Gambling with Other People’s Money
Gambling with Other People’s Money

Gambling with Other People’s Money

How Perverse Incentives Caused the Financial Crisis


112 Pages, 5.5 x 8.5

Formats: Paperback, Mobipocket, ebook: PDF, ebook: EPUB

Paperback, $9.95 (CA $12.95) (US $9.95)

Publication Date: January 2019

ISBN 9780817921859


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What caused the Financial Crisis of 2008? While government mandates and private sector mistakes did contribute to the crisis and can be blamed at least in part for what happened, this book takes a different approach. Russ Roberts argues that the true underlying cause of the mess was the past bailouts of large financial institutions that allowed these institutions to gamble carelessly because they were effectively using other people's money. The author warns that despite the passage of Dodd-Frank, it is widely believed that we have done nothing to eliminate 'Too Big to Fail.' That perception allows the largest financial institutions to continue to gamble with taxpayer money.

Author Biography

Russ Roberts is the John and Jean De Nault Research Fellow at Stanford University's Hoover Institution. He is the host of the podcast, EconTalk.