The Shifts and the Shocks is a detailed examination of the financial crisis that began in 2007. The book is divided into three parts: 'The Shocks,' which describes the financial crisis and post-crisis austerity policies; 'The Shifts,' which explains the underlying changes that led to the crisis; and 'The Solutions,' which discusses potential reforms in economic theory, the financial system, secular stagnation, and the Eurozone. Written by Martin Wolf, the book offers a persuasive and complete account of what the crisis should teach us about modern economies and economics, with a focus on radical reforms needed to avoid future crises.
In this book, Martin Wolf provides a comprehensive defense of the global market economy. He explains the concept and operation of globalization, critiques the arguments against it, and argues that the main obstacle to global economic progress is not the market but rather governmental failures. The book offers a realistic scenario for economic internationalism in the post-9/11 era and includes a new introduction in the paperback edition to update the debate.
In this book, Martin Wolf examines the strained relationship between capitalism and democracy, highlighting how economic and political changes have undermined this marriage. He argues that despite its recent failings, such as slowing growth and increasing inequality, democratic capitalism is still the best system we know for human flourishing. Wolf emphasizes that capitalism and democracy are complementary opposites that need each other to thrive and that their separation would be catastrophic. The book concludes by discussing what needs to be done to address the threats to liberal democracy itself.
2025 is set to be a seismic year for the global economy. Donald Trump will return to the White House with an ‘America First’ agenda that threatens to dismantle global trade. Wars in Ukraine and Gaza could continue to escalate and cause turmoil in diplomacy. And the race to develop AI will accelerate as China and the US battle it out for technological supremacy.
Who better to make sense of these unsettling and fast-changing times than Martin Wolf, Chief Economics Commentator at the Financial Times? Widely regarded as one of the world’s most influential writers on the global economy and a multi-award-winning financial journalist, Wolf has been chronicling and analysing geopolitical and economic upheaval for nearly 40 years. He has written five bestselling books. His latest, The Crisis of Democratic Capitalism, maps out the implications of globalisation, technological development and the impact of democratic decline on the global economy.
Wolf joined us onstage for the this installment of the Intelligence Squared Economic Outlook as he discussed what we can expect from 2025 and beyond in conversation with BBC News presenter and Royal Correspondent Jonny Dymond.
This recording is part of The Intelligence Squared Economic Outlook series of events made in partnership with Guinness Global Investors, an independent British fund manager that helps both individuals and institutions harness the future drivers of growth to achieve their investment goals.
To find out more visit: https://www.guinnessgi.com/
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