CRASHED by Adam Tooze, an award winning Professor of History at
Columba University, contains
over 700 pages which explain “How a Decade of
Financial Crises Changed the World.” Tooze
does indeed focus on the intertwined financial world: first, he reviews the immediate response
to the 2008 crisis and then moves to a discussion of the impact on Europe,
especially countries like Greece, Ireland, Portugal, and Spain. Next, he looks
at a shift to a more austere fiscal policy around the globe which when combined
with earlier events contributed to the rise of populist politics, as evidenced
by the Brexit vote and Trump election. Much more than a quick summary of a complex,
challenging and continuing situation, Tooze’s detailed analysis raises numerous
questions. For example, are we abandoning the view that global trade makes
everyone better off in the longer term? Will governments be more willing to act
in a bipartisan manner to combat market distortions? Or are we heading once
again towards more deregulation? What has been the impact on Russia and China? What
kind of global cooperation can we expect if a new crisis occurs?
CRASHED,
a fascinating and comprehensive history for students of economics and politics,
includes extensive notes and received starred reviews from both
Kirkus and
Library Journal.