Fault Lines
By Raghuram Rajan
How Hidden Fractures Still Threaten the World Economy. Princeton University Press, 2010.
Summary of Fault Lines book by Raghuram Rajan
A concise and comprehensive text on the hidden dangers dominating the world’s financial system, with an emphasis on American economics and the financial risks consumers are incentivized to take.
Chapters in Fault Lines book summary
What do you get from this book? learn how U.S. policies influence the global economy and drive income inequality
Income inequality in the U.S. is the result of problems in education, deregulation, and unsecured loans
Wealthy nations are built over time using a combination of government management strategies and exports
Developed nations and developing nations are treated differently by foreign investors, leading to financial crises in Mexico and East Asia
Politically motivated economic policies do little to stimulate economic recovery and leave U.S. workers without a safety net
The Federal Reserve made a crucial mistake when it lowered interest rates and encouraged risky lending
“Arm’s-Length” financial systems like the U.S. make it easy to take advantage of unsuspecting borrowers
AAA-rated loans caused a false sense of security that plummeted during the 2008 financial crisis
A debate rages around who should and should not receive access to credit, prompting financial reform laws
Equal income is dependent on equal opportunities to improve human capital, starting with schooling and health
Global leaders like the IMF, WTO, and G-20 must work together to create a world economy suitable for everyone
Summary of the key insights
Selected critiques in brief
Final word
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Fault Lines — Book Summary Snapshot
Who should read Fault Lines book
- business owners
- entrepreneurs
- financial advisors
- economics professors and students
About the author of Fault Lines
Raghuram Rajan
Economist Raghuram G. Rajan served as the Chief Economist and Director of Research at the International Monetary Fund from 2003–2006 before taking on the role as 23rd Governor of the Reserve Bank of India. He is currently the Katherine Dusak Miller Distinguished Service Professor of Finance at the University of Chicago Booth School of Business.
Books similar to Fault Lines
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Costas Lapavitsas
Crisis in the Eurozone. Verso, 2012.
Adam Tooze
How a Decade of Financial Crises Changed the World. Viking, 2018.
Kate Raworth
Seven Ways to Think Like a 21st-Century Economist. Random House Business Books, 2017.
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