In: Uncategorized
22 Jul 2006
My interest in anti-growth sentiment started while working on Cowardly Capitalism, my book on the global financial markets. I began to realise that the critics of the markets often assumed that financial instability was a result of economic dynamism. If only the economy was less dynamic, they seemed to be arguing, then the financial “casino” would be less of a problem. I came to the opposite conclusion. For me the rise of the financial markets was largely a symptom of economic atrophy.
The book was initially spurred on by the 1997-8 Asian financial crisis. Many commentators, some implicitly some explicitly, argued that the crisis was a result of the previous period of rapid economic growth in the region. To me, in contrast, financial instability was a result of a combination of economic lethargy in the West and risk aversion. The solution was not a new “international financial architecture” to use the favoured phrase of the time. Instead it was important to counter risk aversion and promote further growth.
Welcome to danielbenami.com.
To contact me email ferraris AT danielbenami.com
I also have a Facebook fan page.
Follow me on Twitter at @danielbenami.
Ferraris For All, my book defending economic progress, has just been published in an extended edition in paperback and on Kindle with a new chapter on the inequality debate.
Amazon.com, Amazon.co.uk, Amazon.ca, Amazon.de,
Please see the Buy the book page for more details.