000			02242nam a2200169Ia 4500
020			_a978-8172239732
082			_a330.90511 RAJ
100			_aRajan, Raghuram G
245			_aFault lines: how hidden fractures still threaten the world economy
260			_bHarper Collins _aLondon _c2010
300			_ax,274 p. _b 24 cm ; Hard Bound
500			_aRs.499/-
505			_a Let them eat credit -- Exporting to grow -- Flighty foreign financing -- A weak safety net -- From bubble to bubble -- When money is the measure of all worth -- Betting the bank -- Reforming finance -- Improving access in america -- The fable of the bees replayed.
520			_aEconomist Raghuram Rajan warned about the global financial crisis long before it hit, but few listened. Now, as the world struggles to recover, it's tempting to blame the crisis on just a few greedy bankers who took irrational risks and left the rest of us to foot the bill. In "Fault Lines", Rajan argues that serious flaws in the economy are also to blame, and warns that a potentially more devastating crisis awaits us if they aren't fixed. Can we risk not listening to him a second time? Rajan shows how the individual choices that collectively brought about the economic meltdown - made by bankers, government officials, and ordinary homeowners - were rational responses to a flawed global financial order in which the incentives to take on risk are incredibly out of step with the dangers those risks pose. He traces the deepening fault lines in a system overly dependent on American consumption to power the world economy and stave off a global downturn; a system where America's thin social safety net has created tremendous political pressure to keep job creation robust, because jobs are the primary provider of health and other benefits; and, where the U.S. financial sector, with its skewed incentives, is the critical but unstable link between an overstimulated America and an underconsuming world. Rajan demonstrates how inequalities in U.S. incomes, education, and health care are putting all of us into deeper financial peril, and he outlines sensible reforms to ensure a more stable world economy and to restore lasting prosperity
650			_aEconomics
942			_cBK
999			_c100727 _d100727