Duncan’s Economic Blog

Reading lists

Posted in Uncategorized by duncanseconomicblog on March 26, 2009

Labour and Capital notes that the FSA, in the Turner Review, has provided a good reading list for the crisis.

Here it is:

John Maynard Keynes – General Theory (1936).
Hyman Minsky – Stabilising an Unstable Economy (1986).
Charles Kindelberger – Manias, panics and markets (1978).
Robert Shiller – Irrational Exuberance (2000)
An institutional theory of momentum and reversal – Vayanos and Woolley LSE, (November 2008).
George Soros – The new paradigm for financial markets (2008)
Kahneman, Slovic and Tversky – Judgment under uncertainty: heuristics and bias(1982)
The Great Contraction in Friedman and Schwartz – A monetary history of the United States 1867-1960 (1963).
Benoit Mandelbrot – The Misbehaviour of Markets(2004)
Nassim Nicholas Taleb – The Black Swan: the Impact of the Highly Improbable (2007)
Andrew Haldane – Why banks failed the stress test (February 2009)
Frank Knight – Risk, Uncertainty,and Profit (1921)
Adair Turner – Uncertainty and Risk: reflections on a turbulent year
Daniel Tarullo – Banking on Basel (2008)

There’s a couple there I don’t know and will try and look up.

If I was to strongly recommend one, it’d be Minsky’s ‘Stabilising an unstable economy‘.

Minsky is a vastly unappreciated economist, well worth a read. Good wiki article here.

Does anyone have any other good reading suggestions?

4 Responses

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  1. newmania said, on March 26, 2009 at 11:48 pm

    Just read the last few posts you think we can borrow lots more , it doesn’t matter if the currency slides and that pumping demand into the economy will set us straight , I think. God knows . We do know that paying it back is going to be horrendous and take a very .long time .We do know that taxes predicted are never collected whereas money gone is certainly gone . We do know that we are still in an appallingly anti business environment for SMEs ( and that I do know about ), and the Public Sector continues to swell as Private sector jobs are lost.
    The other thing I notice is that you seem to think Supply is irrelevant . I would have thought that Supply was rather important and that without parallel measures to allow Supply to grow all that will happen is inflation if not stagflation

    We`ll see

    • duncanseconomicblog said, on March 26, 2009 at 11:52 pm

      Excellent suggestion Newmania. I’ll check in WH Smith.

  2. newmania said, on March 27, 2009 at 12:48 am

    I

  3. Alex said, on March 27, 2009 at 12:02 pm

    Taxes predicted are never collected

    I was pretty certain I’d be paying 20% on my income above the personal allowance this year, and y’know, they collected mine. Perhaps you should call the Inland Revenue? Or perhaps I should call them?


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