Advertisement

Topological Economic Theory

  • Frederick Betz
Chapter
Part of the SpringerBriefs in Economics book series (BRIEFSECONOMICS)

Abstract

We recall that one of the problems with banking regulation has been its post-facto rather than preemptive mode—fixing bank panics after they occur rather than preventing them. And we recall that this was particularly true of the 2007 global bank panic. Binyamin Appelbaum wrote: “The Fed (Federal Reserve System) began 2007 still deeply immersed in complacent disregard for problems in the housing market. Fed officials knew that people were losing their homes. They knew that subprime lenders were blinking out of business with every passing week. But they did not understand the implications for the broader economy… August 2007 was the month that the Fed began its long transformation from somnolence to activism.” (Appelbaum 2013)

Keywords

Financial Market Partial Model Capital Asset Financial Bubble Societal System 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

References

  1. Appelbaum, B. (2013, January 18). Days before 2007 crisis, fed officials doubted need to act. New York Times.Google Scholar
  2. Bernanke, B. S. (2007, May 15). Regulation and financial innovation. 2007 Financial markets conference, Sea Island, Georgia. Federal Reserve Bank of Atlanta.Google Scholar
  3. Davies, H. (2012, August 27). Economics in denial about its academic merit. The Korea Herald.Google Scholar
  4. Fisher, I. (1933, October). The debt-deflation theory of the Great Depression. Econometrica.Google Scholar
  5. Forrester, J. (1961). Industrial dynamics. Waltham, MA: Pegasus Communications.Google Scholar
  6. Giles, C. (2010, April 10). Financial crisis exposed flaws in economics. Financial Times.Google Scholar
  7. Giles, C. (2012, May 2). King admits failing to ‘shout’ about risk. Financial Times.Google Scholar
  8. Krugman, P. (2009, March 17). The B Word. The New York Times.Google Scholar
  9. Leontief, W. (1986). Input-output economics (2nd ed.). Oxford: Oxford University Press.Google Scholar
  10. McCulley, P. (2009, February). Saving capitalistic banking from itself. PIMCO.Google Scholar
  11. Minsky, H. P. (1982). Can ‘it’ happen again? Essays on instability and finance. Armonk, NY: M.E. Sharpe Inc.Google Scholar
  12. Minsky, H. (1993). Comment on Ben Bernanke, ‘Credit in the Macro-economy’. Hyman P. Minsky Archive, Paper 361. (http://digitalcommons.bard.edu/hm_archive/361)
  13. Ohno, T. (1988). Toyota production system. Portland, OR: Productivity Press.Google Scholar
  14. Porter, M. (1985). Competitive strategy. New York: The Free Press.Google Scholar
  15. Steele, L. W. (1989). Managing technolgy. New York: McGraw-Hill.Google Scholar
  16. Whalen, C. J. (2012). Post-Keynesian Institutionalism after the Great Recession. Working Paper No 724, Levy Economics Institute of Bard College. http://www.leveyinstitute.org

Copyright information

© Springer International Publishing Switzerland 2014

Authors and Affiliations

  • Frederick Betz
    • 1
  1. 1.Portland State UniversityPortlandUSA

Personalised recommendations