Penguin Random House, August 2018
From a prizewinning economic historian (CGT Member Professor Adam Tooze), an eye-opening reinterpretation of the 2008 economic crisis (and its ten-year aftermath) as a global event that directly led to the shockwaves being felt around the world today.
In September 2008 President George Bush could still describe the financial crisis as an incident local to Wall Street. In fact it was a dramatic caesura of global significance that spiraled around the world, from the financial markets of the UK and Europe to the factories and dockyards of Asia, the Middle East, and Latin America, forcing a rearrangement of global governance. In the United States and Europe, it caused a fundamental reconsideration of capitalist democracy, eventually leading to the war in the Ukraine, the chaos of Greece, Brexit, and Trump.
It was the greatest crisis to have struck Western societies since the end of the Cold War, but was it inevitable? And is it over? Crashed is a dramatic new narrative resting on original themes: the haphazard nature of economic development and the erratic path of debt around the world; the unseen way individual countries and regions are linked together in deeply unequal relationships through financial interdependence, investment, politics, and force; the ways the financial crisis interacted with the spectacular rise of social media, the crisis of middle-class America, the rise of China, and global struggles over fossil fuels.
Finally, Tooze asks, given this history, what now are the prospects for a liberal, stable, and coherent world order?
In the Media
- Book Review: “Crashed: How a Decade of Financial Crises Changed the World Review”, The Guardian, August 12, 2018
- Book Review: “How Tim Geithner Won a War on Financial Terror — and Lost the Peace”, New York Magazine, August 9, 2018
- Book Review: ” ‘Crashed’ Connects the Dots From 2008 Crisis to Trump, Brexit and More”, New York Times, August 8, 2018
- Author Interview [Podcast]: “After the Recession: We’re Not the Same”, Jefferson Public Radio, August 7, 2018
- Author Interview: “The Great Recession’s Financial Scars”, U.S. News & World Report, August 3, 2018
- Book Review: “Back from the Brink?”, Strategy+Business, July 25, 2018
- Book Review: “Review: Crashed: How a Decade of Financial Crises Changed the World by Adam Tooze — from the crash to Brexit and Donald Trump”, Financial Times, July 22, 2018
- Book Review: “Why America has stood tall while all around her burn”, Evening Standard, July 20, 2018
- Book Essay: “What Really Went Wrong in the 2008 Financial Crisis?”, Financial Times, July 17, 2018