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- DescriptionSince 2008, when Fixing Global Finance was first published, the collapse of the housing and credit bubbles of the 2000s has crippled the world's ecomy. In this updated edition, Financial Times columnist Martin Wolf explains how global imbalances helped cause the financial crises w ravaging the U.S. ecomy 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 microecomics of finance and the macroecomics of the balance of payments, demonstrating how the subprime lending crisis in the United States fits into a pattern that includes the ecomic 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 ecomic security depends on radical reforms in the international monetary system and the ability of emerging ecomies 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.
- Author BiographyMartin 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.
- Author(s)Martin Wolf
- PublisherJohns Hopkins University Press
- Date of Publication26/02/2010
- SubjectEconomics: Professional & General
- Series TitleForum on Constructive Capitalism
- Place of PublicationBaltimore, MD
- Country of PublicationUnited States
- ImprintJohns Hopkins University Press
- Content Note73 black & white line drawings
- Weight385 g
- Width152 mm
- Height229 mm
- Spine18 mm
- Format DetailsTrade paperback (US)
- Edition StatementExpanded and updated ed
- Interest AgeFrom 18
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