An Overview of Trade Books that Warned of the 2008 Real Estate and Financial Meltdown

Abstract

In contrast to high-level U.S. government officials and advisors who failed to anticipate the real estate and financial crisis of 2008, at least 17 trade books from 2002 to 2008 warned of an impending crash. The book authors were a minority in the finance and business community, which for the most part was also unprepared for the events. Academic economists failed to provide checks on flawed policies. This suggests greater emphasis on broader understanding of and practical application of economics to national affairs in academic research and curricula.

Keywords: Financial Crisis, Real Estate Market, Academia, Policy