202:
overcome will threaten a decade or more of low growth, with millions left jobless and millions more in poverty. Brown recalls that in the last years of the 20th century, Europe and the United States had between them a majority share of the world's production, exports and investment. After 2000, Europe and
America had minority shares in all those areas, while still retaining a large majority of the world's consumption, financed by borrowing from the rest of the world. Brown states that this recently developed situation has become unsustainable. He says it's essential for emerging economic giants like China to boost their consumption further if global growth is to be optimised and the crises is to be fully overcome. The introduction also discusses the need for morality to inform the conduct of market participants.
493:
world from a global depression, saying the effect of the package agreed at that summit were "marginal and transitory." Oborne criticises Brown's "pathetic" handling of his economic mistakes made during the 11 years leading up to the crisis. He also criticises the way Brown seems to praise his colleagues according to whether or not he likes them. Oborne says the book is a difficult read: jargon-laden, repetitive and marred by overly long sentences. He ends by saying that there is something moving about the book, that despite the poor writing and self-delusion, Brown's moral integrity and genuine desire to do good shine through. Reviews by
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domestic goals and to boost global growth as a whole. He argues that monetary policy and keeping deficits low "will not be sufficient to keep unemployment down" and that deficit reduction will be "linked to the speed of economic recovery" (pp 225â6). He points out that it is not possible for every country to solve the global problem by exporting (p229) and that prosperity, to be sustained, has to be shared (p231).
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commented that "most fair-minded observers would concede that Brown's reaction to the events that followed the collapse of Lehman
Brothers was his finest hour" and goes on to praise Brown's global leadership in this period. He suggests though that Brown was wrong to claim the London G20 had saved the
478:
focuses mainly on the book itself rather than the macroeconomic issues, saying that the work contains "fascinating insights" into the working of global governments as well as a few engaging incidents that shed light on Brown's home life. She says it would have been better if Brown had spent more time
393:
Chapter 10 is about Africa, which Brown says was much harder hit by the crises than was Asia or Latin
America. Brown says the continent has enormous potential and can become a new engine of growth for the whole world. He advises that help from G20 countries will be needed, both to boost investment in
357:
Chapter 7 is about the opportunity available to China. Brown advises that with increased switching from policies favouring exports to those aimed at boosting domestic demand, China can contribute to reducing global imbalances, while at the same time sustaining her own high growth and further reducing
157:
fully is with further coordinated global action. Brown states that a shared "global compact" on jobs and growth should be central to effective action, with different regions called on in different ways to contribute to rebalancing the global economy while boosting growth. The book includes first-hand
473:
largely agrees with Brown's themes and rebuts some of the criticism against him. But Lipsey suggests Brown does deserve some of the criticism from the left, who argue he did too little to punish bankers for the crisis and allowed too many of the consequences to fall on ordinary people. Tracey Boles
435:
argues that Brown's position is correct on all counts. Stiglitz notes that the book is focussed firmly on global policies and issuesâin contrast to other political memoirs it contains no political gossip. Stiglitz says that without dwelling on the past, Brown tries to highlight the lessons previous
218:
plan had been announced. In contrast to the global focus found in the rest of the book, the focus here is largely on
Britain and Northern Rock (who issued false figures for mortgage arrears - p24), with some attention to cooperation and dialogue with the US and Europe, especially to Brown's work in
348:
Chapter 6 contains analysis on the United States. Brown sketches the specific challenges facing the US including their high level of net debt and on-going current account deficit. He says
America also has exceptional qualities which can help them overcome their problems if marshalled wisely. Brown
449:
said the package "broke the fall" of the world economy. While mostly in agreement with Brown, Skidelsky writes that his successes in 2008 and 2009 have made Brown overly optimistic about what can be achieved at global summits, and that the road to achieving a "global compact" for jobs and poverty
440:
contends that Brown was the right man in the right place when it came to responding to the crisis, noting that efforts to coordinate economic recovery collapsed once Brown left the international stage. Skidelsky identifies two major acts of global leadership, the recapitalisation of banks and the
402:
Chapter 11 sums up Brown's thoughts on the need for coordinated global action to reduce unemployment and poverty while boosting growth. He says that different regions are called on to act in different ways, but if nations work collaboratively it will help them better achieve both their individual
264:
Chapter 3 is about the current crisis, especially its relation to the banking sector. Brown asserts that the problems in banking sector was excessive and poorly understood risk taking, coupled with inadequate capital. He refers to "industrial scale moneymaking" (p84) and describes the actions of
287:
