The Shifts and the Shocks
What We've Learned - and Have Still to Learn - from the Financial Crisis
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Narrated by:
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Sean Pratt
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By:
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Martin Wolf
About this listen
From the chief economic commentator for the Financial Times, a brilliant tour d’horizon of the new global economy and its trajectory. There have been many books that have sought to explain the causes and courses of the financial and economic crisis which began in 2007-2008. The Shifts and the Shocks is not another detailed history of the crisis, but the most persuasive and complete account yet published of what the crisis should teach us about modern economies and economics. The audiobook identifies the origin of the crisis in the complex interaction between globalization, hugely destabilizing global imbalances and our dangerously fragile financial system. In the eurozone, these sources of instability were multiplied by the tragically defective architecture of the monetary union. It also shows how much of the orthodoxy that shaped monetary and financial policy before the crisis occurred was complacent and wrong. In doing so, it mercilessly reveals the failures of the financial, political and intellectual elites who ran the system. The book also examines what has been done to reform the financial and monetary systems since the worst of the crisis passed. "Are we now on a sustainable course?" Wolf asks. "The answer is no." He explains with great clarity why "further crises seem certain" and why the management of the eurozone in particular "guarantees a huge political crisis at some point in the future." Wolf provides far more ambitious and comprehensive plans for reform than any currently being implemented. Written with all the intellectual command and trenchant judgment that have made Martin Wolf one of the world’s most influential economic commentators, The Shifts and the Shocks matches impressive analysis with no-holds-barred criticism and persuasive prescription for a more stable future. It is a book no one with an interest in global affairs will want to neglect.
PLEASE NOTE: When you purchase this title, the accompanying reference material will be available in your My Library section along with the audio.©2014 Martin Wolf (P)2014 Gildan Media LLCListeners also enjoyed...
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don't be misled
- By peter on 04-01-12
By: James Rickards
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Dead Aid
- Why Aid Is Not Working and How There Is a Better Way for Africa
- By: Dambisa Moyo, Niall Ferguson - foreword
- Narrated by: Mike Chamberlain
- Length: 6 hrs and 29 mins
- Unabridged
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A national best-seller, Dead Aid unflinchingly confronts one of the greatest myths of our time: that billions of dollars in aid sent from wealthy countries to developing African nations has helped to reduce poverty and increase growth. In fact, poverty levels continue to escalate and growth rates have steadily declined - and millions continue to suffer. Debunking the current model of international aid promoted by both Hollywood celebrities and policy makers, Dambisa Moyo offers a bold new road map for financing the development of the world's poorest countries.
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Dangerous / Right Wing US view
- By David O'Donovan on 03-05-19
By: Dambisa Moyo, and others
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Globalization and Its Discontents
- By: Joseph E. Stiglitz
- Narrated by: Derek Perkins
- Length: 10 hrs and 33 mins
- Unabridged
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This powerful, unsettling book gives us a rare glimpse behind the closed doors of global financial institutions by the winner of the 2001 Nobel Prize in Economics. When it was first published, this national best-seller quickly became a touchstone in the globalization debate. Renowned economist and Nobel Prize winner Joseph E. Stiglitz had a ringside seat for most of the major economic events of the last decade, including stints as chairman of the Council of Economic Advisers and chief economist at the World Bank.
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Plea
- By Asma on 10-13-20
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Other People's Money
- The Real Business of Finance
- By: John Kay
- Narrated by: Walter Dixon
- Length: 11 hrs and 54 mins
- Unabridged
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Overall
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Performance
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Story
The finance sector of Western economies is too large and attracts too many of the smartest college graduates. Financialization over the past three decades has created a structure that lacks resilience and supports absurd volumes of trading. The finance sector devotes too little attention to the search for new investment opportunities and the stewardship of existing ones, and far too much to secondary-market dealing in existing assets. Regulation has contributed more to the problems than the solutions.
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Listened twice. Everyone must read this.
