"When the economic crisis erupted in 2008-9, Brown, like Churchill in 1940, was the right man in the right place at the right time. He'd had 10 years as chancellor of the exchequer. He'd read widely and thought deeply about economics, finance, globalization. He was the one national leader who came to the crisis with a plan and the authority to push it through...This is his story of how he did it, told soberly, clearly, compellingly. It is not a defence of his premiership, but his personal account of a heroic moment in it. He does not claim credit for "saving the world", but lets the story speak for itself, and praises the contribution of his own team and the other world leaders. It is an interrupted story, because he did not survive long enough politically to finish the job. Since he left the scene efforts to co-ordinate recovery policies have fallen to pieces. This is the measure of his achievement – and the hole that his departure left." Robert Skidelsky, The Guardian
Beyond the Crash: Overcoming the First Crisis of Globalizationby Gordon Brown
The crisis exposed the contradiction of globalization itself: as economies have become more interconnected, regulators and governments have failed to keep pace and increase coordination. It is a failure intrinsic to unregulated global markets, an instability that resulted from the manner in which increasing flows of capital around the world happened and… See more details below
The crisis exposed the contradiction of globalization itself: as economies have become more interconnected, regulators and governments have failed to keep pace and increase coordination. It is a failure intrinsic to unregulated global markets, an instability that resulted from the manner in which increasing flows of capital around the world happened and impacted the economy. And it is a failure of collective action at an international level to respond quickly enough to the structural imbalances and inequities that arose.
At its simplest, then, this is the first true crisis of globalization. For the first time everybody, from the richest person in the richest city to the poorest person in the poorest slum, was affected by the same crisis. Although its roots are global, its impact is local, directly felt on nearly every main street, on nearly every shop floor, around nearly every kitchen table.
Billions of people around the world are in need of and are demanding a better globalization. It is the nature of power that you always leave tasks unfinished when you leave office. It is the nature of politics that the argument must continue. This book is my warning of a decade of lost growth and my answer to that fear with a call for a better globalization. It is an explanation of a pattern in the numbers that points to an enormous opportunity to alleviate poverty, create jobs, and grow. A future of low growth, high unemployment, decline, and decay is not inevitable; it's about the change we choose.
The Washington Post
- Free Press
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