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Publisher's Summary

In the aftermath of the financial crisis, many commonly held beliefs have emerged to explain its cause. Conventional wisdom blames Wall Street and the mortgage industry for using low down payments, teaser rates, and other predatory tactics to seduce unsuspecting home owners into assuming mortgages they couldn’t afford. It blames average Americans for borrowing recklessly and spending too much. And it blames the tax policies and deregulatory environment of the Reagan and Bush administrations for encouraging reckless risk taking by wealthy individuals and financial institutions. But according to Unintended Consequences, the conventional wisdom masks the real causes of our economic disruption and puts us at risk of a slew of unintended—and potentially dangerous—consequences.
Unintended Consequences is not a book that takes a couple of insights and expands them into 300 pages; rather, it covers the entire scope of the economy. It’s a fascinating and contrarian case for how the economy really works, what went wrong over the past decade, and what steps we can take to start growing again. Whether you agree with the book’s provocative and counterintuitive conclusions or not, Unintended Consequences will reward you with a sophisticated understanding of the contemporary economy—one no other book has yet provided.
Edward Conard was a partner at Bain Capital from 1993 to 2007. He served as the head of Bain’s New York office and led the firm’s acquisitions of large industrial companies. Prior to that he worked for Wasserstein Perella, an investment bank that specialized in mergers and acquisitions. He lives in New York City.
©2012 Edward Conard (P)2012 Blackstone Audio, Inc.
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Critic Reviews

"There are an amazing number of good ideas and interesting points made in this book." (Steven Levitt, coauthor of Freakonomics)
" Unintended Consequences will be the most talked about economics book in 2012." (Kevin Hassett, Senior Fellow and Director of Economic Policy, American Enterprise Institute)
"Ed Conard’s book presents the most cogent and persuasive analysis of the financial crisis to date." (Andrei Shleifer, Bates Clark Medal winner, Harvard University)
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Customer Reviews

Most Helpful
5 out of 5 stars
By DS on 12-18-12


An interesting perspective on the fiscal crisis, taxation, social programs and why the middle class is shrinking. Very thought provoking. Some points I could recognize and agree with but others left me scratching my head. I may have to listen again.

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3 of 3 people found this review helpful

5 out of 5 stars
By Scot on 06-20-12


This book can only be described as outstanding. Mr. Conard has been able to discuss the reasons for the 2008 financial crisis in a clear and concise manner as well as give concrete suggestions for what government policies should entail so that our economy can return to 'normal' post-recession growth rates. While I am a fiscal conservative and believer in the strength of the free market system and therefore bias to Mr. Conard's point of view, I feel that this book should be required reading for all, as even those who believe in more governement intervention in our economy will be forced to reflect on the points that Mr. Conard drives home. While some portions of the books may get a little overly technical for an non-financial person, I feel that anyone with an above average level of intelligence will be able to easily get through those sections and will then be able to understand how Mr. Conard comes to his conclusions. This is one of the most informative and enjoyable books that I have ever read and I congratulate Mr. Conard on his work.

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7 of 8 people found this review helpful

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