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Crisis Economics: A Crash Course in the Future of Finance

3.81  ·  Rating Details  ·  1,859 Ratings  ·  103 Reviews
This myth shattering book reveals the methods Nouriel Roubini used to foretell the current crisis before other economists saw it coming and shows how those methods can help us make sense of the present and prepare for the future.

Renowned economist Nouriel Roubini electrified his profession and the larger financial community by predicting the current crisis well in advance
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Hardcover, 368 pages
Published May 11th 2010 by Penguin Press (first published May 1st 2010)
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Community Reviews

(showing 1-30 of 3,000)
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Shua
Aug 15, 2012 Shua rated it liked it
I have a terrible affliction. Its like a python coiled around my neck; its trying to squeeze my throat but I can pull on the snake just hard enough to keep from suffocating. Recently, I stopped resisting my reptilian oppressor and that's when I started watching cable news again.

I know cable news will crush my wind pipe and deprive my brain of oxygen, but I get tired from the struggle and give in. And when I give in, I hear the most absurd and illogical assertions from the talking skulls on the s
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Han C.
Dec 12, 2010 Han C. rated it really liked it
Roubini is a smart dude who manages to tell an interesting and informative story without resorting to hyperbole. Unfortunately, the same cannot be said about the book's editors, who presumably wrote the following shamelessly self-indulgent and misleading description: "This myth shattering book reveals the methods Nouriel Roubini used to foretell the current crisis before other economists saw it coming and shows how those methods can help us make sense of the present and prepare for the future." ...more
Mark Rossiter
Dec 13, 2012 Mark Rossiter rated it really liked it
I just finished a book of this name by Nouriel Roubini (famous for predicting the 2008 crash) and Stephen Mihn. It’s hardly a work of art, and in places quite dreadfully written (how about this for a string of cliches: “[shareholders] don’t actually have much skin in the game. They’ve put up some of the bank’s capital, but not a whole lot of it, and while they don’t want to lose their shirts, they’re fine turning a blind eye when traders roll the dice”; or this: “When things go south, traders an ...more
Owen
Jul 05, 2011 Owen rated it liked it
If you predict that mortgage crash, predict which companies will be allowed to go bust and what order it will happen in 2 years out, then you get a book deal. The first half of the book seemd almost like the fulfillment of a contract. There was a lot of repetitive history. Informative, yes, but not terribly interesting to start. The second half (or so) of the book gets much more useful. Roubini outlines the pros and cons of dozens of regulatory strategies and paths for the future. I began to fee ...more
Zohar - ManOfLaBook.com
Mar 18, 2016 Zohar - ManOfLaBook.com rated it liked it
Shelves: 2015
Crisis Economics: A Crash Course in the Future of Finance by Nouriel Roubini and Stephen Mihm is a non-fiction financial book.

I thought Crisis Economics: A Crash Course in the Future of Finance by Nouriel Roubini and Stephen Mihm was a very interesting book, offering solutions to a stabilize the financial system. Even though the book might no longer be as relevant as it was when it was written, it is still fascinating.

The book gives a good overview of capitalism from the point of view of the cri
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Marcus
Jun 21, 2010 Marcus rated it liked it
Crisis Economics is more of a history book than a casual read about the recent crisis. The book provides a history of economic crisis since the 1600's with a brief description of each. This history lesson ends with the 2008-2009 financial crisis. The history lesson supports the book's central themes (1) economic crisis are not the exception, but rather a part of the normal economic cycle (2) A building economic crisis can be recognized. These themes dispute claims of mainstream economists and ce ...more
Barry
Jun 28, 2012 Barry rated it it was amazing  ·  review of another edition
All in all, a comprehensive, albeit understandable for the economic novice, account of the most recent global financial crisis, what "caused" it, the historic precedence, and how to move forward. That being said, the reader must use caution as he continues through he chapters, as it becomes increasingly difficult to differentiate fact from the authors' (highly academic/informed, and political central) own opinions. This is not to say that all sides are not presented, quite the contrary. However, ...more
Robert Chapman
Feb 18, 2013 Robert Chapman rated it it was amazing  ·  review of another edition
Shelves: economy
I gave this book five stars because I found it to be the best one stop shop on the topic. I’ve read a lot of different books on the recent crash and each of them tends to focus on a specific influence such as the slicing and dicing of mortgages or currency devaluation.

