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From an economist who warned of the global financial crisis, a new warning about the continuing peril to the world economy

Raghuram Rajan was one of the few economists who warned of the global financial crisis before it hit. Now, as the world struggles to recover, it's tempting to blame what happened on just a few greedy bankers who took irrational risks and left the rest of us to foot the bill. In Fault Lines, Rajan argues that serious flaws in the economy are also to blame, and warns that a potentially more devastating crisis awaits us if they aren't fixed.

Rajan shows how the individual choices that collectively brought about the economic meltdown -- made by bankers, government officials, and ordinary homeowners -- were rational responses to a flawed global financial order in which the incentives to take on risk are incredibly out of step with the dangers those risks pose. He traces the deepening fault lines in a world overly dependent on the indebted American consumer to power global economic growth and stave off global downturns. He exposes a system where America's growing inequality and thin social safety net create tremendous political pressure to encourage easy credit and keep job creation robust, no matter what the consequences to the economy's long-term health; and where the U.S. financial sector, with its skewed incentives, is the critical but unstable link between an overstimulated America and an underconsuming world.

In Fault Lines, Rajan demonstrates how unequal access to education and health care in the United States puts us all in deeper financial peril, even as the economic choices of countries like Germany, Japan, and China place an undue burden on America to get its policies right. He outlines the hard choices we need to make to ensure a more stable world economy and restore lasting prosperity.

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Price Summary

  • We started tracking this book on December 27, 2013.
  • This book was £6.77 when we started tracking it.
  • The price of this book has changed 171 times in the past 3,745 days.
  • The current price of this book is £14.22 last checked 15 hours ago.
  • This lowest price this book has been offered at in the past six months is £12.32.
  • This lowest price this book has been offered at in the past year is £10.99.
  • The lowest price to date was £6.77 last reached on December 27, 2013.
  • This book has been £6.77 one time since we started tracking it.
  • The highest price to date was £14.24 last reached on August 26, 2022.
  • This book has been £14.24 one time since we started tracking it.

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Additional Info

  • Text-to-Speech: Enabled
  • Lending: Disabled
  • Print Length: 283 Pages
  • File Size: 681 KB

We last verified the price of this book about 15 hours ago. At that time, the price was £14.22. This price is subject to change. The price displayed on the Amazon.co.uk website at the time of purchase is the price you will pay for this book. Please confirm the price before making any purchases.