Eric Helleiner convincingly demonstrates that formal international institutions were largely irrelevant in the 2008 global financial crisis. Instead, central banks, and especially the US FED, shaped responses in favor of a status quo outcome for banking interests.
Herman Schwartz, Professor of Politics, The University of Virginia
The Status Quo Crisis is the first book to show how the ... Read moreglobal policy response to the first truly global financial crash since the 1930s leaves the world vulnerable to more. It should be required reading for those keen to ensure that people and capitalism are not subject to a repeat performance for a long time to come. The last chapter describes four 'what next?' scenarios, one of which has the virtue of being optimistic.
Robert H. Wade, Professor of Political Economy and Development, The London School of Economics and Political Science
Another outstanding book from one of the stars of the field of International Political Economy -an analysis that is at once informed, articulate, and remarkably insightful. Eric Helleiner's ability to distill and explain major historical events is uncanny.
Benjamin J. Cohen, Louis G. Lancaster Professor of International Political Economy, University of California, Santa Barbara
For his expertise in international monetary and financial policy, and his ability to write about such subjects cogently and insightfully, Eric Helleiner is unsurpassed. This immensely important book provides a sobering analysis of how little has been done since the global financial crisis to change the workings and regulation of the world economy and financial markets.
Paul Blustein, Brookings Institution
Few people other than Eric Helleiner have the authority to take stock on the state of global economic governance after the financial crisis of 2008. In a book that is masterfully rigorous but broadly accessible, Helleiner shows that the same system of global economic governance that failed to prevent the crisis of 2008 also failed to manage the so-called recovery. Worse still, while there have been pockets of reform that deserve merit, Helleiner demonstrates that little has been done to reform the system so as to prevent the next crisis. Not only does Helleiner confirm this lack of significant change-or the maintenance of the 'status quo'-he gives insight as to how/why significant change failed to come about. This book should be required reading for scholars of politics and economics and for policy-makers across the globe. There is still much work to be done.
Kevin P. Gallagher, co-director, Global Economic Governance Initiative, F.S. Pardee School of Global Studies, Boston University
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