Description

Leader00779nam a2200253 i 4500
0011014088
003LB
00520141014133449.0
008141013 2014 uk 00000 eng
020 a: 9781846146978
040 a: LB
041 a: eng
080##a: 338.1
1001#a: Wolf, Martin4: aute: Autors
24514a: The Shifts and the Shocksb: What We've Learned - and Have Still to Learn - From the Financial Crisisc: Martin Wolf
260 a: Londonb: ALLEN LANE an imprint of Penguin Booksc: 2014
300 a: 466 p.
650#0a: Financial crisis
990##a: 338.1

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Location Address Count Shelf Status
Bibliotēka 01.2 1 On a shelf Available to order

Annotation


From the chief economic commentator for the Financial Times, a brilliant tour d’horizon of the new global economy and its trajectory

There have been many books that have sought to explain the causes and courses of the financial and economic crisis which began in 2007–8. The Shifts and the Shocks is not another detailed history of the crisis, but the most persuasive and complete account yet published of what the crisis should teach us about modern economies and economics.

The book identifies the origin of the crisis in the complex interaction between globalization, hugely destabilizing global imbalances and our dangerously fragile financial system. In the eurozone, these sources of instability were multiplied by the tragically defective architecture of the monetary union. It also shows how much of the orthodoxy that shaped monetary and financial policy before the crisis occurred was complacent and wrong. In doing so, it mercilessly reveals the failures of the financial, political and intellectual elites who ran the system.

The book also examines what has been done to reform the financial and monetary systems since the worst of the crisis passed. “Are we now on a sustainable course?” Wolf asks. “The answer is no.” He explains with great clarity why “further crises seem certain” and why the management of the eurozone in particular “guarantees a huge political crisis at some point in the future.” Wolf provides far more ambitious and comprehensive plans for reform than any currently being implemented.

Written with all the intellectual command and trenchant judgment that have made Martin Wolf one of the world’s most influential economic commentators, The Shifts and the Shocks matches impressive analysis with no-holds-barred criticism and persuasive prescription for a more stable future. It is a book no one with an interest in global affairs will want to neglect.

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