Fixing Global Finance by Martin Wolf
(Forum on Constructive Capitalism)

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Synopsis

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.
 

About Martin Wolf

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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.
 
Published June 22, 2010 by JHUP. 272 pages
Genres: Business & Economics, Political & Social Sciences, Literature & Fiction, Professional & Technical. Non-fiction

Unrated Critic Reviews for Fixing Global Finance

The Guardian

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Fixing Global Finance: How to Curb Financial Crises in the 21st Century by Martin Wolf Find this on the Guardian bookshop Search the Guardian bookshop The Financial...

Feb 01 2009 | Read Full Review of Fixing Global Finance (Forum ...

Socialist Review

One irony of Wolf's health cure for the system is his suggestion that emerging market economies need to develop their own financial services - notwithstanding his admission that "even the most sophisticated financial system is capable of excess".

| Read Full Review of Fixing Global Finance (Forum ...

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