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Masters of the Universe, Slaves of the Market

Masters of the Universe, Slaves of the Market

by Andrew Hindmoor (Author), Andrew Hindmoor (Author), Stephen Bell (Author)

  • New

    Hardcover 2015

    $58.78
Synopsis

Stephen Bell and Andrew Hindmoor compare banking systems in the U.S. and UK to those of Canada and Australia and explain why the system imploded in the former but not the latter. Canadian and Australian banks were able to make profits through traditional lending practices, unlike their competition-driven, risk-taking U.S. and UK counterparts.

$58.78

Quantity

20+ in stock

More Information

Format: Hardcover
 Pages: 400
 Publisher: Harvard University Press
Published: 24 Mar 2015
ISBN 10: 0674743881
ISBN 13: 9780674743885

Media Reviews
An extraordinarily good book that combines a superb command of the material, with real and vivid detail, and a very clear and thoughtful conceptual apparatus, lightly delivered.--Tony Payne, University of Sheffield
In this account of the financial crisis of 2008-2009, two distinguished professors of politics, Bell and Hindmoor, compare banking systems in the U.S. and UK to those of Canada and Australia. Two important contributions lead this reviewer to recommend the book over the numerous volumes about the global financial crisis that have already surfaced. First, the authors elaborate on and attempt to explain the contrast between the unstable financial institutional systems in the U.S. and UK versus the far more stable banking environments in Canada and Australia. Second, the authors document and try to clarify why some financial institutions, even in the U.S. and the UK, managed to survive reasonably well, while a few in Canada and Australia ran into trouble. The authors attribute the relative success of some financial institutions to their superior management culture and differences in bankers' beliefs and incentives. This reviewer would suggest that luck also played an inordinate role. A welcome addition to the literature.--J. Prager Choice (07/01/2015)