The Evolution of Bond Vigilantism and Central Bank Power

Historian Adam Tooze, the author of Crashed: How a Decade of Financial Crises Changed the World, explains how crisis in an unprecedentedly powerful and interconnected global banking system coursed through American homes and European sovereign debt markets, exploding into the Tea Party and the European politics of austerity — and, ultimately, leading to today's legitimation crisis of the reigning political establishment and economic order.

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