21 of 22 people found the following review helpful
This book could become a classic,
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This review is from: Crisis Economics: A Crash Course in the Future of Finance (Hardcover)
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.