Raghuram Rajan was one of the few economists who warned of the global financial crisis before it hit. In Fault Lines, he argues that serious flaws in the economy are to blame and warns that a potentially more devastating crisis awaits us if they aren’t fixed. He also traces the deepening fault lines in a world overly dependent on the indebted American consumer to power global economic growth and stave off global downturns. He then outlines the hard choices we need to make to ensure a more stable world economy and restore lasting prosperity.
Fault Lines: How Hidden Fractures Still Threaten the World Economy
(Princeton University Press, 2010)
Featuring the author Raghuram Rajan, Professor of Finance, University of Chicago, and former Chief Economist, International Monetary Fund; with comments by Jon Hilsenrath, Chief Economics Correspondent, Wall Street Journal; and Carmen Reinhart, Professor of Economics, University of Maryland, and Co-author, This Time Is Different. Moderated by Ian Vásquez, Director, Center for Global Liberty and Prosperity, Cato Institute.