Seven Crashes

The Economic Crises That Shaped Globalization

By: Harold James

Narrated by: Michael Butler Murray

A leading economic historian presents a new history of financial crises, showing how some led to greater globalization while others kept nations apart

The eminent economic historian Harold James presents a new perspective on financial crises, dividing them into "good" crises, which ultimately expand markets and globalization, and "bad" crises, which result in a smaller, less prosperous world. Examining seven turning points in financial history—from the depression of the 1840s through the Great Depression of the 1930s to the COVID-19 crisis—James shows how crashes prompted by a lack of supply, like the oil shortages of the 1970s, lead to greater globalization as markets expand and producers innovate to increase supply. By contrast, crises triggered by a lack of demand—such as the Global Financial Crisis of 2007-2008—result in less globalization as markets contract, austerity measures are imposed, and skepticism of government grows.

By considering not only the times but also the observers who shaped our understanding of each crisis—from Karl Marx to John Maynard Keynes to Larry Summers—James shows how the uneven course of globalization has led to new economic thinking, and how understanding this history can help us better prepare for the future.

©2023 Harold James (P)2023 Ascent Audio

impossible to follow

a couple hours into the book and I've gathered maybe a detail or two from the entire listening so far. it just seems so all over the place - incoherent and without a discernable organization

Very badly written

I don't recall i have ever read such a badly written book. A hodgepodge of historical facts' axiom and quotes. It has no narrative. Some paragraphs or whole sections seem to come out of nowhere.The author often goes on tangents, long unnecessary quotations and sidestories that get nowhere and add nothing to the story, then he would forget what he was talking about.. On and on. I wonder how did Yale agreed to publish it. Awful.
And I didn't like is the cowboy accent.