Beyond the Crash: Overcoming the First Crisis of Globalization - Softcover

Brown, Gordon

Softcover

ISBN 10: 1451624069 ISBN 13: 9781451624069

Publisher: Free Press, 2014

Synopsis

Former British Prime Minister and Chancellor of the Exchequer Gordon Brown believes the international financial crisis can be reversed, but that the world's leaders must work together if we are to avoid a decade of lost jobs and low growth. Brown speaks both as someone who was in the room driving discussions that led to some crucial decisions, and as an expert renowned for his financial acumen. No one who had Brown's access has written about the crisis yet, and no one has written so convincingly about what the global community must do next in order to climb out of this abyss. As he sees it, the crisis was brought on not simply by technical failings, but by ethical failings too. He argues that markets need morals, and suggests that the only way to truly ensure that the world economy does not flounder again is to institute a banking constitution and a global growth plan.--From publisher description.

About this title

About the Author:

  Gordon Brown served as British Prime Minister and leader of the Labour Party from 2007 to 2010. He served as Chancellor of the Exchequer from 1997 to 2007, making him the longest-serving Chancellor in modern history. Brown's time as Chancellor was marked by major reform of Britain's monetary and fiscal policy and sustained investment in health, education, and overseas aid. As Prime Minister, his tenure coincided with the recent financial crisis, and he was one of the first to initiate calls for global financial action; his administration also simultaneously introduced a range of rescue measures within the country. Brown has a Ph.D. in History from the University of Edinburgh, and he spent his early career working as a television journalist. He has been a Member of Parliament since 1983. He is married to Sarah Brown, a charity campaigner, and the couple has two young sons.

Review:

'"Brown's] book is gripping because his matter-of-fact recounting of the early months of the crisis conveys the dilemmas and angst of polictymakers as they tried to handle the biggest economic drama in decades... The book conveys well Brown's sense of history, the rapid pace of change in the global economy and the failures of unfettered markets to manage things on their won. But it also conveys his moral sensibilities. He was a finance Minster who realized that finance was not an end in itself; that the true gauge of an economy was how it affected the well-being of its citizens. He was concerned about unemployment, not just inflation.... What is clear from this book is that Brown knew what needed to be done and tried to do it at a time when others were paralysed, captured by the financial community, or deluded by their past mistakes into trying to underestimate the severity of the crisis that their policies has helped create." --Joseph Stiglitz, Financial Times

"When the economic crisis erupted in 2008-9, Brown, like Churchill in 1940, was the right man in the right place at the right time. He'd had 10 years as chancellor of the exchequer. He'd read widely and thought deeply about economics, finance, globalization. He was the one national leader who came to the crisis with a plan and the authority to push it through...This is his story of how he did it, told soberly, clearly, compellingly. It is not a defence of his premiership, but his personal account of a heroic moment in it. He does not claim credit for "saving the world", but lets the story speak for itself, and praises the contribution of his own team and the other world leaders. It is an interrupted story, because he did not survive long enough politically to finish the job. Since he left the scene efforts to co-ordinate recovery policies have fallen to pieces. This is the measure of his achievement – and the hole that his departure left." --Robert Skidelsky, The Guardian

About this edition

• Publisher: Free Press
• Publication date: 2014
• ISBN 10: 1451624069
• ISBN 13: 9781451624069
• Binding: Paperback
• Number of pages: 336