Randall Kroszner

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Book Review

Reforming U.S. Financial Markets

FEBRUARY 06, 2013 by MARK CALABRIA

Reforming U.S. Financial Markets, by Randall Kroszner and Robert Shiller, intends to offer views of the housing crisis from differing "ends of the spectrum." Instead it illustrates the narrowness of that spectrum and how little attention mainstream analysis pays to the role of government interventions in distorting markets and setting up crises in the first place.

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December 2014

Unfortunately, educating people about phenomena that are counterintuitive, not-so-easy to remember, and suggest our individual lack of human control (for starters) can seem like an uphill battle in the war of ideas. So we sally forth into a kind of wilderness, an economic fairyland. We are myth busters in a world where people crave myths more than reality. Why do they so readily embrace untruth? Primarily because the immediate costs of doing so are so low and the psychic benefits are so high.
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