Crashed

WINNER OF THE LIONEL GELBER PRIZE
A NEW YORK TIMES NOTABLE BOOK OF 2018
ONE OF THE ECONOMIST'S BOOKS OF THE YEAR
A NEW YORK TIMES CRITICS' TOP BOOK

"An intelligent explanation of the mechanisms that produced the crisis and the response to it...One of the great strengths of Tooze's book is to demonstrate the deeply intertwined nature of the European and American financial systems."--The New York Times Book Review

From a prizewinning economic historian, an eye-opening reinterpretation of the 2008 economic crisis (and its ten-year aftermath) as a global event that directly led to the shockwaves being felt around the world today.

We live in a world where dramatic shifts in the domestic and global economy command the headlines, from rollbacks in US banking regulations to tariffs that may ignite international trade wars. But current events have deep roots, and the key to navigating today's roiling policies lies in the events that started it all-the 2008 economic crisis and its aftermath. Despite initial attempts to downplay the crisis as a local incident, what happened on Wall Street beginning in 2008 was, in fact, a dramatic caesura of global significance that spiraled around the world, from the financial markets of the UK and Europe to the factories and dockyards of Asia, the Middle East, and Latin America, forcing a rearrangement of global governance. With a historian's eye for detail, connection, and consequence, Adam Tooze brings the story right up to today's negotiations, actions, and threats-a much-needed perspective on a global catastrophe and its long-term consequences.

"There have been hundreds of illuminating books on the great financial collapse. Crashed, written to mark its tenth anniversary, will stand for a long time as the authoritative account. In his masterful narrative, the economic historian Adam Tooze achieves several things that no other single author has quite accomplished. Tooze has managed to explain a hugely complex global crisis in its multiple dimensions, and his book combines cogent analysis with a fascinating history of the political and economic particulars."-The New York Review of Books

"An intelligent explanation of the mechanisms that produced the crisis and the response to it...One of the great strengths of Tooze's book is to demonstrate the deeply intertwined nature of the European and American financial systems."-The New York Times Book Review

"An impressive narrative history, weaving together events from around the world with a light touch and a great deal of helpful explanation. Sometimes it feels like Tooze has read every official working paper, memoir and substantive news article on macroeconomics and finance over the past decade. Even for readers who have attempted to follow the twists and turns of events, Tooze adds significant value."-The Washington Post

"The most substantial and insightful account yet written of the financial crisis and it will be required reading for financial policy-makers for years to come."-Times Literary Supplement

"[A] monumental narrative history of 10 years that have reshaped our world...Crashed gives readers a detailed and superbly researched account of the origins and consequences of the wave of financial crises that emanated from the core of the global financial system from 2007. The prose is clear. The scholarship remarkable. Even people who have followed this story closely will learn a great deal."-Martin Wolf, The Financial Times

"Brexit, Trump, Russia's annexation of Crimea in 2014 and China's ever-escalating role in the financial system: Tooze covers them all and much more, in a volume that's as lively as it is long - which is to say very, on both counts...Tooze has made a specialty of financial collapse and historical disaster. He also understands the language of corporate balance sheets and sovereign debt deeply enough to know that he ought to use it sparingly, translating some of the most byzantine gibberish into elegant English."-The New York Times

"There have been many, many books about the financial crisis, but few, if any, have treated it as a world-wide event...This is economic history on an epic scale, and readers who persevere through the book's roughly 600 pages of text will find many surprises...Mr. Tooze has written a valuable book about the challenges of managing a tightly connected world economy. The questions he raises resonate in the Age of Trump."-The Wall Street Journal

"[An] ambitious study of the causes and effects of the financial meltdown that caused the Great Recession... Tooze is not simply telling a story of the financial crisis. Crashed is also the tale of the political intricacies of the crash, the ensuing bailout, and of the great political unraveling that has followed...But it is the configuration of Tooze's analysis that is novel-he darts from the crisis in Washington to monetary politics in Europe, and on to Chinese fiscal policy to explain how interconnected each of these countries' economies are. This sends a clear message to those who believe in nationalist economic policies: We are all in this together, to a greater extent than financial institutions and governments have made clear."-The New Republic

"[An] expansive, essential account of the crisis and the years that followed...Highlighting the economic interconnectedness the world's national economies had achieved by 2008, he shows how the crisis turned the abstract idea of a 'global' economy into something unhappily concrete."-Bookforum

"A compelling new book has arrived which deserves to be at the top of the r