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Crisis Economics: A Crash Course in the Future of Finance

3.83  ·  Rating details ·  2,568 ratings  ·  119 reviews
Crisis Economics: A Crash Course in the Future of Finance
Hardcover, 368 pages
Published May 11th 2010 by Penguin Press (first published May 1st 2010)
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Shua
Aug 08, 2012 rated it really 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
...more
Han C.
Nov 28, 2010 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
Oct 08, 2012 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 ...more
Zohar - ManOfLaBook.com
Oct 29, 2015 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
...more
Owen
Jul 05, 2011 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 ...more
Zhuu Ming
Feb 15, 2015 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 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!
Ayan Dutta
Jul 31, 2015 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 .
Marcus
May 30, 2010 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 ...more
Aderyn
Apr 16, 2015 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 ...more
Dan Spradlin
Aug 09, 2012 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
...more
Barry
Apr 27, 2012 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
Jan 21, 2013 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
...more
Fernando
Mar 06, 2018 rated it really liked it
A self-proclaimed centrist take on the recent economic crash of 2006-09. He makes the point that most crises have common inputs, contrary to the popular narrative that most are unique.
He paints a bleak picture.
The first 2/3 I found very interesting when I could understand. It gets a bit technical at times but he is a skilled story teller for most of it.
The tail end spoke to some possible reforms that could be made to avoid a more damaging crisis in the future. These solutions ranged from the
...more
Noah Stacy
Sep 07, 2010 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
...more
Lychee
Oct 07, 2010 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 ...more
John Hibbs
Jan 14, 2011 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.
Effendy Yahaya
Jan 07, 2015 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 ...more
SVEN
Mar 05, 2016 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..
Matt Cooper
May 05, 2012 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 rated it really liked it
Shelves: economics
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!
nemozny
Sep 03, 2017 rated it it was amazing
Best overview and deep insight into crisis mechanics. Unbiased(!) mind you, unlike most other books. Hard to read but well worth it. 10 stars out of 5.
Dude-von Dudenstein
May 25, 2015 rated it really liked it
Shelves: finance, economics
a great explanation of some of the key economic concepts. Author gets a bit carried away with the solutions approach and I don't think any of them are feasible without heavy regulation.
Intensebanker
Mar 18, 2015 rated it really liked it
Insightful analysis.
I'm afraid, though, that the 'good crisis' HAS gone to waste...
Bradley Dowell
May 23, 2018 rated it it was ok
An interesting look at the history of economics recessions and the business cycle. Roubini provides exciting engagement with various economic crashes as old as the Tulip Mania of the 1630s and 'contemporary' crashes to reveal trends which can be used to understand the 2008 global financial crisis. Roubini's 'Perfect Storm' concussion for the GFC provides a useful overlook at the various mechanics/causes leading up to the crisis.

The question should be asked if Roubini's book should still be read?
...more
Sarah
Sep 17, 2019 rated it really liked it
Roubini and Mihm's work may give pause to any believer in unregulated financial markets. In Crisis Economics, they recap patterns in capitalist financial market crashes over time, refuting the idea that 2009's housing crash and the ensuing recession were unpredictable, unforeseeable, and unique. Complex concepts, including brainchildren of "financial innovation" are explained in clear terms, though the breadth of terminology may seem daunting to the uninitiated. (For me, limited familiarity with ...more
Hudson Hoyle
Dec 20, 2019 rated it really liked it
Read for Tequila Mockingbird book club. Overall insightful and useful context on the repetition of events throughout history surrounding financial crises. Strongest takeaways were:

1.) The themes of over-leveraged companies, over-extension of credit, misaligned agency / principle incentives, and overstated value of underlying assets which creates bubbles that often lead to crises time and time again - Tulip bubble in Netherlands in 1693, great crash in 1800s with railroad boom, tech bubble in
...more
Brice Karickhoff
Oct 04, 2019 rated it really liked it
Super Keynesian. Not neo-classical. Dont let this be the only economic book you read and then go around talking about economics like you know. But it is a really fair discussion of how an economic crisis occurs. Like a technical footnotes of the Big Short.
Mark Robertson
Jun 13, 2018 rated it liked it
Helps put the crisis in historical context, maybe a little too early.
Razvan Coca
Nov 19, 2016 rated it it was amazing
I have to reread the data-rich chapters
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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
...more