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The recent banking crisis overturned many preconceived perceptions and has shaken public confidence in the world's financial system. This book is an informative, clear account of the recent ecomic crisis which explains global events and their consequences from a n-partisan point of view. Ecomic historian Larry Allen illuminates the interlocked ecomic processes that lay hidden beneath the crisis, describing and analysing the changing nature of the global financial system, central bank policies, housing bubbles, inflation rates, unemployment, commodity prices, government budgetary policies, deregulation and sovereign debt crises.
Larry Allen is a professor of economics at Lamar University, Texas and the author of The Global Economic System Since 1945 (Reaktion, 2005), and The Global Financial System: 1750-2000 (Reaktion, 2001).