Summary of The Shifts and the Shocks

This is a radical treatise from Martin Wolf, the chief economics commentator and associate editor of The Financial Times. He argues persuasively that policy makers should force banks to hold more equity, embracing the possibility that the financial sector could shrink drastically as a result. His agenda includes other widely discussed ideas, such as changing the US dollar’s global role and encouraging developing countries to insure themselves against fiscal crisis. While always politically neutral, getAbstract suggests Wolf’s clear language and intriguing arguments to financial professionals, investors and executives.