Sudden Stop: How the Great Financial Crisis changed the world
History of the Financial Crisis, Coming 2018
As the twenty-first century began, the Cold War coalition led by America dominated the world. Its preponderance in terms of both hard and soft power was awesome. Could it last? From 2002 the wars in Iraq and Afghanistan proved to be a quagmire. The financial imbalance with China has loomed ever larger. Many predicted a catastrophic dollar sell off. But no one anticipated the crisis that actually swept first across the US and then Europe after 2008. This was driven by a meltdown of the core of the financial system. In its wake came geopolitical crises along the entire rim of Europe from Tunisia to Crimea. Not only that, but the political systems of the EU and the United States, suffered a loss of legitimacy not seen since the Vietnam war, 1968 and the upheavals of the 1970s. Indeed, many commentators detect echoes of the even more serious crisis of the 1930s. Economists, journalists and political scientists have all contributed enormously to our understanding of these multiple crises. Sudden Stop will be the first major effort by a historian to gauge the scale of the upheavals in the last decade.
Sudden Stop, which is due to appear in 2018 for the occasion of the tenth anniversary of Lehman, is currently under contact to appear in the US (Viking), UK (Penguin), Germany (Siedler), France (Les Belles Lettres) and the Netherlands.