This book is written for a wide range of readers. The author talks about economic phenomena with a touch of irony. But also, he leaves enough space for the reader to make his own conclusions.
This issue applies to absolutely everyone! The consequence of the economic crisis is a reduction in production, massive bankruptcy, unemployment, a decline in the standard of living of the people. The economic crisis is a phenomenon of our time. Before the industrial revolution of the late 18th century, there were no regularly recurring booms and depressions. These cycles occur around the same time as modern industry. Economists regularly come up with explanations for the emerging crises, but nobody could predict exactly.
Still fresh memories of the recent World Financial Crisis 2008-2015 named “The Great Recession”. The middle class suffered from this crisis most of all, while before the crisis its share in the total amount of world wealth remained stable for a long time. At the same time, the share of 1% of the richest people in the world volume of wealth exceeded 50% and continues to increase. Unprecedented growth in unemployment led to the achievement of its record in the history of labor market surveillance. In 2009, 199 million people were officially considered unemployed.
The main problem in the overgrowth of the moderate crisis to the global economic shock is that it destroys the economic and political mechanisms that are designed to eliminate it. It will happen again. But, the author is sure that everyone can help themselves.
The author tries to answer a number of questions that worry many people:
What are the causes of the crises?
What happens to the economy now?
When will the next crisis happen?
Why does the middle class disappear?
Why do the rich get richer in a crisis?
How will this affect each of us?
Who is guilty?
Who is responsible for this?
And the most important: How not to become a victim of the crisis?