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Title: When All Else Fails: Government As the Ultimate Risk Manager by David A. Moss ISBN: 0-674-00757-3 Publisher: Harvard Univ Pr Pub. Date: June, 2002 Format: Hardcover Volumes: 1 List Price(USD): $42.00 |
Average Customer Rating: 5 (1 review)
Rating: 5
Summary: One of the best books on economic policy out there
Comment: I bought this book on the strength of a review in The Economist and was not disappointed. With policies as varied as limited liability, central banking, deposit insurance, and Social Security, American legislators transformed government into an insurer of last resort. Sometimes they shift risk from prospective victims to those better able to afford the loss (product liability); at other times they spread catastrophic risks over the whole tax base (flood insurance). The book charts the expansion of government in the United States from the late 19th century to its zenith in the late 1970s. The author answers the objections of the Chicago and Austrian schools - Becker, Hayek, Mises, and the others - in convincing fashion thanks to its moderate tone and extensive research. The prose is clear, surprising for a book dealing with such complex subject matter. The chapter on the emergence of limited liability corporations is particularly strong. Unfortunately, the chapter on product liability could have used a bit more skepticism. Few readers will share the author's view that tort lawyers are an unalloyed blessing. The author sidesteps many of the problems we now face with exploding damage awards and wide discrepancies in the awards handed down in various jurisdictions. Nor does he grapple with the consequences these problems impose for medical research and the US insurance industry.
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Title: The New Financial Order : Risk in the 21st Century by Robert J. Shiller ISBN: 0691091722 Publisher: Princeton Univ Pr Pub. Date: 02 April, 2003 List Price(USD): $29.95 |
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Title: Embracing Risk: The Changing Culture of Insurance and Responsibility by Tom Baker, Jonathan Simon ISBN: 0226035190 Publisher: University of Chicago Press Pub. Date: February, 2002 List Price(USD): $19.00 |
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Title: The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else by Hernando Desoto, Hernando de Soto, Hernando de Soto ISBN: 0465016154 Publisher: Basic Books Pub. Date: 08 July, 2003 List Price(USD): $16.95 |
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Title: The Free-Market Innovation Machine : Analyzing the Growth Miracle of Capitalism by William J. Baumol ISBN: 0691096155 Publisher: Princeton Univ Pr Pub. Date: 01 April, 2002 List Price(USD): $55.00 |
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Title: Public Choice III by Dennis C. Mueller ISBN: 0521894751 Publisher: Cambridge University Press Pub. Date: 17 February, 2003 List Price(USD): $45.00 |
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