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09/09/2013

Book Review: After the Music Stopped


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Throughout this long and multifaceted work on the recent financial crisis and its aftermath, Professor Blinder demonstrates that he is the rare academic economist who writes clearly about a complicated topic, clarifying complex issues for readers who remain confused about what happened. Some readers may find his proposed remedies problematic.

If writing the second draft of history is supposed to involve both fact telling and interpretation, Alan Blinder’s After the Music Stopped: The Financial Crisis, the Response, and the Work Ahead certainly qualifies. But if books written several years after the worst financial crisis since the Great Depression are supposed to reflect a deeper understanding than those written in the throes of the emergency, this one falls short. Moreover, as the subtitle indicates, the author attempts to combine work of adescriptive nature and work of a prescriptive nature into a single, large, and far-reaching undertaking.

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