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The 2008 Crisis Ten Years On: in Retrospect, Context and Prospect

Arturo Hermann, Maria Alejandra Madi

Published 21 Jun 2020 by WEA Books

Where to buy this book

Paperback and Kindle versions available via Amazon UK


On the heels of a second crisis in just over a decade, this book could not be more timely. There are so many lessons to learn in order not to repeat the same mistakes. This book rises to the occasion. It brings together a list of stellar scholars that not only ask the burning questions about crises and financialisation, but offer insightful analysis and policy recommendations. This book is a must-read for every student in economics.

Louis Philippe Rochon, Laurentian University, Co-editor, Review of Political Economy, Founder, Review of Keynesian Economics

This book on such an important subject is very timely for learning lessons about how not to deal with recessions whether induced by financial or health-related problems.

Grazia Ietto-Gillies, London South Bank University and Birkbeck University of London

This book results from a 2018 WEA conference, i.e. the pre-Corona world. What the book greatly demonstrates is the continuity from the 2008 financial meltdown, mega bail-outs, subsequent fiscal crises, and lingering Great Recession, the imbalances, which exactly have prepared the 2020 financial crisis. The latter, and the crisis of the very globalisation that we now clearly see, would have appeared around 2020 anyway; ‘Corona’ is not the reason for them, although a heavy reinforcer of the real economic crisis. Nor is ‘Corona’ the reason, but just another catalyst, of the reinforced crisis of the EU. So this book is a perfect bridge builder between the two crises, 2008 and 2020, which in fact are just two major actualizations of the same structural crisis that the book is dealing with. The book is also highly valuable for its discussion of institutional alternatives to this lingering global crisis.

Wolfram Elsner, University of Bremen, Germany

As the world navigates many challenges posed by COVID-19, it is even more important to examine prior economic crises and consider ways to rebalance the ‘economic’ and ‘social’. This book helps us learn from mistakes, draw from effective strategies, and better understand the institutional context underlying the sustainability (or lack thereof) of our collective efforts.

Dr Tonia L. Warnecke, Department of Social Entrepreneurship, Rollins College, Florida, USA

The book is based on a collection of papers presented at the World Economics Association in 2018 reconsidering the Great Financial Crisis from the perspective of ten years out. This is a much needed compendium of articles, unique in taking a global perspective. Scholars of the Great Financial Crisis, the world economy, and the impact on the poor and disenfranchised should find this collection interesting, important, and stimulating. Further, the essays offer a series of institutional changes necessary to avoid such an event happening again.

John Watkins, Westminster College, Utah and University of Utah, USA

This timely book provides a thoughtful, retrospective look at the last major economic crisis. It should provide useful insights as we face the extensive, worldwide, economic disruption that is likely to come in the wake of the current coronavirus pandemic.

Richard V. Adkisson, New Mexico State University, USA

ISBN (eBook):978-1911156536
ISBN (print):1911156535