Summary of The Shifts and the Shocks
From THE SHIFTS AND THE SHOCKS by Martin Wolf. Summarized by arrangement with Penguin Press, an imprint pf Penguin Publishing Group, a division of Penguin Random House LLC.
Looking for the book?
We have the summary! Get the key insights in just 10 minutes.
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
By the same author
Martin Wolf and Hans-Paul Bürkner
Boston Consulting Group, 2015
Johns Hopkins UP, 2008
Yale UP, 2004
Customers who read this summary also read
G. Andrew Karolyi
Oxford UP, 2015
Friedrich A. Hayek
University of Chicago Press, 2007
Columbia UP, 2017
F. A. Hayek