The Courage to Act: A memoir of a crisis and its aftermath (by Ben S. Bernanke)

BookInfo

ISBN: 9780393247213	Number of Pages: 624
Publisher:  Norton	Book Title: The Courage to Act: A memoir of a crisis and its aftermath
Publication Year: 2015	Target Audience: Trade
Author: Ben S. Bernanke	Reading Age: 18+

Summary

The Courage in Act comprehensively explains Bernanke’s financial philosophy of facing risks and saving the crisis, which is an unprecedented disclosure of the inside story of economic crisis rescue, as well as his in-depth thinking and realistic consideration of financial policy.

The book records and explains the bad financial crisis and economic recession since the Great Depression, reviews Washington’s response policies from the perspective of insiders, fully discloses the details of the decision-making process, vividly depicts the personal images of the main characters, and also combs Bernanke’s thinking and reflection on financial policies and tools in the professional context.

The book records and explains the worst financial crisis and economic recession since the great depression , with insiders are reviewed from the point of view of the Washington policy response, fully discloses the details of the decision-making process, vividly depicts the personal images of the main characters, and also combs Bernanke’s thinking and reflection on financial policies and tools in the professional context.

Book Reviews

• This book describes the process of the US government and financial regulators to cope with the Great Recession in 2008, which is undoubtedly the best of its kind. (New York Times Book Review)
• This book has revealed many details, so that we can fully understand this critical period in the world economic history, which is very enlightening. (New York Times)
• The Federal Reserve has taken a series of drastic actions to avoid another Great Depression and promote the recovery of the American economy. This book explains why the Federal Reserve did so in a serious, detailed and particularly clear way. (Washington Post)
• This book describes how the Federal Reserve can turn the tide and save the world from a disaster like the Great Depression again… Not to mention what mistakes the Federal Reserve made before the crisis broke out, at least the Federal Reserve under the leadership of Chairman Bernanke saved the United States and the world from suffering again. Human beings should be grateful. (Martin Wolf, Financial Times)
• Bernanke pointed out exactly what the problem is and how to avoid similar problems in the future.(Los Angeles Times)
• This book introduces the economic thoughts of a former Federal Reserve chairman in simple terms.(News website Vox.com)

The Courage to Act is one of the Economics Prize Reading List in 2022

About the Author

Ben S. Bernanke is an American economist and former chairman of the Federal Reserve. He was born in Augusta, Georgia, USA on December 13, 1953, he received a bachelor’s degree in literature from Harvard University in 1975 and a doctor’s degree from Massachusetts Institute of Technology in 1979.

Bernanke has taught at Princeton University for 17 years and served as the dean of the Department of Economics. He has been a visiting scholar of the Federal Reserve since 1987, and worked at the Federal Reserve Bank of Philadelphia from 1987 to 1989, the Federal Reserve Bank of Boston from 1989 to 1990, and the Federal Reserve Bank of New York from 1990 to 1991 and from 1994 to 1996.

In 2002, he was appointed as the director of the Federal Reserve by Bush. In June 2005, Bernanke served as Chairman of the Council of Economic Advisers of the President. On February 1, 2006, he took over Greenspan as Chairman of the Federal Reserve.

In December 2009, Bernanke was elected the 2009 Person of the Year of Time magazine. On January 28, 2010, the Senate of the United States Congress finally voted to confirm his re-election. He took office on February 1, 2014 for a four-year term.

On October 10, 2022, Ben S. Bernanke won the Nobel Prize in Economics in 2022

The Courage to Act PDF version will come as soon as possible.

Table of Contents

Author Preface V
Foreword I can stop all this VII
Part I Overture
Chapter I Main Street
Chapter II Academic Circle
Chapter III Chairman of the Federal Reserve
Chapter IV Years in the “Master Band”
Chapter V Sparks of the Subprime Crisis
Chapter 6 Beginner
Part II Crisis
Chapter VII Preliminary Shock and Response
Chapter 8 Go One Step Up
Chapter IX The Beginning of Crisis
Chapter 10 The Tragedy of Bear Stearns
Chapter XI Fannie Mae and Freddie Mac: A Long and Hot Summer
Chapter 12 Lehman Brothers: Dam Breaks
Chapter 13 American International Group: “This makes me angry”
Chapter Fourteen Appeal to Congress
Chapter 15 “50% of people say absolutely no”
Chapter 16 A Cold Wind
Chapter XVII Transition Period
Chapter 18 From Financial Crisis to Economic Crisis
Part III Aftereffects of the crisis
Chapter 19 Quantitative easing: the end of orthodox theory
Chapter 20 Establishing a New Financial System
Chapter 21 Second round of quantitative easing: illusory dawn
Chapter 22 Walk against the Wind
Chapter 23 Withdrawal from quantitative easing
Conclusion
thank
reference material