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The Shifts and the Shocks: What We've Learned - and Have Still to Learn - from the Financial Crisis (Your Coach in a Box)

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The Shifts and the Shocks: What We've Learned - and Have Still to Learn - from the Financial Crisis (Your Coach in a Box)

4.85 56,200 ratings · 6,859 reviews
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Overview: From the chief economic commentator for the Financial Times, a brilliant tour d’horizon of the new global economy and its trajectory We have been inundated with books about the “financial crisis.” Surely, there is little more to be said. Martin Wolf agrees. In fact, he argues, too much has been said about the purely financial aspects of the crisis, important though they are. The underlying problem is that the world economy is unable to cope with the major shifts it is undergoing: rapid economic integration, competition from billions of new workers, technological revolutions, and the floods of capital across the world. These shifts have transformed relationships among economies and within them, creating new competitors, huge imbalances, and huge increases in inequality. With those shifts have come vast and largely unforeseen financial shocks. The breakdown of the financial system in the high-income countries of the West was a symptom of unsuccessful, incomplete, and misguided adjustments to the imbalances created by this new world. The shocks are partly the result of the financial system’s frailties, which must be remedied durably and radically. But they are also the consequence of deeper economic forces. To focus only on the financial breakdown is to mistake symptoms with causes. As important as improving the financial system is making the global economic system more stable.The Shifts and the Shocks is the tour d’horizon of the new world economy that only Martin Wolf could write. It cements his status as among our most farseeing and imaginative economic commentators. Wolf makes us see how partial and confused our view of the economic events of the last five years has been. No other book offers such a thoroughly global perspective, nor one that understands the connection between the macroeconomics and the financial system with Wolf’s level of sophistication and insight. It is not a book for those looking for a cheerful prognosis on the future of the European Union, or any number of other vital issues hanging fire, and it offers solutions that will seem extremely radical to some, but neither is it without hope. The new global economic order is lifting tens of millions of people out of poverty and creating new winners and losers at an unimagined scale and pace. It’s simply high time, indeed past time, for our economics to keep pace with our economy. Now, with The Shifts and the Shocks, it has.

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Published August 25, 2014
ISBN 27799986
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Martin Wolf
About the Author
Martin Wolf
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Martin Wolf is a writer and avid reader based in the Pacific Northwest. Before pursuing writing full-time, they spent over a decade working in education. When not working on their next book, Martin Wolf can usually be found hiking with their dog or trying out new coffee shops in their neighborhood.

