Book Reviews

摘要

Michael E. Lewitt's Death of Capital: How Creative Policy Can Restore Stability is a remarkably entertaining and thought-provoking book. At its core, it is another entry in the popular genre of postmortems on the Great Crash of 2008. But unlike its peers, The Death of Capital analyzes both the theoretical underpinnings of the crash and the business practices that caused it. Lewitt's thesis is that the crash was triggered by the death of capital (in late 2008), which temporarily shut down the entire global economy and inflicted billions of dollars of permanent losses.