In: Economics
How does the book, "The Shifts and Shocks" have to do with the relevance for our understanding of our Economy today?
Answer) The shifts and shocks,written by Martin wolf,economic commentator,it deals with why and what we can learn from the financial crisis of 2007-08.Book deals with how the shocks created crisis in Europe and at same time it benefitted developing economies particularly China and in process shifting the focus of economic progress.If we look at economy today,the idea in the book that political support and cheerleading the economy while suppressing the clear voices of rational dissent is still prevalent,questions are seen as cynical way to create negativity and questions in sustainibility of growth is seen as something of a party pooper,in today s economy too vulnerable are being sold products which they have no knowledge of,at times there is no check on validity of what is happening,crisis happens because we don't learn from the previous ones,message from book in today s times for economy is clear,we should celebrate growth but at the same time we need to keep an eye on red flags,we need to act before its too late and difficult to save economy.
Answer is complete.Thank you!