Summary of Breaking the Wall of Global Economic Crises

How Macroeconomics Shape the Financial Architecture of Tomorrow

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Breaking the Wall of Global Economic Crises summary
Economic interconnectivity among nations threaten the independence of sovereign monetary policies.


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Economics professor Hélène Rey explores how soaring global financial interconnectivity leaves little scope for nations to exercise independent monetary policies. Although Rey’s insightful, succinct analysis covers the problem more than the solutions, getAbstract believes policy makers, economists and investors will appreciate her thoughtful revelations on the consequences of an interconnected global economy.

In this summary, you will learn

  • How global capital flows have shifted since the late 19th century,
  • What the “Mundellian trilemma” reveals about the nature of macroeconomics and
  • How the free movement of capital is influencing the independence of countries’ monetary policies.


The current period of robust international capital flows is not novel. Money crossed borders freely at the end of the 19th century. Before World War I, people could, via telephone, buy goods or invest in companies located anywhere in...
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About the Speaker

Hélène Rey is a professor of economics at the London Business School.

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