- By Tristan on 01-18-16
By: John Kay
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Collusion
- How Central Bankers Rigged the World
- By: Nomi Prins
- Narrated by: Ellen Archer
- Length: 14 hrs and 30 mins
- Unabridged
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In this searing exposé, former Wall Street insider Nomi Prins shows how the 2007-2008 financial crisis turbo-boosted the influence of central bankers and triggered a massive shift in the world order. Packed with tantalizing details about the elite players orchestrating the world economy, Collusion takes the listener inside the most discreet conversations at exclusive retreats like Jackson Hole and Davos. A work of meticulous reporting and bracing analysis, Collusion will change the way we understand the new world of international finance.
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Fair history survey, lazy characterizations
- By Philo on 05-09-18
By: Nomi Prins
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The Instant Economist
- Everything You Need to Know About How the Economy Works
- By: Timothy Taylor
- Narrated by: Don Hagen
- Length: 9 hrs and 35 mins
- Unabridged
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Economics isn't just about numbers: It's about politics, psychology, history, and so much more. We are all economists - when we work, save for the future, invest, pay taxes, and buy our groceries. Yet many of us feel lost when the subject arises. Award-winning professor Timothy Taylor here tackles all the key questions and hot topics of both microeconomics and macroeconomics, so you can understand and discuss economics on a personal, national, and global level.
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Timothy Taylor is the best
- By Jake on 02-15-15
By: Timothy Taylor
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Why Save the Bankers?
- And Other Essays on Our Economic and Political Crisis
- By: Thomas Piketty, Seth Ackerman - translator
- Narrated by: LJ Ganser
- Length: 5 hrs and 1 min
- Unabridged
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Thomas Piketty's work has proved that unfettered markets lead to increasing inequality. Without meaningful regulation, capitalist economies will concentrate wealth in an ever smaller number of hands. Armed with this knowledge, democratic societies face a defining challenge: fending off a new aristocracy. For years Piketty has wrestled with this problem in his monthly newspaper column, which pierces the surface of current events to reveal the economic forces underneath.
By: Thomas Piketty, and others
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The Ascent of Money
- A Financial History of the World
- By: Niall Ferguson
- Narrated by: Simon Prebble
- Length: 11 hrs and 27 mins
- Unabridged
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Niall Ferguson follows the money to tell the human story behind the evolution of finance, from its origins in ancient Mesopotamia to the latest upheavals on what he calls Planet Finance. Bread, cash, dosh, dough, loot, lucre, moolah, readies, the wherewithal: Call it what you like, it matters. To Christians, love of it is the root of all evil. To generals, it's the sinews of war. To revolutionaries, it's the chains of labor. Niall Ferguson shows that finance is in fact the foundation of human progress.
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A mostly successful and interesting history
- By A reader on 02-24-09
By: Niall Ferguson
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The Rise of Carry
- The Dangerous Consequences of Volatility Suppression and the New Financial Order of Decaying Growth and Recurring Crisis
- By: Tim Lee, Jamie Lee, Kevin Coldiron
- Narrated by: Todd Belcher
- Length: 7 hrs and 29 mins
- Unabridged
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The financial shelves are filled with books that explain how popular carry trading has become in recent years. But none has revealed just how significant a role it plays in the global economy - until now. A groundbreaking book sure to leave its mark in the canon of investing literature, The Rise of Carry explains how carry trading has virtually shaped the global economic picture - one of decaying economic growth, recurring crises, wealth disparity, and, in too many places, social and political upheaval.
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Good framework, games out the possibilities
- By Philo on 11-24-21
By: Tim Lee, and others
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Naked Money
- A Revealing Look at What It Is and Why It Matters
- By: Charles Wheelan
- Narrated by: Jonathan Davis
- Length: 13 hrs and 11 mins
- Unabridged
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Consider the $20 bill. It has no more value, as a simple slip of paper, than Monopoly money. Yet even children recognize that tearing one into small pieces is an act of inconceivable stupidity. What makes a $20 bill actually worth $20? In the third volume of his best-selling Naked series, Charles Wheelan uses this seemingly simple question to open the door to the surprisingly colorful world of money and banking.
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This is a beautiful audiobook, and well-narrated.
