Getting Off Track: How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis by John B. Taylor


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(Hardcover - New)

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( 6 customer ratings )

  • Pub. Date: February 2009
  • 92pp
  • Sales Rank: 991,387
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    Product Details

    • Pub. Date: February 2009
    • Publisher:Hoover Institution Press
    • Format: Hardcover, 92pp
    • Sales Rank: 991,387


    In this concise volume, leading economist John B. Taylor offers empirical research to explain what caused the current financial crisis, what prolonged it, and what dramatically worsened it more than a year after it began. The evidence he presents strongly suggests that specific government actions and interventions are largely to blame and that any future government interventions must be based on a clearly stated diagnosis of the problem and a rationale for the interventions.

    Peter Robinson -

    Cogent, thorough and compelling... Taylor sums up his argument in his subtitle: How Government Actions and Interventions Caused, Prolonged and Worsened the Financial Crisis. Take a moment to absorb that. Although we're told every day that the crisis arose from failures in the free markets--that it represents a crisis of capitalism itself--an eminent economist has now stepped forward to say, in effect, "Nonsense." The markets didn't fail, Taylor argues, the government did.

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    John B. Taylor is the Bowen H. and Janice Arthur McCoy Senior Fellow at the Hoover Institution and the Mary and Robert Raymond Professor of Economics at Stanford University.

    Customer Reviews

    Explains why the 2008 recession has lingeredby Jazzlover

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    August 23, 2013: John Taylor should be the next Chairman of the Federal Reserve, as he is most experienced and accomplished working economist in the world today. Dr. Taylor won't be selected, because he is an actual economist in the mold of Friedman, Hayek, Mises and Sowell. In other words, Taylor operates in the real world, rather than in Barack Obama's ideologically constructed fantasy universe, where political gain trumps sound economic policies every time. In this brief, but effectively reasoned book Dr. Taylor dissects and reveals the failed policies that have prolonged what should have been a temporary, cyclical recession into the recovery that continues to produce no jobs, no real growth and more government regulation and bureaucracy.

    Short and to the pointby pontiac_98072

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    May 26, 2010: The book is short, not very expensive, and not filled with a bunch of obtuse models. Dr. Taylor describes why he thinks short-term rates jumped up in the fall of 2008. Instead of taking a more numerical route, he spends time describing what can be learned from comparing different interest rates. Those are things you don't run into very often in technical journal articles.

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