The Global Financial Crisis and Austerity

A Basic Introduction

David Clark

The Global Financial Crisis and Austerity

David Clark

Distributed for Policy Press at the University of Bristol

160 pages | 1 line drawing | 5 x 7 3/4
Paper $18.00 ISBN: 9781447330394 Published September 2016 For sale in North and South America only
Given the far-reaching impact of both the 2008 financial crash and postcrash austerity policies on so many people’s lives, there exists a need for a succinct, straightforward guide to the situation’s causes and its long-term significance. The Global Financial Crisis and Austerity fulfills that need. Written by an expert in political science, this book spans the fields of finance, economics, and politics to demystify the sometimes arcane world of global finance, such as the shadow banking system, and put the recent financial crisis in its historical context. Addressing a number of themes that economists writing on the crisis tend to neglect, David Clark not only outlines the policy responses of Western governments to the crash, the ensuing recession, and in their turn to austerity, but also reviews the crash’s larger legacy and asks if the crisis is really over. Supplementing his discussion with a glossary of key terms, processes, and institutions, Clark provides an invaluable overview for all of us affected by the crash, offering a range of possible scenarios for the future.
Contents
Introduction;
Banking and shadow banking: an overview;
From boom to bust and beyond;
Putting the great financial crash in its place;
Exploring the neoliberal heartland;
Post-crash austerity;
Finance-led capitalism at a crossroads?

 
Review Quotes
Steve Tombs, Open University
“Clark’s political economy of the global financial crisis and its aftermaths is as clinical as it is accessible. It systematically demystifies and therefore empowers. This book deserves a wide readership.”
Andrew Gamble, University of Cambridge
“We are still living in the shadow of the 2008 financial crash. Clark provides an impressive overview of its causes and consequences, and how it has been interpreted.”
Andrew Hindmoor, University of Sheffield
“As a simple-to-read introduction to and look back upon the financial crisis, this is as good at it gets.”
Simon Lee, University of Hull
“Clark has written an insightful introduction to the causes and consequences of the global financial crisis, to be welcomed both for its brevity and clarity.”
For more information, or to order this book, please visit http://www.press.uchicago.edu
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