Fragile Economy

In this age of austerity everybody is talking about economy. From Americas to the Europe and from Asia to Africa, world economy is experiencing a downward trend. While peoples are on the streets against these austerity measures, financial crisis is spreading from one country to another country and proving tobe the no. 1 agenda of politicians around the world. This financial crisis which is believed to be ignited from US mortgage market now has spread beyond the border of United States. This book is focused particularly on the base point of this crisis which is United States. As we know that this crisis is the result of multiple causes this book covers all these causes which generated, worsen and prolonged the crisis. From housing boom to busts, from the role of Credit rating agencies to the role of FED and from Financial innovations to the lack of transparency and accountability Dr. Aziz has discussed beautifully every cause in this book. In the later part the burning question of whether this is a Minsky moment or not has been discussed. So for all those who want to know the answer of "Why this happened" this book is a must read master piece.