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A Primer on Financial System Meltdown. The Economists' View

Franz Hahn

No 333, WIFO Working Papers from WIFO

Abstract: Ideologues are quick to explain the current financial meltdown: it's the markets, stupid. Economists agree but add: it's politics too, stupid. Ideologues agree but counter: first and foremost it's capitalism, stupid. Economists agree but reply: §$%&?!, stupid. This is where this short paper takes us: it makes an attempt to give a brief overview of the economists' views on the ongoing financial system crisis explaining "§$%&?!, stupid".

Keywords: financial system crisis; systemic risk; macroeconomic stability; financial regulation (search for similar items in EconPapers)
Pages: 16 pages
Date: 2008-12-01
New Economics Papers: this item is included in nep-hpe, nep-reg and nep-rmg
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