ISMAIL LAGARDIEN: The latest banking crisis: back to the future of liberal capitalism
The underlying reason for the SVB crisis is that global capitalism has not fully recovered since 2008
There are a few books on a shelf here, in the shipping container I call home, that deal with crises in capitalism; banking, currency and financial crises; and the political-economic (social) impact of these disruptions. For what it’s worth, everything I know about the world I learnt from books. This means I can’t claim much originality in thought and word.
Nonetheless, with the help of some imagination a few book titles that have stared back at me since the collapse of Silicon Valley Bank (SVB) on March 10 flow almost prosaically: Firefighting: The Financial Crisis and its Lessons; Fault Lines: How Hidden Fractures Still Threaten the World Economy; Hall of Mirrors; The Great Depression, the Great Recession, and the Uses — and Misuses — of History; Crashed: How a Decade of Financial Crises Changed the World, and one that’s a doozy: This Time is Different: Eight Centuries of Financial Folly...
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