![]() ![]() You’ve spoken of the subprime mortgage situation in the US as being a symptom but not a cause of the financial crisis. ![]() Why do you compare central elements of our financial system to "alchemy"? ![]() That makes it much easier to explain many aspects of what went wrong in our economy, but also to engage them in a debate as to what we should do in the future. By teaching at NYU Law and talking to wider audiences, I found that non-economists come with much less prejudice about how to approach these questions. Economists have got into a little bit of a rut in thinking in terms of precise mathematical models. The End of Alchemy is aimed at the general reader with an interest in why we had a financial crisis, why this was by no means the first crisis, and how we can prevent such crises in future. Whom are you trying to reach with your book and what impact do you hope it will have? ![]()
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