The Shift and the Shocks: What We've Learned--and Have Still to Learn--from the Financial Crisis

Martin Wolf, chief economics commentator for the Financial Times, presented his new book, The Shift and the Shocks: What We've Learned—and Have Still to Learn—from the Financial Crisis, on October 9, 2014, at the Peterson Institute for International Economics. Athanasios Orphanides, professor of the Practice of Global Economics and Management at the MIT Sloan School of Management and former governor of the Central Bank of Cyprus, and Kevin Warsh, distinguished visiting fellow at Stanford University's Hoover Institution and former member of the Board of Governors of the Federal Reserve System, provided commentary on Wolf's argument.

The Shift and the Shocks provides an in-depth analysis of the causes of the financial crisis, which Wolf attributes to a complicated relationship between ongoing globalization, tremendously destabilizing global imbalances, and a precarious financial system. He explains what he considers to be erroneous beliefs that shaped monetary and financial policy and proposes radical reforms to be implemented in order to prevent future financial crises.

Event Materials

Presentations: Martin Wolf [pdf] | Athanasios Orphanides [pdf]