How Long to Read Misunderstanding Financial Crises

How Long Does it Take to Read Misunderstanding Financial Crises?

It takes the average reader 5 hours and 3 minutes to read Misunderstanding Financial Crises by Gary B. Gorton

Assuming a reading speed of 250 words per minute. Learn more

Description

Before 2007, economists thought that financial crises would never happen again in the United States, that such upheavals were a thing of the past. Gary B. Gorton, a prominent expert on financial crises, argues that economists fundamentally misunderstand what they are, why they occur, and why there were none in the U.S. from 1934 to 2007. Misunderstanding Financial Crises offers a back-to-basics overview of financial crises, and shows that they are not rare, idiosyncratic events caused by a perfect storm of unconnected factors. Instead, Gorton shows how financial crises are, indeed, inherent to our financial system. Economists, Gorton writes, looked from a certain point of view and missed everything that was important: the evolution of capital markets and the banking system, the existence of new financial instruments, and the size of certain money markets like the sale and repurchase market. Comparing the so-called "Quiet Period" of 1934 to 2007, when there were no systemic crises, to the "Panic of 2007-2008," Gorton ties together key issues like bank debt and liquidity, credit booms and manias, moral hazard, and too-big-too-fail--all to illustrate the true causes of financial collapse. He argues that the successful regulation that prevented crises since 1934 did not adequately keep pace with innovation in the financial sector, due in part to the misunderstandings of economists, who assured regulators that all was well. Gorton also looks forward to offer both a better way for economists to think about markets and a description of the regulation necessary to address the future threat of financial disaster.

How long is Misunderstanding Financial Crises?

Misunderstanding Financial Crises by Gary B. Gorton is 296 pages long, and a total of 75,776 words.

This makes it 100% the length of the average book. It also has 93% more words than the average book.

How Long Does it Take to Read Misunderstanding Financial Crises Aloud?

The average oral reading speed is 183 words per minute. This means it takes 6 hours and 54 minutes to read Misunderstanding Financial Crises aloud.

What Reading Level is Misunderstanding Financial Crises?

Misunderstanding Financial Crises is suitable for students ages 12 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Misunderstanding Financial Crises?

Misunderstanding Financial Crises by Gary B. Gorton is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

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