Summary of The Shifts and the Shocks

Looking for the book?
We have the summary! Get the key insights in just 10 minutes.

The Shifts and the Shocks book summary
Start getting smarter:
or see our plans


7 Overall

8 Importance

7 Innovation

7 Style


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.

In this summary, you will learn

  • How low global inflation and interest rates misdirected advanced economies’ macroeconomic policies;
  • Why aiming for business as usual is dangerous; and
  • Which reforms in money creation, bank equity levels and reserve currencies could make economies more resilient.

About the Author

Associate editor and chief economics commentator at The Financial Times, Martin Wolf has received many awards for journalism. His previous books include Why Globalization Works and Fixing Finance.


Comment on this summary

More on this topic

By the same author

Customers who read this summary also read

More by category