Crisis Economics: A Crash Course in the Future of Finance and over 2 million other books are available for Amazon Kindle . Learn more

Have one to sell? Sell yours here
Sorry, this item is not available in
Image not available for
Image not available

Start reading Crisis Economics: A Crash Course in the Future of Finance on your Kindle in under a minute.

Don't have a Kindle? Get your Kindle here, or download a FREE Kindle Reading App.

Crisis Economics: A Crash Course in the Future of Finance [Hardcover]

Nouriel Roubini , Stephen Mihm
4.4 out of 5 stars  See all reviews (26 customer reviews)

Available from these sellers.


Amazon Price New from Used from
Kindle Edition 5.03  
Hardcover 19.99  
Hardcover, 11 May 2010 --  
Paperback 7.69  
Audio, CD, Audiobook, CD -- Trade-In Store
Did you know you can use your mobile to trade in your unwanted books for an Gift Card to spend on the things you want? Visit the Books Trade-In Store for more details or check out the Trade-In Amazon Mobile App Guidelines on how to trade in using a smartphone. Learn more.

Book Description

11 May 2010

In this myth-busting book Nouriel Roubini shows that everything we think about economics is wrong. Financial crises are not unpredictable 'black swans', but an inherent part of capitalism. Only by remaking our financial systems to acknowledge this, can we get out of the mess we're in.

Will there be another recession, and if so what shape? When will the next bubble occur? What can we do about it? Here Roubini gives the answers, and lists his commandments for the future.

--This text refers to the Paperback edition.

Product details

  • Hardcover: 368 pages
  • Publisher: Penguin Press (11 May 2010)
  • Language: English
  • ISBN-10: 1594202508
  • ISBN-13: 978-1594202506
  • Product Dimensions: 3.8 x 15.8 x 23.3 cm
  • Average Customer Review: 4.4 out of 5 stars  See all reviews (26 customer reviews)
  • Amazon Bestsellers Rank: 1,575,631 in Books (See Top 100 in Books)

More About the Author

Discover books, learn about writers, and more.

Product Description


Succinct, lucid and compelling ... essential reading (Michiko Kakutani The New York Times)

His was one of the few voices in the economics profession to have correctly predicted the crisis ... broad, well-argued and easy to digest (Independent)

This is a wake-up call (Observer)

Nouriel Roubini was right (Paul Krugman Time)

The seer who saw it coming (The New York Times)

The man known as "Dr Doom" has been hailed as a prophet (Financial Times)

The only professional economist who really predicted the crisis, and perhaps the only independent thinker in that business (Nassim Nicholas Taleb) --This text refers to the Paperback edition.

About the Author

Nouriel Roubini has served as a senior adviser to the White House Council of Economic Advisers and the US Treasury Department and consultant to the World Bank and IMF. As early as 2005, Roubini speculated that house prices would soon sink the economy and in 2006, warned the IMF that the United States was likely to face a catastrophic housing bust resulting in deep recession. Back then he was nicknamed 'Dr Doom' by the New York Times. In hindsight, economists have called him a prophet.

Roubini is professor of economics at the Stern School of Business, New York University and co-founder and chairman of RGE Monitor, a web-based economic consultancy firm. He speaks English, Farsi, Italian and Hebrew.

--This text refers to the Paperback edition.

What Other Items Do Customers Buy After Viewing This Item?

Customer Reviews

Most Helpful Customer Reviews
26 of 26 people found the following review helpful
4.0 out of 5 stars Interesting and medium level 15 Sep 2010
By Rox
The book of Roubini and Mihm is really interesting and well written. It is not difficult but not trivial: it seeks to explain fairly well economic concepts and theories, so that the reader can learn something about economic theory.
It focuses mainly on the financial roots of the 2007-08 crisis and on the so-called global imbalances. Less attention is paid to deeper problems realted to income distribution and it doesn't say anything about why finance has achieved prominence in the last 20-30 years vis-a-vis other business sector. In this sense it doesn't go back that much.
Nevertheless, it refuses the most optimistic and semplicist visions of the working of our economic system and provides, within the so-called imperfectionist mainstream, a very good, detailed and realistic analysis.
Was this review helpful to you?
18 of 18 people found the following review helpful
5.0 out of 5 stars Back to Business 7 May 2011
By Diziet TOP 1000 REVIEWER
Format:Hardcover|Verified Purchase
Roubini and Mihm's book is one of the best I have read on the current economic crisis. Particularly lucid, comprehensive and insightful, it not only explains the causes and effects of the crisis, but also places it in an illuminating historical context. The authors show that repeating crises are the normal state of affairs in capitalism and not the exceptional or 'black swan' events that many pundits have suggested. Subsequently, they go on to suggest ways in which the effects of these inevitable crises may be minimised before finally turning to consider the immediate future and the likelihood of their proposed mitigating measures actually being adopted.

The book starts with an explanation of the current crisis and the events leading up to it. The chapter is entitled 'The White Swan' - a deliberate reference to Nassim Nicholas Taleb's 'Black Swan' hypothesis. Far from being a one-off ('black swan') event, the current crisis mirrors those in years gone by. Although, since the end of the Second World War, we may have been living through 'The Great Moderation', now we are actually seeing the return of business as usual - the normal capitalist routine of boom/slump and 'Crisis Economics'.

