Political Bubbles: Financial Crises and the Failure of American Democracy

Princeton University Press
3
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Behind every financial crisis lurks a "political bubble"--policy biases that foster market behaviors leading to financial instability. Rather than tilting against risky behavior, political bubbles--arising from a potent combination of beliefs, institutions, and interests--aid, abet, and amplify risk. Demonstrating how political bubbles helped create the real estate-generated financial bubble and the 2008 financial crisis, this book argues that similar government oversights in the aftermath of the crisis undermined Washington's response to the "popped" financial bubble, and shows how such patterns have occurred repeatedly throughout US history.

The authors show that just as financial bubbles are an unfortunate mix of mistaken beliefs, market imperfections, and greed, political bubbles are the product of rigid ideologies, unresponsive and ineffective government institutions, and special interests. Financial market innovations--including adjustable-rate mortgages, mortgage-backed securities, and credit default swaps--become subject to legislated leniency and regulatory failure, increasing hazardous practices. The authors shed important light on the politics that blinds regulators to the economic weaknesses that create the conditions for economic bubbles and recommend simple, focused rules that should help avoid such crises in the future.

The first full accounting of how politics produces financial ruptures, Political Bubbles offers timely lessons that all sectors would do well to heed.

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About the author

Nolan McCarty is the Susan Dod Brown Professor of Politics and Public Affairs and chair of the Department of Politics at Princeton University. Keith T. Poole is the Philip H. Alston Jr. Distinguished Professor in the Department of Political Science at the University of Georgia. Howard Rosenthal is professor of politics at New York University and the Roger Williams Straus Professor of Social Sciences, Emeritus, at Princeton University.
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Additional Information

Publisher
Princeton University Press
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Published on
May 21, 2013
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Pages
368
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ISBN
9781400846399
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Language
English
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Genres
Business & Economics / Economics / General
Political Science / History & Theory
Political Science / Political Economy
Political Science / Political Ideologies / Democracy
Political Science / Political Ideologies / General
Political Science / Public Policy / Economic Policy
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Content Protection
This content is DRM protected.
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Available on Android devices
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Eligible for Family Library

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Howard Rosenthal
Insightful interviews with a Who’s Who of the world’s foremost therapists

Therapy’s Best is a lively and entertaining collection of one-on-one interviews with some of the top therapists and counselors in the world. Educator and psychotherapist Dr. Howard G. Rosenthal talks with twenty of therapy’s legends, including Albert Ellis, arguably the greatest clinical psychologist and therapist of our time; assertiveness training pioneer Robert Alberti; experiential psychotherapist Al Mahrer; and William Glasser, the father of reality therapy and choice theory. Each interview reveals insights into the therapists’ personal lives, their observations on counseling, and the helping profession in general, and their thoughts on what really works when dealing with clients in need.

The interviews found in Therapy’s Best uncover treatment strategies that are often missing from traditional textbooks, journal articles, courses, and seminars related to assertiveness training, Rational Emotive Behavior Therapy (REBT), marriage and family counseling, transactional analysis, psychoanalysis, suicide prevention, voice therapy, experiential psychotherapy, and Emotion Focused Therapy (EFT). Conversations with the “best and brightest” (including two recipients of the American Psychological Association’s Division of Psychotherapy’s “Living Legends” award) reveal why these therapists are such effective helpers, what makes their theories so popular, and most important, what makes them tick. This unique book lets you “rub elbows” with these consummate professionals and learn more about their theories, ideas, and experiences.

Therapy’s Best includes interviews with:
Dr. Albert Ellis—creator of Rational Emotive Behavior Therapy (REBT) and APA Division of Psychotherapy “Living Legend”
Dr. Edwin Schneidman—the foremost expert on suicide prevention, suicidology, and thanatology
Richard Nelson Bolles—author of What Color Is Your Parachute?
Dr. Dorothy and Dr. Ray Bevcar—husband and wife therapists who write textbooks on marriage counseling
Dr. Al Mahrer—father of experiential psychotherapy and APA Division of Psychotherapy “Living Legend”
Les Greenberg—father of Emotion-Focused Therapy (EFT)
Muriel James—co-author of Born to Win
and many more!Therapy’s Best is a must read for professionals who practice counseling and psychotherapy, students preparing to do likewise, and anyone else with an interest in therapy—and the people with provide it.
Howard Rosenthal
The revival of ideology, which began early in the second half of the last century, has led to reconsideration of the following questions: What underlies the pattern of the rise and decline of the ideological mode of thought? What leads young intellectuals to search for an ideology? What accounts for the changes in ideological fashion over time and nation, and shifts from one set of philosophical tenets to another? Who indeed are the ""intellectuals?""Studies of ideology have tended to range themselves for or against particular viewpoints, or have concerned themselves with defining perspectives. The purpose of this book is to examine the common causal patterns in the development of various differing ideologies. Feuer finds that any ideology may be said to be composed of three ingredients: The most basic and invariant is some form of Mosaic myth. Every ideology also has its characteristic philosophical tenets spreading from left to right, which conform to the cycle of ideas; and, finally, an ideology must be taken up by some section of the population who can translate it into action.Intellectuals in generational revolt find in some version of the ideological myth a charter and dramatization of their emotions, aims, and actions. Since each generation of intellectuals tends to reject its predecessors' doctrines, a law of intellectual fashion arises the alternation of philosophical doctrines. Ideology has inevitably made for an authoritarian presumption on the part of master-intellectuals and marginal ones and assumes their antagonism to objective truth and science. It is Feuer's contention that only when intellectuals abandon ideology in favor of science or scholarship will an unfortunate chapter in the history of human unreasonbe overcome.
Howard Rosenthal
The revival of ideology, which began early in the second half of the last century, has led to reconsideration of the following questions: What underlies the pattern of the rise and decline of the ideological mode of thought? What leads young intellectuals to search for an ideology? What accounts for the changes in ideological fashion over time and nation, and shifts from one set of philosophical tenets to another? Who indeed are the ""intellectuals?""Studies of ideology have tended to range themselves for or against particular viewpoints, or have concerned themselves with defining perspectives. The purpose of this book is to examine the common causal patterns in the development of various differing ideologies. Feuer finds that any ideology may be said to be composed of three ingredients: The most basic and invariant is some form of Mosaic myth. Every ideology also has its characteristic philosophical tenets spreading from left to right, which conform to the cycle of ideas; and, finally, an ideology must be taken up by some section of the population who can translate it into action.Intellectuals in generational revolt find in some version of the ideological myth a charter and dramatization of their emotions, aims, and actions. Since each generation of intellectuals tends to reject its predecessors' doctrines, a law of intellectual fashion arises the alternation of philosophical doctrines. Ideology has inevitably made for an authoritarian presumption on the part of master-intellectuals and marginal ones and assumes their antagonism to objective truth and science. It is Feuer's contention that only when intellectuals abandon ideology in favor of science or scholarship will an unfortunate chapter in the history of human unreasonbe overcome.
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