{"product_id":"9781594205446","title":"The Shifts and the Shocks: What We've Learned--and Have Still to Learn--from the Financial Crisis","description":"\u003cbr\u003e\u003ci\u003eFrom the chief economic commentator for the\u003c\/i\u003e Financial Times\u003ci\u003e, a brilliant tour d’horizon of the new global economy and its trajectory\u003c\/i\u003e\u003cp\u003eThere have been many books that have sought to explain the causes and courses of the financial and economic crisis which began in 2007–8. \u003ci\u003eThe Shifts and the Shocks\u003c\/i\u003e 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.\u003c\/p\u003e\u003cp\u003eThe 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.\u003c\/p\u003e\u003cp\u003eThe 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.\u003c\/p\u003e\u003cp\u003eWritten with all the intellectual command and trenchant judgment that have made Martin Wolf one of the world’s most influential economic commentators, \u003ci\u003eThe Shifts and the Shocks\u003c\/i\u003e 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.\u003cbr\u003e\u003c\/p\u003e","brand":"Penguin Publishing Group","offers":[{"title":"Default Title","offer_id":47045585600752,"sku":"9781594205446","price":35.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0737\/7593\/9824\/files\/9781594205446_p0.jpg?v=1763811754","url":"https:\/\/shop-qa.barnesandnoble.com\/products\/9781594205446","provider":"Barnes \u0026 Noble (DEV)","version":"1.0","type":"link"}