In this myth-busting book Nouriel Roubini shows that everything we think about economics is wrong. Financial crises are not unpredictable 'black swans', but an inherent part of capitalism. Only by remaking our financial systems to acknowledge this, can we get out of the mess we're in.
Will there be another recession, and if so what shape? When will the next bubble occur? What can we do about it? Here Roubini gives the answers, and lists his commandments for the future.
Nouriel Roubini has served as a senior adviser to the White House Council of Economic Advisers and the US Treasury Department and consultant to the World Bank and IMF. As early as 2005, Roubini speculated that house prices would soon sink the economy and in 2006, warned the IMF that the United States was likely to face a catastrophic housing bust resulting in deep recession. Back then he was nicknamed 'Dr Doom' by the New York Times. In hindsight, economists have called him a prophet. Roubini is professor of economics at the Stern School of Business, New York University and co-founder and chairman of RGE Monitor, a web-based economic consultancy firm. He speaks English, Farsi, Italian and Hebrew.