Seven Crashes: The Economic Crises That Shaped Globalization

✍ Scribed by Harold James

• Publisher: Yale University Press
• Year: 2023
• Tongue: English
• Leaves: 376
• Category: Library

✦ Synopsis

A leading economic historian presents a new history of financial crises, showing how some led to greater globalization while others kept nations apart
 
The eminent economic historian Harold James presents a new perspective on financial crises, dividing them into “good” crises, which ultimately expand markets and globalization, and “bad” crises, which result in a smaller, less prosperous world. Examining seven turning points in financial history—from the depression of the 1840s through the Great Depression of the 1930s to the Covid-19 crisis—James shows how crashes prompted by a lack of supply, like the oil shortages of the 1970s, lead to greater globalization as markets expand and producers innovate to increase supply. By contrast, crises triggered by a lack of demand—such as the Global Financial Crisis of 2007–2008—result in less globalization as markets contract, austerity measures are imposed, and skepticism of government grows.
 
By considering not only the times but also the observers who shaped our understanding of each crisis—from Karl Marx to John Maynard Keynes to Larry Summers—James shows how the uneven course of globalization has led to new economic thinking, and how understanding this history can help us better prepare for the future.

✦ Table of Contents

Cover
Half Title
Title Page
Copyright Page
Contents
Acknowledgments
Introduction: How Prices Shape Globalization
1 The Great Famine and the Great Revolt
2 Krach at the Margins
3 The Great War and the Great Inflation
4 The Great Depression
5 The Great Inflation: The 1970s
6 The Great Recession: 2008
7 The Great Lockdown: 2020–2022
Conclusion: The Next Great Globalization
Notes
Index
A
B
C
D
E
F
G
H
I
J
K
L
M
N
O
P
Q
R
S
T
U
V
W
X
Y
Z