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Global Economic Storms (abridged edition): Their Causes, Similarities & Impact on Growth

Crooks, Lawrence

ISBN 10: 1481001698 / ISBN 13: 9781481001694
Published by CreateSpace Independent Publishing Platform
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Title: Global Economic Storms (abridged edition): ...

Publisher: CreateSpace Independent Publishing Platform

Book Condition:Good

About this title


The Great Depression, like the Great Recession of 2008-2009, has been incorrectly framed as the result of a failure of our banking and investment institutions. This narrow focus on our financial institutions as the key causes of this type of crisis, while ignoring the rest of the economy, has dominated the discussion and our understanding of these events for close to a century. Yet we still have no clear explanation for the slow economic and employment growth that followed each of these two crises, or for the reasons behind the formation of the massive asset bubbles that preceded them and that seem to fly in the face of our belief in rational, efficient financial markets. Like major storms and other weather events, these economic convulsions have understandable underlying causes. This book provides a broader framework in which to understand these fundamental forces and how they shaped the events of the Great Depression and our recent Recession. These two global economic storms were not the only ones of the industrial age but were preceded by the Long Depression, which started in 1873 and also impacted the rest of the world. It is only in the last two centuries that we have experienced rapid economic growth that was faster than population growth. This rapid growth was clustered in the early industrializing countries and was unequal as industrialization initially diffused across Europe and the US. The US today finds itself in a similar position to the British Empire in 1873, which was the start of the transition from British to US economic dominance. Not understanding the underlying forces and causes of these three economic storms confines us to incomplete and ineffective solutions today. Global Economic Storms is the first and only book to probe to the root causes of these great crises and to lay out a rational approach to addressing those that loom on our horizon.

About the Author:

Lawrence Crooks is a leading industrial consultant with well over 25 years of experience in the United States and internationally. He has worked with various companies on productivity improvements from pure process-based changes to more technologically supported improvements. He has worked with companies in growing markets as well as in mature and declining markets across a number of economic sectors. These sectors include durable and non-durable goods manufacturing, utilities, communications, transportation, government and others. He has dealt with most major functional departments of businesses, from large, multi-national corporations to smaller, single-focus enterprises, providing advice on production, service, finance, marketing, human resources and other back office functions. His real-world experience on how companies truly work provides a unique perspective of the economy that many classically trained economists do not have. His experienced has helped shape the economic model used in this book as well as the view of economic events presented. Global Economic Storms is the only book that provides a non-financially focused perspective on today’s economic crises and the slow growth that continues in its wake. Mr. Crooks earned an MBA from Sloan School of Management in addition to a B.S. from M.I.T. in Electrical Engineering and Computer Science.

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