Crashed
By Adam Tooze
How a Decade of Financial Crises Changed the World. Viking, 2018.
Summary of Crashed book by Adam Tooze
An in-depth analysis of the 2008 economic crisis and its impact on the world, including the long-term ramifications countries and cultures are still facing today.
Chapters in Crashed book summary
What do you get from this book? A close examination of the 2008 global financial crisis and its aftermath
Debt obligation, low interest rates, and political division cause mortgages to fail and the economy to crash
Foreign countries buy American mortgages, and the “eurozone” finds itself in financial crisis
Loss of assets and falling real estate prices lead to economic ruin and global bailouts
The federal reserve introduces “swap lines,” but eastern Europe gets rejected from the program
A stimulus package, high-end bonuses, and lack of coordination make economic recovery difficult
Greece’s history serves as a warning to countries facing crisis, and political conflicts breed distrust
G20 members divide over their efforts—or lack thereof—and entire towns go bankrupt
Russia clashes with china over the U.S., and tensions run high across Europe
Trump wins Washington, new conflicts arise, and china becomes an economic “superpower”
Summary of the key insights
Selected critiques in brief
Final word
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Crashed — Book Summary Snapshot
Who should read Crashed book
- Politicians
- entrepreneurs
About the author of Crashed
Adam Tooze
British-born educator Adam Tooze has devoted his professional life to the research and study of failed financial systems and the global shock that follows as a result. His investigations include detailed examinations of economic crises through a historical lens, illustrating how closely tied the world economy really is, with suggestions for avoiding future financial catastrophes.
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Costas Lapavitsas
Crisis in the Eurozone. Verso, 2012.
Yanis Varoufakis
My Battle with Europe’s Deep Establishment. Vintage, 2018
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