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"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
Deal "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
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