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The Shifts and the Shocks: What We've Learned—and Have Still to Learn—from the Financial Crisis

Penned By Martin Wolf
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4.85
22,680 Global Ratings
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The Shifts and the Shocks: What We've Learned—and Have Still to Learn—from the Financial Crisis

Penned By Martin Wolf
4.85 22,680 Ratings
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Editor's Note:
From the chief economic commentator for the Financial Times , a brilliant tour d’horizon of the new global economy and its trajectoryThere have been many books that have sought to explain the causes and courses of the financial and economic crisis which began in 2007–8. The Shifts and the Shocks is not another detailed history of the crisis, but the most persuasive and complete account yet published of what the crisis should teach us about modern economies and economics.The book identifies the origin of the crisis in the complex interaction between globalization, hugely destabilizing global imbalances and our dangerously fragile financial system. In the eurozone, these sources of instability were multiplied by the tragically defective architecture of the monetary union. It also shows how much of the orthodoxy that shaped monetary and financial policy before the crisis occurred was complacent and wrong. In doing so, it mercilessly reveals the failures of the financial, political and intellectual elites who ran the system.The book also examines what has been done to reform the financial and monetary systems since the worst of the crisis passed. “Are we now on a sustainable course?” Wolf asks. “The answer is no.” He explains with great clarity why “further crises seem certain” and why the management of the eurozone in particular “guarantees a huge political crisis at some point in the future.” Wolf provides far more ambitious and comprehensive plans for reform than any currently being implemented.Written with all the intellectual command and trenchant judgment that have made Martin Wolf one of the world’s most influential economic commentators, The Shifts and the Shocks matches impressive analysis with no-holds-barred criticism and persuasive prescription for a more stable future. It is a book no one with an interest in global affairs will want to neglect.

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Length 496 Pages
Language Eng
Released August 25, 2014
Identifier (ISBN) 20821320
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Martin Wolf
The Mind Behind the Work
Martin Wolf

Martin Wolf is the author of several novels. Originally from the East Coast, they now live in the Midwest with family. In addition to writing, Martin Wolf enjoys gardening, cooking, and reading way past bedtime. Their work often explores the complexities of everyday life and human relationships.

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4.85
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John Miller
John Miller November 29, 2024
"Such a rich narrative. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I am now a lifelong fan of this author."
Kevin Nelson
Kevin Nelson February 04, 2025
"Honestly one of the most premium reading experiences lately. The author orchestrated a breathtaking finale. Truly a work of art. An absolute must-read for connoisseurs of the genre."
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Melissa Campbell
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"Honestly one of the most premium reading experiences lately. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I will undoubtedly revisit this masterpiece."
Dorothy Campbell
Dorothy Campbell March 05, 2024
"Exceeded all my expectations. I became deeply invested in the protagonist's journey. A masterclass in storytelling. A true literary gem."
Sandra Evans
Sandra Evans March 08, 2024
"A very strong entry. The middle had a deliberate pace, but the climax was phenomenal. A very distinguished novel."
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"Masterpiece from start to finish. The author orchestrated a breathtaking finale. Truly a work of art. I am now a lifelong fan of this author."
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Daniel Hernandez December 24, 2025
"A very strong entry. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. A wonderful companion for a quiet weekend."
Anthony Wilson
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"Excellent, though slightly flawed. The middle had a deliberate pace, but the climax was phenomenal. I would highly recommend this to discerning readers."
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"Absolutely brilliant. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I am now a lifelong fan of this author."
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Betty Ramirez April 06, 2025
"Honestly one of the most premium reading experiences lately. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. Worth every moment spent reading."
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"I was completely blown away. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. Worth every moment spent reading."
Amanda Young
Amanda Young November 04, 2024
"I was completely blown away. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I am now a lifelong fan of this author."
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Sharon Evans February 05, 2024
"Absolutely brilliant. The author orchestrated a breathtaking finale. Truly a work of art. A true literary gem."
David Campbell
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Paul Brown
Paul Brown December 10, 2024
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"Exceeded all my expectations. The prose is exquisite. It’s accessible yet undeniably sophisticated. A true literary gem."
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"Honestly one of the most premium reading experiences lately. I adored how the story unfolded. It kept me captivated without sacrificing elegance. A true literary gem."
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"I thoroughly enjoyed the elegance of it. The protagonist was compelling, though some subplots felt slightly overshadowed. I would highly recommend this to discerning readers."
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"I was completely blown away. I adored how the story unfolded. It kept me captivated without sacrificing elegance. A true literary gem."
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"A profoundly satisfying read. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. An effortless 5 stars."
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"A highly sophisticated read. The middle had a deliberate pace, but the climax was phenomenal. A wonderful companion for a quiet weekend."
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"Masterpiece from start to finish. The prose is exquisite. It’s accessible yet undeniably sophisticated. I will undoubtedly revisit this masterpiece."
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