This book has it all from the history of previous crashes, the full story line of the recent crash, and a complete set of recommendations on what needs to be fixed to avoid a similar or worse crash happening in the future. Above al
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Lychee
Oct 23, 2010 Lychee rated it really liked it
Extremely readable book about economics. Read more like a thriller and often kept me on the edge of my seat. News stories about economics are much more understandable. While the authors have a particular perspective, I felt like they provided a wealth of information and attended fairly to diverging viewpoints. Very impressed with their ability to take such a complex and dry topic (at least to readers such as myself) and produce such an engaging and informative overview, not only of the current c ...more
Noah Stacy
Sep 18, 2010 Noah Stacy rated it it was ok
A bit too polemical for me, perhaps due to the audiobook narrator--I've heard him before, and he often lets a hint of a righteous sneer sneak into his tone when the authors are responding to some opposition view.

Besides that, I am suspicious of Roubini's conviction that crises are essentially predictable. We look at history with the benefit of hindsight; causes and effects seem crystal clear, and we wonder how we could be such fools. But life has to be lived forward, and the crystal ball is alw
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John Hibbs
Feb 21, 2011 John Hibbs rated it it was amazing
An exceptional work that provides a superb analysis of the sources and causes of the financial crisis. The authors also provide sage recommendations for the necessary reforms that must be enacted.

This is a book that will appeal to both financial laymen (such as myself) and practitioners steeped in financial necromancy. A great starting point for those who work all their lives for money, but are clueless about how money works. If you have to read one book on the financial crisis, this is it.
Matt Cooper
Dec 24, 2015 Matt Cooper rated it it was amazing
Would highly recommend to anyone wishing to understand both the foundations and the implications of the 2007 economic crisis. Having read a number of books on the events of the last five years, I found the Roubini and Mihm text cogent, powerful and the implications particularly interesting.

Given Roubini's previous foresight I would advise others to read and take on board his prognosis.
Venky
Sep 30, 2014 Venky rated it really liked it
Shelves: bibliocase
The original prophet of economic doom, Nouriel Roubini lays bare the spiraling greed that inspired, irrigated and ignited the calamitous financial crisis of 2008. Governments will learn from this, the layman will both fume and fret, while investment bankers would collectively wish to put bullets through the heads of the authors!
Aderyn
May 09, 2015 Aderyn rated it really liked it
As an ex bank currency and money market traders, our defence for speculative trading was that economics was an art and not science. Having read this book, the author have proven that economic is rigorous science. In my reality in the past ,market players in the financial system ridden mainly on the animal spirit behaviours rather than the rationality of the science of economic. The author hit the nail that it was short term interest incentives that rewarded the market . Infact the system of remu ...more
Robert
Jun 18, 2015 Robert rated it really liked it
Shelves: history, economics
Crisis Economics: A Crash Course in the Future of Finance by Nouriel Roubini and Stephen Mihm is a must-read for anyone who wants to know why the Great Recession of 2008 happened and where we should go from here. Roubini and Mihm dispel a number of myths about crises and explain why they happen. While many in the financial community treat these crises as “black swans” or rare occurrences, the authors believe that instead we should treat them as common “white swans”. The authors also take the tim ...more
Jonathan Chen
Dec 19, 2013 Jonathan Chen rated it liked it
"Crisis Economics" offers a comprehensive view of past economic crises, with an emphasis on the Great Recession of 2008. And course, Roubini offers his take on how to fix the various problems that plague our financial system. My main problem with the book is that Roubini does not offer any suggestions for the average investor. The average Joe is concerned with his mortgage, 401k, and saving for his kid' college tuition. The average Joe also has no say on the shenanigans on Wall Street and in con ...more
Justin Evans
Oct 06, 2012 Justin Evans rated it liked it
Shelves: history-etc
A little disappointing- the book isn't all that well organized, the 'solutions' offered are focused almost entirely on stabilizing the financial system, and it's frightening to see how quickly a book like this can be outdated.

Now obviously the problem of being outdated can't be laid at the authors' feet; and there's nothing particularly wrong with wanting to stabilize the financial system. I just come from a different world: when you promise 'radical' measures, I don't expect things like "do a
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Converse
Dec 14, 2011 Converse rated it liked it
I listened to the audio version from audible.com. This book is mainly about the financial crisis of 2008, and appears to have been completed in 2010 before the financial reform legislation (the Dodd-Frank act) passed the United States Congress. Although it goes over some familiar ground, such as the role of derivatives and the easy money policy of the Federal Reserve in the years just prior to the crisis, it does have some interesting points less emphasized in other books about the financial cri ...more
Dan Spradlin
May 16, 2013 Dan Spradlin rated it really liked it
There were things I liked about this book and things I did not like. I thought it had some good technical explanations with market theory and hypothesized links in currency and markets and deficits and so on. I thought this was interesting.