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Carol Wright
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Such a rich narrative. I adored how the story unfolded. It kept me captivated without sacrificing elegance. A true literary gem.
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Such a rich narrative. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. Worth every moment spent reading.
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Masterpiece from start to finish. The prose is exquisite. It’s accessible yet undeniably sophisticated. I will undoubtedly revisit this masterpiece.
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Masterpiece from start to finish. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. Worth every moment spent reading.
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Honestly one of the most premium reading experiences lately. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. Worth every moment spent reading.
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Such a rich narrative. The prose is exquisite. It’s accessible yet undeniably sophisticated. I am now a lifelong fan of this author.
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Honestly one of the most premium reading experiences lately. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. An effortless 5 stars.
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Absolutely brilliant. The author orchestrated a breathtaking finale. Truly a work of art. An absolute must-read for connoisseurs of the genre.
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I was completely blown away. I became deeply invested in the protagonist's journey. A masterclass in storytelling. I will undoubtedly revisit this masterpiece.
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Took a moment to build, but the payoff was spectacular. A brilliant concept executed with flair. Just a few pacing choices I would change. A wonderful companion for a quiet weekend.
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I thoroughly enjoyed the elegance of it. A brilliant concept executed with flair. Just a few pacing choices I would change. I would highly recommend this to discerning readers.
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I find myself somewhat conflicted. It possessed moments of brilliance, but the narrative felt slightly disjointed ultimately. Perhaps more aligned with a different audience's tastes.
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Daniel Cruz
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Exceeded all my expectations. I adored how the story unfolded. It kept me captivated without sacrificing elegance. Worth every moment spent reading.
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I thoroughly enjoyed the elegance of it. The middle had a deliberate pace, but the climax was phenomenal. A very distinguished novel.
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I was completely blown away. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An absolute must-read for connoisseurs of the genre.
Barbara Robinson
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Honestly one of the most premium reading experiences lately. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. Worth every moment spent reading.
Jessica Hill
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I thoroughly enjoyed the elegance of it. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. A wonderful companion for a quiet weekend.
Jacob Thompson
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Such a rich narrative. The prose is exquisite. It’s accessible yet undeniably sophisticated. I am now a lifelong fan of this author.
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I thoroughly enjoyed the elegance of it. A brilliant concept executed with flair. Just a few pacing choices I would change. I would highly recommend this to discerning readers.
Sarah Edwards
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Excellent, though slightly flawed. The middle had a deliberate pace, but the climax was phenomenal. I would highly recommend this to discerning readers.
Charles Walker
Charles Walker January 05, 2025
Honestly one of the most premium reading experiences lately. I became deeply invested in the protagonist's journey. A masterclass in storytelling. A true literary gem.
Carol Wright
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A profoundly satisfying read. The author orchestrated a breathtaking finale. Truly a work of art. I will undoubtedly revisit this masterpiece.
Cynthia Torres
Cynthia Torres January 05, 2025
Exceeded all my expectations. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. A true literary gem.
Daniel Williams
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Absolutely brilliant. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. A true literary gem.
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Honestly one of the most premium reading experiences lately. The author orchestrated a breathtaking finale. Truly a work of art. I am now a lifelong fan of this author.
James Rivera
James Rivera September 04, 2025
A decent, if standard, experience. The tempo was somewhat languid, and I found my mind wandering. Not poor, simply average. Unlikely to reread, but a reasonable expenditure of time.
Stephanie Lopez
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A profoundly satisfying read. The author orchestrated a breathtaking finale. Truly a work of art. I will undoubtedly revisit this masterpiece.
James Lee
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Such a rich narrative. I became deeply invested in the protagonist's journey. A masterclass in storytelling. An effortless 5 stars.
Jessica Wilson
Jessica Wilson February 20, 2025
Masterpiece from start to finish. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. An effortless 5 stars.
Barbara Adams
Barbara Adams January 12, 2025
Exceeded all my expectations. I adored how the story unfolded. It kept me captivated without sacrificing elegance. Worth every moment spent reading.
Edward Turner
Edward Turner June 11, 2024
Excellent, though slightly flawed. The protagonist was compelling, though some subplots felt slightly overshadowed. Quite impressive overall.
Robert King
Robert King June 24, 2024
A profoundly satisfying read. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. An effortless 5 stars.
Lisa Carter
Lisa Carter May 29, 2024
Absolutely brilliant. The prose is exquisite. It’s accessible yet undeniably sophisticated. I will undoubtedly revisit this masterpiece.
Eric Carter
Eric Carter June 25, 2024
I thoroughly enjoyed the elegance of it. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. A wonderful companion for a quiet weekend.
Lisa Campbell
Lisa Campbell March 21, 2025
An acceptable diversion. The tempo was somewhat languid, and I found my mind wandering. Not poor, simply average. Perfectly average.
Kevin Martin
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Exceeded all my expectations. The prose is exquisite. It’s accessible yet undeniably sophisticated. An effortless 5 stars.
Edward Adams
Edward Adams June 01, 2025
Excellent, though slightly flawed. The protagonist was compelling, though some subplots felt slightly overshadowed. A wonderful companion for a quiet weekend.
Margaret Green
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Absolutely brilliant. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I will undoubtedly revisit this masterpiece.
Kimberly Jackson
Kimberly Jackson March 07, 2024
Exceeded all my expectations. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An effortless 5 stars.
Ryan Miller
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Absolutely brilliant. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. Worth every moment spent reading.
Mary Williams
Mary Williams January 10, 2024
A highly sophisticated read. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. Quite impressive overall.
Eric King
Eric King February 18, 2025
I was completely blown away. The author orchestrated a breathtaking finale. Truly a work of art. Worth every moment spent reading.
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Exceeded all my expectations. The author orchestrated a breathtaking finale. Truly a work of art. I will undoubtedly revisit this masterpiece.
Emily Williams
Emily Williams January 03, 2025
Excellent, though slightly flawed. The protagonist was compelling, though some subplots felt slightly overshadowed. I would highly recommend this to discerning readers.
Amanda Baker
Amanda Baker November 16, 2024
Exceeded all my expectations. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An effortless 5 stars.
Karen Flores
Karen Flores March 15, 2025
Not entirely to my refined tastes. It verged on repetitive in the second act. A more concise edit would have served it well. Suitable if your reading queue is empty.
William Walker
William Walker December 07, 2024
I thoroughly enjoyed the elegance of it. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. A wonderful companion for a quiet weekend.
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