Gary B Gorton
Gary B. Gorton is a notable economist and professor known for his work in the field of finance, particularly in the areas of banking, financial crises, and the history of financial systems.
Books
This list of books are ONLY the books that have been ranked on the lists that are aggregated on this site. This is not a comprehensive list of all books by this author.
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1. Fighting Financial Crises
The Political Economy of International Rescue
This insightful work delves into the intricate dynamics of financial crises, exploring the historical patterns and underlying mechanisms that lead to economic turmoil. It examines the role of financial institutions, market behaviors, and regulatory frameworks in both precipitating and mitigating crises. By analyzing past events and drawing lessons from them, the book offers a comprehensive understanding of how financial systems can be stabilized and the importance of proactive measures to prevent future economic disruptions. The narrative is enriched with real-world examples and theoretical insights, making it a valuable resource for anyone interested in the complexities of financial stability.
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2. Slapped By The Invisible Hand
The Panic of 2007
An accessible account of the 2007–2008 financial crisis that argues the collapse was a classic banking panic transplanted into the modern “shadow banking” system: short-term secured funding markets like repos functioned as money, and when investors lost confidence in the value and information quality of securitized collateral a run ensued. The book traces how securitization, opaque credit enhancements, and information asymmetries turned complex financial instruments into fragile promises, compares this episode to earlier banking panics, and emphasizes how systemic risk arose from private-market money substitutes — drawing lessons for regulation, transparency, and the role of lender-of-last-resort backstops to prevent similar collapses.
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