Paperback / softback
February 26, 2010
9780801895739
English
272
73 line drawings
9.00 Inches (US)
6.00 Inches (US)
.85 Pounds (US)
.85 Pounds (US)
$25.00 USD
v2.1 Reference
Electronic book text
February 26, 2010
9780801898433
9780801895739
English
272
73 line drawings
9.00 Inches (US)
6.00 Inches (US)
$25.00 USD
v2.1 Reference

Fixing Global Finance, expanded and updated edition

Since 2008, when Fixing Global Finance was first published, the collapse of the housing and credit bubbles of the 2000s has crippled the world's economy. In this updated edition, Financial Times columnist Martin Wolf explains how global imbalances helped cause the financial crises now ravaging the U.S. economy and outlines steps for ending this destructive cycle—of which this is the latest and biggest. An expanded conclusion recommends near- and long-term measures to stabilize and protect financial markets in the future.

Reviewing global financial crises since 1980, Wolf lays bare the links between the microeconomics of finance and the macroeconomics of the balance of payments, demonstrating how the subprime lending crisis in the United States fits into a pattern that includes the economic shocks of 1997, 1998, and early 1999 in Latin America, Russia, and Asia. He explains why the United States became the "borrower and spender of last resort," makes the case that this was an untenable arrangement, and argues that global economic security depends on radical reforms in the international monetary system and the ability of emerging economies to borrow sustainably in domestic currencies.

Sharply and clearly argued, Wolf's prescription for fixing global finance illustrates why he has been described as "the world's preeminent financial journalist."

About the Authors

Martin Wolf is the associate editor and chief economics commentator for Financial Times and a professor of economics at the University of Nottingham. He is the author of several books, most recently Why Globalization Works, and he was named to Foreign Policy and Prospect magazines' "Top 100 Public Intellectuals" list.

Reviews

"Wolf's analysis fills in a lot of blanks for those seeking to understand the new U.S. recession in a global context."—Publishers Weekly, reviewing a previous edition

"This is an ambitious book by one of the most respected financial journalists of our time . . . He does a terrific job, taking us through the plethora of theories that were put out to explain the imbalances, debunking the more popular but flaky ones with gusto."—Financial Times, reviewing a previous edition

"Get the book and expand your understanding of precisely what has brought the United States to its current flirtation with disaster."—The Desk, reviewing a previous edition

"The only inkling of hope is that policy makers everywhere have been so shaken by events that they will heed what Wolf advises. This book is a great and important contribution to everyone's welfare on the globe. It can be paid no higher accolade."—Guardian, reviewing a previous edition

"Fixing Global Finance marks a turning point in his worldview . . . offers important pointers to the way ahead."—New York Review of Books, reviewing a previous edition

The Johns Hopkins University Press
expanded and updated edition

9780801895739 : fixing-global-finance-2nd-edition-wolf-moore
Paperback / softback
272 Pages
$25.00 USD
9780801898433 : fixing-global-finance-2nd-edition-wolf-moore
Electronic book text
272 Pages
$25.00 USD

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