Political Bubbles: Financial Crises and the Failure of American Democracy
Nolan McCarty,Keith T. Poole,Howard Rosenthal
Political Bubbles: Financial Crises and the Failure of American Democracy
Nolan McCarty,Keith T. Poole,Howard Rosenthal
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 creat
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