{"product_id":"harold-james-seven-crashes-9780300263398","title":"Seven Crashes","description":"A leading economic historian presents a new history of financial crises, showing how some led to greater globalization while others kept nations apart\n\u003cp\u003e\"[A] fascinating book.\"--Martin Wolf, Financial Times, \"Best Books of 2023--Economics\"\u003c\/p\u003e\n\u003cp\u003eThe 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.\u003c\/p\u003e\n\u003cp\u003eBy 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.\u003c\/p\u003e","brand":"Yale University Press","offers":[{"title":"Used - good","offer_id":53497034965334,"sku":"9780300263398-G","price":15.89,"currency_code":"EUR","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0925\/5829\/5382\/files\/product_image_9780300263398_1_ea46ebd2-f8c3-4b96-abcc-d7f41d0fca1e.jpg?v=1778117688","url":"https:\/\/www.momoxbooks.com\/products\/harold-james-seven-crashes-9780300263398","provider":"momoxbooks","version":"1.0","type":"link"}