The great crash of 2008 was one that no one saw coming, or, if they did, they ignored the warning signs. This title takes us through the boom and the global imbalances that led to the bust. It presents a whole-world view of reasons for the downturn, from good, old-fashioned greed and rampant speculation, to the imbalances in global capital flows.
The great crash of 2008 was one that no one saw coming, or, if they did, they ignored the warning signs. Ross Garnaut, respected economist and author of the ""Garnaut Climate Change Review"", takes us through the recent boom and the global imbalances that led to the bust. He presents a whole-world view of reasons for the downturn, from good, old-fashioned greed and rampant speculation, to the imbalances in global capital flows. Crucially, he sets out how we might seek order in the wreckage in a world forever changed. What are the geo-economic and geo-strategic implications of such a wide-ranging crash, and how do we restore development in this changed world? The book will also include the impact of the downturn on climate change, economic policy and ideology.
