Fault Lines - by Raghuram G Rajan (Paperback)

Raghuram Rajan's Fault Lines is a must-read for anyone concerned about the state of the global economy.

In this groundbreaking book, Rajan argues that the 2008 financial crisis was not just the result of greedy bankers taking irrational risks, but rather a symptom of deeper flaws in the economy.

He shows how individual choices made by bankers, government officials, and ordinary homeowners were rational responses to a broken global financial order that rewards risk-taking at the expense of stability. Rajan traces the fault lines in a world overly dependent on the indebted American consumer to power economic growth and stave off downturns.

He exposes how America's growing inequality and thin social safety net create political pressure to encourage easy credit, despite the consequences for the economy's long-term health.

The U.S.

financial sector, with its skewed incentives, is the critical but unstable link between an overstimulated America and an underconsuming world. Moreover, Rajan highlights how unequal access to education and health care in the United States puts us all at risk of financial peril.

He argues that countries like Germany, Japan, and China place an undue burden on America to get its policies right.

In Fault Lines, Rajan provides a comprehensive and compelling analysis of the global economy's deepest problems and offers practical solutions for preventing another crisis.

Don't miss out on this essential read for anyone interested in understanding the state of the world economy today.