A Failure of Capitalism by Richard A. Posner

Posner is not explain ing 'a' system but is seeking to analyze activity of that system. The best explanation for the semantics in the title choice by Posner is that capitalism in A Failure of Capitalism refers to the activities of the eco nomic system and not to the economic system itself. That's why you need government regulation of banking,' he said.įor more of Posner's thoughts about the government's response to the economic crisis see, The Becker-Posner Blog. to be considering Posner's reputation and expertise. 'You can't expect individual firm to be worrying about what his collapse will do to the rest of the economy. A Failure of Capitalism Read this book now Share book eBook - ePub A Failure of Capitalism The Crisis of '08 and the Descent into Depression Richard A. The free-market structure, Posner continued, encourages bankers to maximize profits while not worrying about the impact to the greater economy. Depression, Cambridge, Mass: Harvard University Press, 2009, 346 pp. Posner said, 'If you're worried that lions are eating too many zebras, you don't say to the lions, ‘You're eating too many zebras.' You have to build a fence around the lions. Posner, A Failure of Capitalism: The Crisis of 08 and the Descent into. He also said that he believes greater regulation of the financial markets is warranted. Court of Appeals for the Seventh Circuit and a prolific writer, told Marcus Baram for The Huffington Post that the current and severe economic downturn helped spurs his rethinking on capitalism. A Failure of Capitalism: The Crisis of ’08 and the Descent into Depression Author Richard A. As noted in the interview, Posner's changing thoughts on capitalism are expounded upon in a forthcoming book, A Failure of Capitalism. Posner ponders his longstanding support of free-market capitalism. In an interview with The Huffington Post, federal appeals court judge Richard A. Truth, Racial Healing, and Transformation.Technology Law and Intellectual Property.Regulation and the Administrative State.This book will make a serviceable study of the current crisis, but it does not serve its intended audience well in the meantime. All good topics, thoroughly and thoughtfully presented, but much of Posner's material is already woefully out of date. Quickie explanations of subprime mortgages and the credit crunch orient the reader, and Posner addresses the takeaway lessons about capitalism and government, the puzzling lack of foresight from the economist community, the apportioning of blame and the resulting future of conservatism.

He makes a near-heroic attempt to delve into the roots of the current crisis, citing some of the harder questions: how did it happen? why was it not anticipated? how is the government responding? A great deal of ground is covered, and the book takes the form of a high-altitude survey, assessing all the major points without getting bogged down in detail. Posner, A Failure of Capitalism: The Crisis of 08 and the Descent into Depression (Harvard Univ. Is uncharacteristically dry in this dense book that states flatly that we are in a recession only because we are too frightened to call it a depression.

A Failure of Capitalism by Richard A. Posner