An essential and clear-eyed dissection of the 2008 financial crisis, where economist Vincent R. Reinhart and coauthors trace the mismatched market incentives, government interventions, and policy missteps that fueled the meltdown—delivering a timely, indispensable guide for policymakers and financial leaders who hope to avoid repeating history's costliest mistakes.

In response to the ongoing financial crisis, the U.S. government has significantly expanded its role in economy, resulting in new legislation and both public and private policy overhauls. But these hasty efforts to buoy the economy may ultimately do more harm than good. In No Way Out?, Vincent R. Reinhart and his coauthors provide a concise narrative of the financial crisis, the mismatched market incentives and government policies that precipitated it, and the likelihood of its recurrence. This volume is an indispensable resource for policymakers and financial leaders and a timely reminder that until we understand the history of government intervention in the marketplace, we are doomed to repeat failed policies.