© 2017

The Global Financial Crisis in Retrospect

Evolution, Resolution, and Lessons for Prevention


Table of contents

About this book


This book provides a uniquely comprehensive explanation of the 2008-2009 global financial crisis and resulting scholarly research in the context of building an agenda for reform. With the clarity provided by almost a decade of hindsight and a careful eye toward planning for prevention, Elson guides readers through both historical fact and scholarly interpretation, highlighting areas where careful critique of and changes in the international financial architecture and the mainstream macroeconomic paradigm can promote greater financial stability in the future. Given the great public concern over growing income and wealth inequality, the book examines their links to the increased financialization of the economy, both prior to and since the crisis. Finally, the book identifies a number of lessons that need to be recognized if adequate and effective reforms are to be introduced to avoid a financial crisis of similar magnitude in the future. 

Comprehensive enough for university students and sufficiently innovative for financial policymakers, this book will appeal to a wide range of readers interested in understanding not just where the crisis has brought us, but what key economists have said about it and how we can strengthen our financial system oversight to deal with the continuing challenges of globalization.


crisis economics finance financial architecture financial crisis financial history global financial crisis history income inequality macroeconomics management monetary policy research science and technology stability

Authors and affiliations

  1. 1.Chevy ChaseUSA

About the authors

Anthony Elson is an international economist, writer, and university lecturer in the Washington, DC, area. For a number of years, he was a senior staff member of the International Monetary Fund and consultant with the World Bank. He has also taught at the Duke Center for International Development, the Paul H. Nitze School for Advanced International Studies at Johns Hopkins University, and Yale University.

Bibliographic information

Industry Sectors
Finance, Business & Banking


“Elson … offers a study of the aforementioned crisis, which was triggered by the subprime mortgage market. … the book ably reflects a technocrat’s vision of progressively integrated international financial systems and governance. … A thorough, authoritative postmortem, highly recommended for professional economists, scholars, and university students.” (Kirkus Reviews,, March, 2017)