Fault Lines
Raghuram Rajan was one of the few economists who warned of the global financial crisis before it hit. As the world struggles to recover, he warns that a potentially more devastating crisis awaits us if they aren't fixed. In Fault Lines, Rajan shows how the individual choices made by bankers, government officials, and ordinary homeowners collectively brought about the economic meltdown. He outlines the hard choices we need to make to ensure a more stable world economy and restore lasting prosperity.
Praise for Fault Lines
"Fault Lines provides an excellent analysis of the lessons to be learned from the financial crisis, and the difficult choices that lie ahead. Of the many books written in the wake of our recent economic meltdown, this is the one that gets it right."
― George Akerlof, coauthor of Animal Spirits and Identity Economics
"Amidst the welter of books about our financial crisis, Rajan's book stands out for several reasons: the author's intellectual distinction, his academic and real-world involvement in the problems of finance and the macroeconomy, his global perspective, his search for the roots of the financial crisis in America's growing economic inequality, and also his prescience. In 2005, Rajan foresaw the coming financial collapse―and was fiercely criticized for his insight."
― Richard Posner, author of A Failure of Capitalism
"Beautifully clear, cogent, and highly readable. This is the best book out there on the global imbalances that gave us the last financial crisis and might well give us the next one."
― Kenneth Rogoff, coauthor of This Time Is Different