https://book.specialdeals.club/?book=1594205442
From the chief economic commentator for the Financial Times, a?brilliant tour d?horizon of the new global economy and its trajectory We have been inundated with books about the??financial crisis.? Surely, there is little more to be?said. Martin Wolf agrees. In fact, he argues, too?much has been said about the purely financial?aspects of the crisis, important though they?are. The underlying problem is that the world?economy is unable to cope with the major shifts?it is undergoing: rapid economic integration,?competition from billions of new workers,?technological revolutions, and the floods of capital?across the world. These shifts have transformed?relationships among economies and within them,?creating new competitors, huge imbalances, and?huge increases in inequality. With those shifts have come vast and largely?unforeseen financial shocks. The breakdown of?the financial system in the high-income countries?of the West was a symptom of unsuccessful,?incomplete, and misguided adjustments to the?imbalances created by this new world. The shocks?are partly the result of the financial system?s?frailties, which must be remedied durably and?radically. But they are also the consequence of?deeper economic forces. To focus only on the?financial breakdown is to mistake symptoms with?causes. As important as improving the financial system is making the global economic system more stable.The Shifts and the Shocks?is the?tour d?horizon?of the new world economy that only Martin Wolf could write. It cements his status as among our most farseeing and imaginative economic commentators. Wolf makes us see how partial and confused our view of the economic events of the last five years has been. No other book offers such a thoroughly global perspective, nor one that understands the connection between the macroeconomics and the financial system with Wolf?s level of sophistication and insight. It is not a book for those looking for a cheerful prognosis on the future of the European Union, or any number of other vital issues hanging fire, and it offers solutions that will seem extremely radical to some, but neither is it without hope. The new global economic order is lifting tens of millions of people out of poverty and creating new winners and losers at an unimagined scale and pace. It?s simply high time, indeed past time, for our economics to keep pace with our economy.?Now, with?The Shifts and the Shocks, it has.
