Political Bubbles: Financial Crises and the Failure of American Democracy by Nolan McCarty, Keith T. Poole and Howard Rosenthal
Published By: Princeton and Oxford: Princeton University Press ISBN: 978-0-691-14501-3 Date of Publication: 2013
Book Review Detail
Richard Sylla of New York University and NBER
Review DOI: 10.1257/jel.52.1.211.r11 Review Pages: 229-31
Book Review Abstract
Richard Sylla of New York University and NBER reviews, "Political Bubbles: Financial Crises and the Failure of American Democracy" by Nolan McCarty, Keith T. Poole and Howard Rosenthal. The Econlit abstract of this book begins: "Explores the role of political bubbles and their dynamics in the 2008 financial crisis and in crises of the past. Discusses bubble expectations; ideology; interests; institutions; the political bubble of the crisis of 2008; historical lessons of the response to pops; the pop of 2008; 'pop'ulism; and how to waste a crisis. McCarty is Susan Dod Brown Professor of Politics and Public Affairs and Chair of the Department of Politics at Princeton University. Poole is Philip H. Alston Jr. Distinguished Professor in the Department of Political Science at the University of Georgia. Rosenthal is Professor of Politics at New York University and Roger Williams Straus Professor of Social Sciences, Emeritus, at Princeton University."
D02: Institutions: Design, Formation, and Operations D72: Models of Political Processes: Rent-seeking, Elections, Legislatures, and Voting Behavior E32: Business Fluctuations; Cycles E44: Financial Markets and the Macroeconomy G01: Financial Crises