Anton Brender Livres

The information and decision-making processes taking place within the financial system play a key role in determining how credit is allocated, but also how the risks implied by those credits are borne. This study points at what went wrong during the credit boom of the 2000s, which was the counterpart to a huge accumulation of savings, concentrated mainly in emerging economies.

Since the 1970s, the American economy has experienced increasing difficulty in generating social progress. Worse still, over the past twenty years, signs of actual regression are becoming more and more numerous. How can this paradox be explained? Answering this question is the thread running throughout the chapters of this book.