal government, the financial industry essentially is playing with "house money," not their own funds. Certainly, as Mr Conard argues, bankers were not the only parties at fault; political actors also bear a great deal of fault in this fiasco. The challenge becomes how does one introduce more risk into both the financial and political spheres?

My second criticism arises from the author's argument that offshoring manufacturing to China to take advantage of "seventy-five cent an hour labor" has lead to longer term prosperity. Underlying this argument is the assumption, which I believe is fairly well accepted in the field of economics, that any unemployed person can always find another job. This assumption seems flawed. While Mr. Conard makes an impressive argument that this trend over the last twenty-five or so years has increased the overall prosperity of this country,this prosperity may have come at the price of rendering many Americans largely unemployable. This issue probably lies outside the scope of this book, but perhaps Mr. Conard will apply the impressive work ethic and intellectual skills to this issue in a future book.

I recommend the book highly and strongly recommend that you read it.

Brannylv
Truly enjoyed!

Chillhunter
Yes, spot on!

Thordira
I've been uneasy about our country's path but without any concrete understanding of "why". This book gave me an understanding of specifically what has been happening.

Many have tried to capture how the economy faltered and went into what we are calling the great recession. None have even come close to Ed Conard in the detail and factual support found in this book! Conard has expertly gotten to the core problems of current economic policy and proposed well thought out solutions. He has masterfully charted for us how economic polocy has unintended results because they are made with little thoughtto their long trem effects.

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