John's Reviews > A Failure of Capitalism: The Crisis of '08 and the Descent Into Depression

A Failure of Capitalism by Richard A. Posner
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's review
Nov 29, 2011

really liked it

Posner's conclusions about the financial crises starting in 2008 stake out an independent position that will please neither liberals nor conservatives: financial businesses, facing game theoretic pressures, are rationally forced by the market to take riskier positions in low interest rate and low regulatory conditions, and therefore only stronger regulatory conditions can prevent asset bubbles. Agree or not, it is a closely reasoned position arguing persuasively for more stringent financial regulation in the future.

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