Book of the Month

“‘The Origin of Financial Crises’ provides a compelling analysis of the forces behind today’s economic crisis. In a series of disarmingly simple arguments George Cooper challenges the core principles of today’s economic orthodoxy, explaining why financial markets do not obey the efficient market principles described in today’s economic textbooks but are instead inherently unstable and habitually crisis prone. The author describes the evolution of our modern monetary system, explaining along the way how financial instability emerged and why this instability required the development of central banking. Uniquely, he presents tangible policy proposals aimed at helping break out of the seemingly endless procession of damaging boom-bust cycles.”