The next section looks at the 'Crisis Economists'. From John Stuart Mill, William Stanley Jevons and Karl Marx, the authors arrive at Keynes - '[t]he most important economist to emerge out of the Great Depression'(P47). In relation to Keynes, they then go on to briefly discuss Friedman and the Chicago School, Minsky, Schumpeter, Hayek and the Austrian School. The authors believe that the best approach may be a synthesis of Keynes and Schumpeter.
Read more ›
Was this review helpful to you?
65 of 67 people found the following review helpful
5.0 out of 5 stars The best single account of the crisis 21 Dec 2010
By Paul Bowes TOP 500 REVIEWER
Nouriel Roubini predicted the financial crisis of 2007-9, and in some detail. This made him extremely unusual among macroeconomists. 'Crisis Economics', written in collaboration with the financial journalist Stephen Mihm, gives Roubini's historical and theoretical perspective on those events, an analysis of where we are now and concrete suggestions for the future from a non-ideological, pragmatic perspective.

Roubini's central insight, informed by his reading of economic history, is that there is nothing unusual about crisis in the economy. On the contrary: he argues against Nassim Taleb's 'black swan' model of unpredictable extreme events that the recent crisis was eminently predictable precisely because it resembled in its course so many other crises in the past. Roubini's is a 'white swan' theory - crisis is normal and inseparable from capitalism - though he agrees with Taleb that within that paradigm crisis can and should be managed and mitigated.

Roubini begins by offering an historical overview of crises caused by an asset bubble that boiled over into the rest of the economy. He argues that the current generation of macroeconomists were fooled, with few exceptions, by an unusually extended period of relative stability (and their own predilections) into believing that stability was the normal state of the economy.

The author then moves from his detailed - and fascinating - account of historical crises to consider how economists have modelled crisis in the past and more recently. Again, this historical perspective reveals significant irrational and extra-economic influences on the question of which model became dominant in academic economics, and why its dominance left economists so unprepared for the crisis of 2007-9.
Read more ›
Was this review helpful to you?
20 of 21 people found the following review helpful
4.0 out of 5 stars This book could become a classic 19 July 2010
Format:Hardcover|Verified Purchase
Crisis Economics - This book could become a classic

This is an excellent book detailing the current economic crisis (2010). The combination of the authors' journalistic and economic experience has produced a book which is both accessible and authoritative. It tells a story that will make the reader in turn extremely interested, very angry and deeply depressed.

The historical background on crises past is very useful. This is a topic ignored during any boom and re-discovered during any bust. The small print of financial sales literature often states that "Past performance is not a guide to future performance" but over the long term financial history does seem to repeat itself.

This book has three broad sections: financial history, a description of the lead up to the recent bust and suggestions for a proper response to the crisis. The mistakes of President Hoover at the start of the Great Depression have not been repeated but the current crisis is far from over. In particular, the apparent containment of the current crisis may give a false sense of security, and the re-regulation may be inadequate. A new edition of this book will soon be required, with a section detailing how the current situation was handled.
Comment | 
Was this review helpful to you?
Would you like to see more reviews about this item?
Were these reviews helpful?   Let us know
Most Recent Customer Reviews
2.0 out of 5 stars Expected more insight out of the book
There are many well written accounts of the crisis. This one is very mediocre in terms of retelling the past. Read more
Published 5 months ago by Lev Fin
4.0 out of 5 stars Overall quite good
Overall a very good book which outlines well the causes of the crisis and offers many compelling arguments for where the financial system should go from here including regulation,... Read more
Published 10 months ago by RegularReader
4.0 out of 5 stars Excellent summary of the financial crisis and new economic world order
An excellent summary of the 2008 financial crisis, the government policy responses, and how this will affect economics and finance in the future. Read more
Published 10 months ago by Alex
5.0 out of 5 stars an electric light moment!
A good book for dorks and mensa members alike. I do not believe that this book will date as the information included is difinitive
Published 11 months ago by marilyn matthieson
5.0 out of 5 stars Excellent
I really enjoyed reading this book. I highly recommend it for anyone who wants to have a good understanding of the financial crisis.
Published 13 months ago by Tarek
4.0 out of 5 stars Useful account of the second great depression
Nouriel Roubini is Professor of Economics at New York University's Stern School of Business, and Stephen Mihm is Associate Professor of History at Georgia University. Read more
Published 16 months ago by William Podmore
1.0 out of 5 stars Great book - however.....
I think an excellent book - breaks down the history of these events very well and presents interesting and well thought out analysis. Would recommend to anyone. Read more
Published 17 months ago by Lee Smith
5.0 out of 5 stars Delightfully easy to read book despite its technical subject
If this book's title has piqued your interest I encourage you to read it.

Other reviews amply describe the content of this book and in my opinion offer a balanced... Read more
Published 20 months ago by The Doctor
4.0 out of 5 stars Gaining Perspective
Another book on the financial crisis? Seriously? Yes, seriously and calm down. Roubini is one of those guys you can't ignore even if you wanted to. He's always in the news! Read more
Published 21 months ago by demola
5.0 out of 5 stars I wish that other economics book were like this
.. this is a very readable account of the economic crisis that surfaced on 2007/08 and continues to this day
What is excellent is that the style is very clear and rather than... Read more
Published on 29 Nov 2011 by A. J. Sudworth
Search Customer Reviews
Only search this product's reviews

Customer Discussions

This product's forum
Discussion Replies Latest Post
No discussions yet

Ask questions, Share opinions, Gain insight
Start a new discussion
First post:
Prompts for sign-in

Search Customer Discussions
Search all Amazon discussions

Look for similar items by category