2008, ISBN: 9780071634786

Total Systems Failure: The Global Financial Breakdown and How to Repair It 2008 will go down in history as the year the U.S. financial system plunged over the cliff--and pulled the global… Mehr…

Total Systems Failure: The Global Financial Breakdown and How to Repair It 2008 will go down in history as the year the U.S. financial system plunged over the cliff--and pulled the global economy along with it. Nevertheless, says "Financial Times" editor Wolfgang Munchau, this is not an American problem requiring an American solution. The meltdown was caused by inherent defects in the global economy. It is the world's problem, and it will take international action to fix it. An updated edition of "Verboben," Munchau's award-winning book published in Germany in 2008, "The Meltdown Years" provides a solid foundation in the structure and workings of the global economy and presents a broad view of the financial crisis. Munchau focuses on three main questions: What were the key events that led to the global financial bubble? How did the meltdown start and why did it spread? What needs to be done to repair the economy and to avoid future setbacks? Munchau puts the pieces of the puzzle together to form a remarkably clear picture of an extraordinarily complex subject--while providing actionable advice for creating a more durable financial order. Media >, [PU: McGraw Hill]<