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Readership: Students and scholars of macroeconomics and finance, as well as general readers interested in how the economy works, the causes and solutions to the recent financial crisis, and how to avoid future
Amar Bhidé, Schmidheiny Professor at the Fletcher School of Law and Diplomacy,, Tufts University. Professor of Business
Amar Bhidé is Schmidheiny Professor at the Fletcher School of Law and Diplomacy, Tufts University.
"a valuable contribution to our understanding of financial markets." - Mark Calabria, Barron's
"I greatly enjoyed this book. It covers a lot of ground and might, therefore, seem daunting. Significantly, though, I found it an increasingly compelling read and concluded that it delivers an impressive and valuable contribution to what ought to remain an absolutely central issue from the perspective of the proper functioning of the plumbing of our economic system and, therefore, our future well-being." - Ian Harwood, Chief Economist, Evolution Securities, The Society of Business Economists
"a very impressive effort, full of fascinating connections and shrewd observations" - Robert Teitelman, The
"Events have raised large questions about the academic theories supporting the concept that our heavily 'engineered' financial markets are self-disciplined and efficiently allocate capital. Amar Bhide's skeptical analysis should stimulate basic reconsideration." - Paul Volcker, chairman of the Economic Recovery Advisory Board and former chairman of the Federal Reserve
"This great book, Amar Bhide's third in a decade, is an essential and distinct contribution in our hour of need. It first reformulates how modern capitalism does what it does best - innovation. Then, in high gear, it shows us how our capitalism has been brought down by a thousand cuts: the idea that rational investors always know precisely what they're doing, the perversion of
the banking industry, the errors of deregulation and the striking errors in some new regulations. A Call for Judgment is not a cry for some auto da fe on Wall Street but rather a brilliant and reasoned plea for a basic revamp of our capitalist institutions so as to regain the dynamism of old." - Edmund S. Phelps, McVickar Professor of Political Economy and Director of the Center on Capitalism and Society, Columbia University, and 2006 Nobel laureate in Economics
"A Call for Judgment is an intellectual firecracker - full of wisdom, common sense, and hard-hitting reform proposals. Few other writers, if any, can match Amar Bhide's deep knowledge of economic theory and historical detail with his first-hand experience in both entrepreneurship and real-world finance.
It's hard to imagine a more useful analysis or guide for what must now be done." - Thomas K. McCraw, Straus Professor of Business History, Emeritus, Harvard Business School, author of Prophet of Innovation: Joseph Schumpeter and Creative Destruction
"A Call for Judgment presents many interesting insights on necessary innovations in the world of today and tomorrow. Amar Bhide prompts also some conclusions for improving the rules and ways for future banking-supervision in the United States. This book is a very positive contribution to a necessary debate." - Hans Tietmeyer, former president, Deutsche Bundesbank
"Amar Bhide's analysis of the economic crisis that exploded on us a few years ago is extremely informative and thought provoking.
He writes from an experience both in business, where he could see what was going on around him, and in academia, where he has had the time to study and reflect on what happened and why. Bhide's discussion of what we need to do to avoid a recurrence is illuminating and persuasive." - Richard R. Nelson, George Blumenthal Professor of International and Public Affairs, Business, and Law, Emeritus, Columbia University and winner of the 2006 Honda Prize and co-author of An Evolutionary Theory of Economic Change
Part 1: Ordering the Innovation Game: Beyond Decentralization and Prices
1.: The Decentralization of Judgment
2.: The Halfway House - Coordination through Organizational Authority
3.: Dialogue and Relationships
4.: Reflections in the Financial Mirror
Part 2: Why it Became So
5.: All-Knowing Beings
6.: Judgment Free Finance
7.: Storming the Derivative Front
8.: Liquid Markets, Deficient Governance
9.: Financiers Unfettered
10.: The long slog to stable banking
11.: Not there Yet
12.: Finally on Track
13.: Derailed by Deregulation
14.: Restoring Real Finance
Read an article byt Amar Bhide and Edmund Phelps 'How the IMF's business model sabotages properly functioning capitalism' Read The Root of All Sovereign-Debt Crises by Amar Bhidé and Edmund S. Phelps on Project Syndicate Read the Society of Business Economists in full Read the les affairs.com review in full Watch an interview with Amar Bhidé by Robert Johnson, executive director, INET Read 'We need new models in an uncertain world' by John Authers in the FT.com Read the review by Robert Teitelman in The Deal here Read an article by Amar Bhidé in The New York Times The Upside of Spending Huffington Post list's Bhidé's A Call For Judgment, one of Best Books for 2010 Read To fix our banks we must go back to the 70s by Amar Bhidé in the FT 'Why banking is structurally incapable of efficiency' by To fix our banks we
must go back to the 70s 'How private equity can provide the funding small business needs' by Tony Jackson, Financial Times Read 'The Trouble With Robo-Lending' by Amar Bhidé in The Wall Street Journal