: A central paradox in the book is that while the Federal Reserve successfully stabilized the world through unprecedented interventions (like dollar swap lines), these technocratic actions bypassed democratic oversight. Tooze links this "saving the economy at the cost of politics" to later events like Brexit , the rise of Donald Trump , and the Eurozone debt crises .
Book details ... From a prizewinning economic historian, an eye-opening reinterpretation of the 2008 economic crisis (and its ten- Amazon.com Crashed: How a Decade of Financial Crises Changed the World Crashed: How a Decade of Financial Crises Chang...
: Tooze describes how crisis management adopted a wartime mentality, justifying massive bailouts and interventions that normalized inequality and permanent austerity for many while protecting the "financial resilience" of a few. Crashed: How a Decade of Financial Crises Changed the World : A central paradox in the book is