Volume 12, No. 1 (2009)
It is with great trepidation and anticipation that we review Robert Shiller’s new book, The Subprime Solution. Trepidation as to the causes of the problem, which were expected to take a behavioral spin. Anticipation that, with gushing reviews from Austrian friendly writers such as Nassim Taleb, there would be a plethora of new insights into the current crisis. However, while the former proved to become reality, the latter was not to be. In fact, Shiller’s two central theses defy all conventional Austrian wisdom concerning the causes and cures of the current financial juncture.
