Fault Lines: How Hidden Fractures Still Threaten the World Economy by Raghuram G. Rajan
My rating: 5 of 5 stars
TLDR; If you want to understand the '08 crisis without getting bogged down in jargon, this is the book to go. Also, Dr. Rajan makes perceptive observations about India and it's politics, governance, and social security.
This book aims to narrate the various factors that contributed to the global economic crisis of '08. he writing is lucid, clear and flows smoothly. Dr. Rajan explains Sub prime mortgage crisis very well, and is clear cut in his reasoning as to why the Government intervening (or not) was bad. He doesn't paint anything to be a panacea, and doesn't bat too much against the bankers, and not for too much regulation either. Her repeatedly makes it clear that there was a lot of things going wrong, and makes very interesting commentary on the social implications of the crisis, and the solutions that tried to correct the effects of the crisis.
Rajan also takes a dig at the idea that everyone is born equal. He also makes convincing arguments for better social security net, improving the school system, and for affirmative action.
In this Indian edition, there is also a commentary on what India should do, post crisis. He makes a lot of perceptive observations, and this chapter alone makes the book worth reading.
View all my reviews