- By Thirsty Mind on 11-10-18
By: Charles Wheelan
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Putinomics
- Money and Power in Resurgent Russia
- By: Chris Miller
- Narrated by: Traber Burns
- Length: 8 hrs and 4 mins
- Unabridged
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Performance
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Story
In Putinomics, Chris Miller examines the making of Russian economic policy since Vladimir Putin took power in 1999. Miller argues that Putin's economic strategy has functioned far more effectively than most Westerners realize. While acknowledging that part of Putin's successes - above all, quadrupling per capita GDP in just a decade and a half - can be attributed to cashing in on high oil prices, Miller details the government policies that have also been fundamental to Russia's growth.
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Go find something better
- By Anonymous User on 08-04-21
By: Chris Miller
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Listened twice. Everyone must read this.
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Money Mischief
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This book is not unabridged.
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Manias, Panics, and Crashes (Seventh Edition)
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Rambling and muddled.
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Easy to Understand and Comprehend
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Listened twice. Everyone must read this.
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Economics drives the modern world and shapes our lives, but few of us feel we have time to engage with the breadth of ideas in the subject. 50 Economics Classics is the smart person's guide to two centuries of discussion of finance, capitalism, and the global economy. From Adam Smith's Wealth of Nations to Thomas Piketty's best-seller Capital in the Twenty-First Century, here are the great books and seminal ideas, clarified and illuminated for all.
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This book is not unabridged.
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What listeners say about The Shifts and the Shocks
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- Shirlee
- 11-21-24
Very well organized and yhoughtful
Overwhelming story about world economics and banking history. Well organized story and thoughtful. Enjoyed it very much.
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- Philo
- 01-08-15
Good on Europe's problems, fair global update
The Gordian knot entangling the Euro members is fascinating and well explicated. This author's prescriptions strike me as pretty straightforward neo-(neo-) Keynesian, but I wouldn't let that dissuade me from hearing him out. He does at least roughly map a lot of areas that need vigilance -- we are not (ever) out of the woods.
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2 people found this helpful
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- Kindle Customer
- 02-09-15
Powerful analysis
definitive analysis of the crisis. Hard to follow for the nonexpert. But crucial read on how the crisis started and what to do now.
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- Yaroslav
- 08-12-18
A great book but a paper version can be easier to digest.
I liked this book a lot. It provides a great summary of what happened before and after the Great Recession. It gave an especially good account of EZ on-going crisis. The policy recommendations such As more aggressive monetary policy and more fiscal stimulus at a 0 lower bound were well justified and convincing. Wolf’s forecast that the crisis would end up in populism explosion was correct.
Still it was difficult to digest. It could have been better to separate the book into 2 parts: EZ crisis and Great Recession. Jumping from one to another every chapter was confusing.
Although the narration was unchanged through out the book sometimes it felt too slow and instead of helping to focus it actually allowed the mind to drift away so I had to return back and listen again numerous times. Hence, it might have been better to have a paper copy in this particular case. Nonetheless, regardless of the format I cannot recommend this book more.
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Overall
- Richard
- 03-07-16
We have lots of problems
Although I found this book harder to read and understand compared with Thomas Pikettys Capital in the 21st century, it does a good job of explaining realistic approaches to try and solve the worlds economic problems. In large parts its solutions are based on Keynesian growth models and does a good job destroying the myths about why doing nothing to solve financial crises do not work. However as a reader with only an average understanding of financial markets, I found the book at times difficult to understand and boring.
The book has however made me feel depressed as its solutions seem along way from being introduced throughout the world and so instability, violence and turmoil seem likely.
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- Pablo
- 04-03-15
Good book, well written as usual.
Well written, as one can expect from Martin Wolf. He is an excellent synthesizer of different schools of thought. However, he does have the typical Englishman view of European integration: doesn't understamd what binds Europeans together. It's the Politics, silly.
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- Julia
- 12-04-14
Don't waist your time on this book
Would you try another book from Martin Wolf and/or Sean Pratt?
No.
What do you think your next listen will be?
Some insightful great biographic books
Would you be willing to try another one of Sean Pratt’s performances?
No. Not at all.
If you could play editor, what scene or scenes would you have cut from The Shifts and the Shocks?
Do more homework to analyze and probe the reasons / fundamental of financial crises .rather than gather old news , repeat phenomenons with useless critics. A book with no depth
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2 people found this helpful