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Crisis Economics: A Crash Course in the Future of Finance Audiobook
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(3.03) - 758 listener ratings
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This myth shattering book reveals the methods Nouriel Roubini used to foretell the current crisis before other economists saw it coming and shows how those methods can help us make sense of the present and prepare for the future. Renowned economist Nouriel Roubini electrified his profession and the larger financial community by predicting the current crisis well in advance of anyone else. Unlike most in his profession who treat economic disasters as freakish once-in-a-lifetime events without clear cause, Roubini, after decades of careful research around the world, realized that they were both probable and predictable. Armed with an unconventional blend of historical analysis and global economics, Roubini has forced politicians, policy makers, investors, and market watchers to face a long-neglected truth: financial systems are inherently fragile and prone to collapse. Drawing on the parallels from many countries and centuries, Nouriel Roubini and Stephen Mihm, a professor of economic history and a New York Times Magazine writer, show that financial cataclysms are as old and as ubiquitous as capitalism itself. The last two decades alone have witnessed comparable crises in countries as diverse as Mexico, Thailand, Brazil, Pakistan, and Argentina. All of these crises-not to mention the more sweeping cataclysms such as the Great Depression-have much in common with the current downturn. Bringing lessons of earlier episodes to bear on our present predicament, Roubini and Mihm show how we can recognize and grapple with the inherent instability of the global financial system, understand its pressure points, learn from previous episodes of "irrational exuberance," pinpoint the course of global contagion, and plan for our immediate future. Perhaps most important, the authors-considering theories, statistics, and mathematical models with the skepticism that recent history warrants—explain how the world's economy can get out of the mess we're in, and stay out. In Roubini's shadow, economists and investors are increasingly realizing that they can no longer afford to consider crises the black swans of financial history. A vital and timeless book, Crisis Economics proves calamities to be not only predictable but also preventable and, with the right medicine, curable.
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"This is much more detailed and contains many more suggestions for reform than 'Trillion Dollar Meltdown', 'Depression Economics', or the Soros book, but it was published at a later date that gives it the benefit of additional hindsight. It's also possible through reading many of these books the financial concepts and jargon is starting to stick, and I can now better appreciate the details."
— Lucas (4 out of 5 stars)
Crisis Economics Listener Reviews
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" [start date: 17 Jan 2011] Nice book. Roubini describes the crisis using references to old time economists and many other previous crisis. Excellent to see how the same problem just happens again and again. "
— Sandro, 2/11/2014 -
" Dr Doom's prediction of the financial crisis "
— Harji, 2/3/2014 -
" Had some of the better explanations about the brands of economic viewpoints and the methods of financial technology. This would be a good book for beginners dealing with modern economic history. Has a better than average explanation of the financial crisis of 2007-09 and the causes. Some conclusions are not firmly tied down to particular events. Otherwise good read. "
— Bimus, 2/1/2014 -
" While I have some serious skepticism of the solutions proposed by the authors and their recipe for identifying problems (hindsight is always 20-20) I warmly recommend this book as simply a greatly researched and VERY well told story of the recent economics crisis with bonus goodies from all across history. But especially with relation to the recent one it's super mega fantastic: it goes into very smart details and touches on many interesting points. At one point I remember I was sooooo hoooked on it I was thinking this is the best soap opera ever! Great storytelling with smart insights! "
— Void, 1/18/2014 -
" Understood about half. Goldman Sachs is evil. Deleverage now. China. Follow me on twitter. "
— Doug, 1/17/2014 -
" This book changed my mind a bit about the bailout, as the author indicates that it was helpful in the short term. But he states, as I'm sure many people would, that the bail out is bad in the long term because insolvent banks and businesses were also bailed out and will fail again. "
— Anthony, 1/12/2014 -
" I was looking for something in the vain of Freakanomics but this wasn't even close. Thought it started out strong with describing how other boom/bust cycles have happened through history but it turned into a textbook about 25% of the way through. I couldn't even make it to the end. "
— Michael, 1/11/2014 -
" If you wondered what happened during the last financial crisis and you still wonder if we are headed for more trouble, you might enjoy this book. It tells you where capitalism has buried the bodies. "
— Anthony, 1/8/2014 -
