Seven Crashes, Harold James
Seven Crashes, Harold James
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Seven Crashes
The Economic Crises That Shaped Globalization

Author: Harold James

Narrator: Michael Butler Murray

Unabridged: 14 hr 32 min

Format: Digital Audiobook Download

Publisher: Ascent Audio

Published: 05/16/2023


Synopsis

A leading economic historian presents a new history of financial crises, showing how some led to greater globalization while others kept nations apart

The eminent economic historian Harold James presents a new perspective on financial crises, dividing them into "good" crises, which ultimately expand markets and globalization, and "bad" crises, which result in a smaller, less prosperous world. Examining seven turning points in financial history—from the depression of the 1840s through the Great Depression of the 1930s to the Covid-19 crisis—James shows how crashes prompted by a lack of supply, like the oil shortages of the 1970s, lead to greater globalization as markets expand and producers innovate to increase supply. By contrast, crises triggered by a lack of demand—such as the Global Financial Crisis of 2007–2008—result in less globalization as markets contract, austerity measures are imposed, and skepticism of government grows.

By considering not only the times but also the observers who shaped our understanding of each crisis—from Karl Marx to John Maynard Keynes to Larry Summers—James shows how the uneven course of globalization has led to new economic thinking, and how understanding this history can help us better prepare for the future.

Reviews

Goodreads review by Richard on December 01, 2023

A worthwhile read on the whole. That having been said, my reaction is the author does a better job analyzing the chosen seven “crashes” than demonstrating the linkage(s) between the crisis episodes and the subsequent course of globalization. Spoiler alert: In the introduction section the author does......more

Goodreads review by Shan on May 10, 2025

The idea of this book is good - relating the major changes in the world and how it fostered more globalization. The book covers each major crisis in depth. I felt that the earlier crisis - 1840s and 1870s - were the best written. There were many interesting anecdotes and facts about this time. The Gr......more

Goodreads review by Zachary on April 24, 2025

Had to study for a final today so I panicked and read this (well, at least its last 5 chapters) All in all, pretty interesting. Don't agree with everything but I appreciate James' comprehensiveness. Would only recommend to those already acquainted with its subjects though and not to newbies: James do......more

Goodreads review by Paul on December 25, 2024

Although an informative and clearly thoroughly researched work, James sacrifices clarity of narrative and argument in favour of a barrage of only occasionally relevant detail. The grand case outlined at the start, of successive waves of globalisation and retrenchment, is somewhat lost under it all.......more