In this wise and thoughtful analysis of the global financial crisis, Padma Desai, who teaches at the Columbia University, makes the complexities of economic policy and reform accessible to a wide audience. Merging a compelling narrative with scholarly research, she begins with a systematic breakdown of the factors leading to America s recent recession, describing the monetary policy, tax practices, sub-prime mortgage scandals and lax regulation that contributed to the crisis, and frankly assesses whether the US economy is truly on the mend. Expanding her view, she considers the prospects for recovery in North America as a whole, as well as in Europe, Asia, and South America, and the extent and value of US and EU regulatory proposals. She concludes with a historical comparison of the Great Depression and the Great Recession, weighing the effect of the economic collapse on the future of American capitalism.

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