What I didn't like was a lot of unsupported statements where the author would state something about someone's criticism of why markets shouldn't be regulated for example and he would then say "That is a ridiculous statement" and then go on to cite reasons he t
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SVEN
Mar 05, 2016 SVEN is currently reading it  ·  review of another edition
Summer 2011 with the dollar in the jaws of Republican utopians, the euro at the cross rounds of a poker all-in or fold, the afternath of the CDS debackle and the massive government bailouts risk to make all our daily worries trivial. This book makes the origins of the cuurent crisis more tangible and carries hope and warning in it's historical perspective, at least it does so far, crossing my fingers that all will end well..
Effendy Yahaya
Jan 23, 2015 Effendy Yahaya rated it it was amazing
It is a very good book as my journey in 2015 has started in an overview of both economics and finance. The findings from various sources of both finance and economics had brought to a level of broad assessment that come to this piece of book. From a world complexities from macro and micro economics, to banking, investment, insurances and to the more on how practical it is that makes more sense in current world. Details gathered by Roubini and Stephen deliberately that makes interest to another a ...more
Zhuu Ming
Feb 15, 2015 Zhuu Ming rated it it was ok
Shelves: economics
Despite the book cover description, can't say I learned much about how Roubini foretold the GFC, other than (ex-post) comparisons with prior crises. Policy suggestions are unsurprising, but that's probably because the book was written in 2010?
M.R. Raghu
Feb 03, 2016 M.R. Raghu rated it it was amazing  ·  review of another edition
A great book that lucidly explains economic concepts in its most practical form. Any keen student of economics should read this book to get a connect between theory and practice. One of my best books, for sure!
Adem
Feb 05, 2014 Adem rated it really liked it
A brief description of the flaws that has existed in our modern financial system.
The book avoids obscure terminology and explains the complex cause-and-effect relations with regards to economics in fairly simple language.
Ayan Dutta
Aug 02, 2015 Ayan Dutta rated it it was amazing  ·  review of another edition
The book is rather technical for a non-economics background reader . Having said that, the authors make a great effort to be lucid and not loose rigour at the same time.

Deserves a second read .
Jon
Mar 05, 2014 Jon rated it it was ok
i wasn't really a big fan, really just talked about the 2008 crisis etc and what led to it, and conflicts of interest etc.
Void lon iXaarii
Feb 11, 2011 Void lon iXaarii rated it liked it
While I have some serious skepticism of the solutions proposed by the authors and their recipe for identifying problems (hindsight is always 20-20) I warmly recommend this book as simply a greatly researched and VERY well told story of the recent economics crisis with bonus goodies from all across history. But especially with relation to the recent one it's super mega fantastic: it goes into very smart details and touches on many interesting points. At one point I remember I was sooooo hoooked o ...more
Intensebanker
Mar 18, 2015 Intensebanker rated it really liked it
Insightful analysis.
I'm afraid, though, that the 'good crisis' HAS gone to waste...
Mike Gibbs
Jun 01, 2012 Mike Gibbs rated it really liked it
Shelves: economics
This is a great book to read for some insight into some of the causes of the recent economic problems the world is facing. I can't say that I agree with all of Roubini's suggestions for solutions, but his analysis of the events of the crises are spot-on (part of the reason why he was documented predicting the housing bubble's pop two years before it happened). Roubini has the evidence to back up his claims to be able to look into the future and make surprisingly accurate predictions, so it would ...more
Daniel
Jan 30, 2012 Daniel rated it really liked it
Solid, well researched summary of the most recent financial crisis. The authors are careful to avoid a partisan take on the reasons behind the crisis and stick to what they see as the facts. After reading it, it further reinforced my perception that for the most part, economics is not a very rigorous science, if it can be called that. I admire Roubini in that he has managed to stay out of the political fracas that so many other economists have embraced, and instead displays a commitment to disco ...more
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Nouriel Roubini is a Persian American professor of economics at New York University's Stern School of Business and chairman of Roubini Global Economics, an economic consultancy firm.

Roubini's critical economic views have earned him the nicknames "Dr. Doom" and "permabear" in the media. In 2008, Fortune magazine wrote, "In 2005 Roubini said home prices were riding a speculative wave that would soon
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More about Nouriel Roubini...

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