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?