Book | The Global Economic Crisis: A Chronology

Get your free audiobook: http://eita.space/e/B00EHHOIBE the recent banking crisis overturned many preconceived perceptions and has shaken public confidence in the whole financial system. This book is an informative, clear account of the crisis, which explains the events and their consequences from a non-partisan point of view. Economic historian Larry Allen illuminates the interlocked economic 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.allen argues that many elements have contributed to the ongoing crisis: the introduction of the euro to the European Union for example; the growth of new financial instruments and derivatives; collateralized debt obligations and credit default swaps; interest rate policies of the central banks; and the housing boom in the usa, which ended with the sub-prime mortgage fiasco that sparked the global financial crisis itself.allen also takes a comparative look at the economies of Brazil, China, and India, and explores the economic crisis in Japan in the late 1990s, asking whether Japans experience indicates the likely outcome of our current economic difficulties, and what Japans experience can teach us about managing long-term economic sluggishness.a clear-eyed, accessible account of our recent economic predicament, this book will prove instructive to economics students and academics, and interest the general reader looking for an impartial explanation of the current state of the global economy.