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How the Economy Works
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How the Economy
Works
Confidence, Crashes and
Self-Fulfilling Prophecies
ROGER E. A. FARMER
1
2010
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3
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Copyright © 2010 by Oxford University Press, Inc.
Published by Oxford University Press, Inc.
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Library of Congress Cataloging-in-Publication Data
Farmer, Roger E. A.
How the economy works : confidence, crashes and self-fulfilling prophecies / Roger E. A. Farmer.
p. cm.
Includes bibliographical references and index.
ISBN 978-0-19-539791-8
1. Free enterprise. 2. ary policy. 3. Economic policy.
I. Title.
2010
339—dc22 2009032289
987654321
Printed in the United States of America
on acid-free paper
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Contents
Preface xi
Chapter 1 Introduction 1
The Collapse of Northern Rock 1
Classical and Keynesian Economics 3
The Size of Government 5
Efficient Markets 6