Financial Crisis

Before the 2008 financial crisis: increasing or decreasing regulation?

In my “Where are all those free-market economists who caused the financial crisis?”, I cited survey results showing that very few professional economists are deregulation advocates, and I cited data indicating an increase in regulation in the lead-up to the crisis. Here is Regdata’s more recent “Did Deregulation Cause the Financial Crisis? Examining a Common

Before the 2008 financial crisis: increasing or decreasing regulation? Read More »

À procura de um culpado: “A desregulamentação causou a crise financeira”

Você já ouviu a afirmação: “a desregulamentação causou a crise financeira”. Nos anos que antecederam a 2008, diz a história, maus economistas convenceram maus políticos a desregularem os setores bancário e financeiro da economia, e maus capitalistas desfrutaram de uma orgia de ganância que fez com que o sistema enlouquecesse. Os prêmios Nobel Joseph Stiglitz

À procura de um culpado: “A desregulamentação causou a crise financeira” Read More »

Subprime mortgage crisis — history flowchart

Here is a simplified flowchart, developed for my business ethics courses, reflecting my understanding of subprime mortgages’ contribution to the crisis. Let me emphasize that this is only about the subprime contribution of the overall crisis. Fannie Mae and Freddie Mac enabled much spillover into non-subprime mortgage sectors, government-set capital requirements and other regulations enabled

Subprime mortgage crisis — history flowchart Read More »

APEE panel on the ethics of the financial crisis

At this year’s APEE conference, I am chairing a session on “Ethics and the Financial Crisis.” The rationale for the session: Many conferences and debates are focusing on the economics and politics of the crisis, but much less attention is being focused on the core ethics issues involved. Here are the participants and the titles

APEE panel on the ethics of the financial crisis Read More »