Nouriel Roubini

Cri­sis Eco­nom­ics: A Crash Course in the Future of Finance by Nouriel Roubini and Stephen Mihm is a non-fiction finan­cial book.

I thought Cri­sis Eco­nom­ics: A Crash Course in the Future of Finance by Nouriel Roubini and Stephen Mihm was a very inter­est­ing book, offer­ing solu­tions to a sta­bi­lize the finan­cial sys­tem. Even though the book might no longer be as rel­e­vant as it was when it was writ­ten, it is still fascinating.

The book gives a good overview of cap­i­tal­ism from the point of view of the cri­sis that hap­pens every once in a while, before and after reforms. The authors give a clear look about the cri­sis of 2008 and what got us into it, as well as what long-term improve­ments should be done.

The authors go on to give some good, solid advice which is likely never to be imple­mented. Much of the pro­pos­als are polit­i­cally poi­so­nous (let­ting the Bush tax cuts expire in 2010), or will not gain sup­port in gov­ern­ment and espe­cially with the finan­cial industry.

The book ends with a gloomy look into the future – some of it seems to be com­ing true these days (China start­ing to fall, Europe is on finan­cial brink). A very inter­est­ing book for those who want to an overview of the finan­cial cri­sis with­out going into too much detail or more com­plex reading.

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A little disappointing- the book isn't all that well organized, the 'solutions' offered are focused almost entirely on stabilizing the financial system, and it's frightening to see how quickly a book like this can be outdated.

Now obviously the problem of being outdated can't be laid at the authors' feet; and there's nothing particularly wrong with wanting to stabilize the financial system. I just come from a different world: when you promise 'radical' measures, I don't expect things like "do a better job regulating derivatives, and break up the too big to fail banks." I'm not sure what I expected, but certainly something more highly charged than that. This isn't at all a guide to crisis economics. It's a guide to regulating the financial sector after one particular crisis.

As for organization, I suspect they just tried to do too much- a history of the crash, complete with explanation of every term; a list of proposed and pursued solutions; a list of their preferred solutions. The prose is skimmable, an perfectly clear, but also made me sleepy.

All that said, it's probably a good one stop shop for those who are curious but can't be bothered reading more than one book.… (plus d'informations)