The Great Crashes: Lessons from Global Meltdowns and How to Prevent Them

by Linda Yueh

Since America's Wall Street Crash of 1929, the global economy has weathered the most tumultuous century in financial history. From the currency crises of the 1980s, to Japan's housing meltdown, the dot com boom and bust, the global financial crash and the COVID pandemic, crash after crash have sent shockwaves through our world.The Great Crashes tells the stories of ten of these historic financial events. They serve as a series of cautionary tales, each with their own set of lessons to be learnt. With clear-eyed analysis, renowned-economist Professor Linda Yueh uses these meltdowns to extract a critical three step framework to help recognise the early signs of a crash, mitigate the effects and even prevent them in the future. There is very little that is certain in economics, except for there will be another financial crisis. Yueh exclusively predicts the next and shows how her framework could contain it. Combining her in-depth knowledge with her compelling storytelling, The Great Crashes is essential reading that offers urgent lessons for the modern world.

Genres: Economics, History, Nonfiction, Business, Finance, Audiobook

256 pages, Paperback

Published April 15, 2024

About the author

Linda Yueh is a Fellow in Economics at St Edmund Hall, Oxford University, Adjunct Professor of Economics at London Business School, Visiting Senior Fellow at the London School of Economics, and was Visiting Professor of Economics at Peking University. The former Economics Editor at Bloomberg TV, she also hosted Talking Business with Linda Yueh as Chief Business Correspondent for BBC News. She writes for The Times, The New York Times and The Financial Times and has advised, among others, The World Bank and World Economic Forum in Davos.

Reviews

[Paul · Rating 4 out of 5]

Shoutout to Abhishek Kumar from International Banking MANG 10109 for helping me understand the contents of this book easily.

[Zhi Yi · Rating 2 out of 5]

The content of this book sounds very official, like something you might find from the major news company or financial programme. Huge contrast especially after reading Jim Rickard's "Road to Ruin".

[Andrea Wenger · Rating 5 out of 5]

Analyzing ten historic financial crises, from the 1929 Wall Street Crash to the COVID-19 pandemic, this book provides a three-step framework to identify, mitigate, and potentially prevent future economic collapses.

This is an interesting, informative, and eye-opening look at the financial crises over the past century. It filled in a lot of gaps for me and showed how we’re constantly learning and getting better at handling these crises as they occur. But it also stresses that boom is always followed by bust, and the euphoric optimism that drives economic bubbles seems to be part of the human condition.

Thanks, NetGalley, for the ARC I received. This is my honest and voluntary review.

[Christina · Rating 4 out of 5]

An accessible economic history of the great crashes and some of the macro trends running across all of them. The final two chapters, for better or worse show the futility of economic prediction — which Linda herself admitted to me when I met her two years ago. Overall, definitely worth a read in the context of current economic turbulence.

[Tom Barter · Rating 3 out of 5]

Probably a bit too much for me. Some good pointers and has added to my knowledge, but I found it heavy going

[Farid Hazwan · Rating 5 out of 5]

euphoria + credibility = aftermath.

it took me a while to finish this one. but it's definitely worth reading. the content is quite heavy if you don't have econs/finance background.

[Andréa]

Note: I received a digital review copy of this book from the publisher through NetGalley.

[Bắc Song · Rating 5 out of 5]

sách mang tính thu thập, phân tích case study hay quy mô quốc gia và trình bày tương đối khách quan

[Sofia Riccaboni · Rating 5 out of 5]

IL nuovo libro di Linda Yueh é quasi allarmantemente tempestivo, come se lei stesse facendo un tanking dell’economia globale come la madre di tutte le trovate di guerrilla marketing.

[Archer · Rating 5 out of 5]

A fantastic introduction to financial and economic crises. Linda Yueh establishes a memorable and easy to use organising framework (euphoria, credibility and aftermath) for understanding the causes and consequences of crises and the advantages and disadvantages of different policy responses. A great source of anecdotes for teachers, and maybe a good starting point for journalists, policymakers and researchers.