" I expected a lot more from a book purportedly from Roubini. "
— Seligne, 12/11/2013 -
" Intelligent, insightful, informative. Roubini expertly argues against conventional wisdom and shows how much of the current debate is foolish and naive. "
— Mike, 12/1/2013 -
" I'm not really qualified to provide any criticism of the economics of the book, but I found the historical aspects interesting and the policy prescriptions logical. "
— Em, 11/17/2013 -
" One of the best books I have ever read about economics which integrates both a theoretical & practical knowledge combining both history, present & future. The only down side I see in the book is that requires a better organisation to the ideas in order to remove the repetition . "
— Abdullah, 11/11/2013 -
" Liz hated it; I found it fascinating. "
— Greg, 10/22/2013 -
" He was right in predicting the crash, but he's wrong about the cause for it and how to fix it .... "
— Rendier, 9/17/2013 -
" Explains quite a few concepts. Seems to be a decent book "
— Asif, 5/4/2013 -
" An excellent overview of how financial crises happen, and what kinds of economies do and don't weather the storms gracefully. "
— Megan, 3/13/2013 -
" Good overview of the economic crisis circa 2008 and onward. Sound solutions, that vested interests will fight to prevent. Must read for those who wish to understand the problem, the possible solutions. "
— Ralph, 10/7/2012 -
" Incredibly detailed book by a master economist. Described the 2008 recession clearly and made clear the problems that allowed the collapse to occur. Also, explained why it will happen again and again. Sobering and thought-provoking. "
— Mary, 9/24/2012 -
" Roubini is a fascinating read. Once I got past the ego, there were several unique perspectives to think about. I'm not as confident in his proposed solutions as he is, but some of them make sense. "
— Kate, 8/30/2012 -
" Lucid ideas from an NYU professor of economics. "
— John, 5/7/2012 -
" Very interesting. A bit too much detail for my head. I couldn't finish the book. But what I did read (over half) is fascinating...just it's hard to keep myself awake with that much depth of detail. "
— Bill, 1/22/2012 -
" The economic history was interesting but at times I skimmed it. His analysis of the most recent economic crisis was why I bought the book and I wasn't disappointed. "
— Vance, 7/7/2011 -
" Incredibly detailed book by a master economist. Described the 2008 recession clearly and made clear the problems that allowed the collapse to occur. Also, explained why it will happen again and again. Sobering and thought-provoking. "
— Mary, 5/1/2011 -
" [start date: 17 Jan 2011] Nice book. Roubini describes the crisis using references to old time economists and many other previous crisis. Excellent to see how the same problem just happens again and again. "
— Sandro, 1/30/2011 -
" An excellent overview of how financial crises happen, and what kinds of economies do and don't weather the storms gracefully. "
— Megan, 11/28/2010 -
" Not a ton of new info in here that can't be found elsewhere but his take is more globalist than sovereignty-minded. "
— Bob, 10/26/2010 -
" Some history and well written. But the government-as-the-answer attitude unsettles me. I'd probably like this book more if I hadn't read so many other books on economics recently. "
— Mary, 10/25/2010 -
" Roubini is a fascinating read. Once I got past the ego, there were several unique perspectives to think about. I'm not as confident in his proposed solutions as he is, but some of them make sense. "
— Kate, 9/26/2010 -
" Very interesting. A bit too much detail for my head. I couldn't finish the book. But what I did read (over half) is fascinating...just it's hard to keep myself awake with that much depth of detail. "
— Bill, 9/9/2010 -
" I was looking for something in the vain of Freakanomics but this wasn't even close. Thought it started out strong with describing how other boom/bust cycles have happened through history but it turned into a textbook about 25% of the way through. I couldn't even make it to the end. "
— Michael, 8/3/2010 -
" A very good read on the economy and the cycle of crisis. Perhaps this last one wasn't the "black swan" some economists claimed but predictable and one of many. And is there another one building right now? "
— Ed, 7/7/2010 -
" Nouriel's methodology really impresses me. He knows how to evaluate what will happen next in this crazy economy, and this book encompasses his breadth of knowledge on the topic. "
— Fafanizzi, 6/24/2010 -
" Comprehensive but a little repetitive. <br/> <br/>Nice part about Too Big to Fail (TBTF) companies. "
— Maciej, 6/24/2010
About the Authors
L. J. Ganser is the winner of the prestigious Audie Award for Best Nonfiction Narration for his work in The Island at the Center of the World. He has recorded over 450 titles, ranging from preschool books to crime noir thrillers, from astronomical adventures in both science and science fiction, to Arctic Circle high-school basketball stories.
About L. J. Ganser
L. J. Ganser is a multiple Audie Award–winning narrator with over six hundred titles recorded to date. Prized for versatility, his work ranges from preschool books to crime noir thrillers, from astronomical adventures in both science and science fiction, to Arctic Circle high school basketball stories. He lives in New York City with his family and dog, Mars.