Some Suggested Readings

My book contains a short list of suggested readings, which I hereby supplement with (1) a list of additional books and articles that are both accessible to nonexperts and helpful to an understanding of the current economic mess, and (2) a very short list of blogs or other online sources that I find helpful in keeping up with events and ideas relating to the mess.


Books and Articles:


Acharya, Viral V., Irvind Gujral, and Hyun Song Shin, "Dividends and Bank Capital in the Financial Crisis of 2007-2008" (Stern School of Business, New York University, March 2009).


Axilrod, Stephen H., Inside the Fed: Monetary Policy and Its Management, Martin through Greenspan to Bernanke (2009).


Bewley, Truman E., Why Wages Don't Fall during a Recession (1999).


Brunnermeier, Markus K., "Deciphering the Liquidity and Credit Crunch 2007-2008," Journal of Economic Perspectives, Winter 2009, p. 77.


Dillar, Dudley, The Economics of John Maynard Keynes: The Theory of a Monetary Economy (1948).


Feldstein, Martin, "The Risk of Economic Crisis: Introduction," in The Risk of Economic Crisis 1 (Martin Feldstein ed. 1991).


International Monetary Fund, Global Financial Stability Report: Responding to the Financial Crisis and Measuring Systemic Risks (World Economic and Financial Surveys, Apr. 2009).


Keynes, J. M., "The General Theory of Employment," 51 Quarterly Journal of Economics 158 (1937).


Minsky, Hyman P., John Maynard Keynes (1975)


Restoring Financial Stability: How to Repair a Failed System (Viral V. Acharya and Matthew Richardson eds. 2009).


Stern, Gary H., and Ron J. Feldman, Too Big to Fail: The Hazards of Bank Bailouts (2004).


Swagel, Phillip, "The Financial Crisis: An Inside View" (Brookings March 2009).


Symposium: "The Mortgage Meltdown, the Economy, and Public Policy," The B.E. Journal of Economic Analysis & Policy, vol. 9, issue 3 (2009), (visited Mar. 28, 2009).


Taylor, John B., Getting off Track: How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis (2009).


Walsh, Carl E., Monetary Theory and Policy (2d ed. 2003).


Blogs and Other Online Sources (and I would be grateful for further suggestions):


Baseline Scenario, The,


Bloomberg Press,


Calculated Risk,




Economics and Politics,


Greg Mankiw's Blog,
Presented by

Richard A. Posner

Richard Posner is an author and federal appeals court judge. He has written more than 2500 published judicial opinions and continues to teach at the University of Chicago Law School. More

Richard A. Posner worked for several years in Washington during the Kennedy and Johnson Administrations. He worked for Justice William J. Brennan, Jr, the Solicitor General of the U.S., Thurgood Marshall, and as general counsel of President Johnson's Task Force on Communications Policy. Posner entered law teaching in 1968 at Stanford and became professor of law at the University of Chicago Law School in 1969. He was appointed Judge of the U.S. Court of Appeals for the Seventh Circuit in 1981 and served as Chief Judge from 1993 to 2000. He has written more than 2500 published judicial opinions and continues to teach at the University of Chicago Law School. His academic work has covered a broad range, with particular emphasis on the application of economics to law. His most recent books are How Judges Think (2008), Law and Literature (3d ed. 2009), A Failure of Capitalism: The Crisis of '08 and the Descent into Depression (2009). He has received the Thomas C. Schelling Award for scholarly contributions that have had an impact on public policy from the John F. Kennedy School of Government at Harvard University, and the Henry J. Friendly Medal from the American Law Institute.

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