and the back room diplomacy that was necessary to achieve consensus for the coordinated action unveiled at that meeting. Brown discusses the role of his team in setting the stage to ensure a successful outcome. He also acknowledges the important contributions made by various other international
274:
of "a fundamental flaw in the edifice of market economics" (p90). He goes on to note that the scale of the UK emergency bail-out was 10% of the salaries the bankers paid themselves from 2000 to 2007 (p106) and argued for a global financial levy in return for the "risks the public takes" and the
255:
showed that well executed government intervention can sometimes prevail over hostile markets. He diagnoses that the international community's inadequate response to the 1997 crisis is one of the reasons for the current crises, as it prompted emerging nations to focus excessively on building up
201:
The introduction takes the story in the prologue two weeks forward to 8 October, the day when the bank recapitalisation plan was announced. Brown describes how the crises evolved to become much wider than a banking crisesâit became what he calls the first crises of globalisation, which if not
334:
surpluses like China will be essential but not sufficientâregions like Africa need to be helped so they can become new engines of global growthâand the US and Europe need to ensure their deficit reduction plans are combined with growth friendly policies. Brown discusses an
29:
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accounts of events leading to previous successful cases of international collaboration on economic affairs. There are specific suggestions about the different ways in which the world's nations and regions can help secure global growth, jobs and
509:
magazine also criticise Brown for not recognising his own culpability during the years leading up to the crises. Gray argues that Brown had largely accepted neoliberal economic thinking, leading to his advocacy of light touch regulation for
371:
surplus or deficit. He notes however that internally India's growth has been uneven and that further policies aimed at reducing poverty and inequality in the lagging regions will be important for achieving sustained growth.
366:
Chapter 8 covers India, the rest of Asia, Russia and Latin
America. Brown praises India as a country that has achieved high growth without worsening global imbalances, which she had done by not running either a large
325:
Chapter 5 is a forward looking review of the challenges to be faced after 2010 in delivery global growth and reducing worldwide unemployment. Brown says that all nations and regions will need to act concertedly if
384:
currency union. Brown says it's important for deficit reduction plans to be combined with growth friendly policy and that greater fiscal co-operation and flexibility will be needed to keep the
Eurozone together.
269:
in particular as "unethical financial practices that were, right up to boardroom level, connived at, condoned and rewarded." (p95). He describes as "a stunning act of intellectual honesty" the acknowledgement by
423:. Brown also stresses the need for global cooperation to achieve poverty reduction, a fair distribution of resources and lower unemploymentâgoals which Brown says reflects the values held by the world citizens.
339:
report, which suggested that effective global cooperation in the years leading up to 2014 could reduce global unemployment by as much as 50 million and help lift an additional 90 million people out of poverty.
479:
relating how he felt rather than discussing economic theory. Boles concludes by saying that Brown did help limit the global crisis but also that he was partly responsible for the conditions that caused it.
349:
concludes the US economy needs to become more export orientated and that the government needs to ensure adequate levels of investment, which are unlikely to be delivered by the private sector alone.
219:
persuading them of the need to recapitalise their own banks fearing the threat of a recession (p27). There is a brief mention of Brown's push to gain consensus for a G20 "heads of state" summit.
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s review also notes that while Brown stresses the Market's needs for morals, he doesn't give any practical suggestions on how morality could be encouraged in the financial sector.
358:
domestic poverty. Brown acknowledges that China has now been moving in this direction for several years, but says that further progress will help both China and the wider world.
193:
The
Prologue relates how Brown decided to go ahead with his ground breaking recapitalisation plan for British banks during a transatlantic plane flight on 26 September 2008.
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relates a speech Brown made back in 1998, in the aftermath of the Asian financial crises, discussing the need for enhanced global cooperation on economic issues. The
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reiterates Brown's themes. Brown recaps on the need for the decision making of market participants to be informed by ethical concerns and not purely by the
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to be maintained very much needs to be heard, especially by
European politicians who may be overly influenced by deficit cutting fiscal fundamentalism.
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coordination of fiscal and monetary stimulus, especially the one trillion dollar package announced at the London G-20 Summit. Skidelsky relates how the
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235:. Brown asserts that measures agreed at this meeting were instrumental in preventing the global crisis from escalating into a global depression.
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are to be reduced and the crisis is to be fully overcome. He notes that further policies to boost domestic demand in countries with
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The book is divided into four parts and a total of eleven chapters. There is also a
Prologue, an Introduction and a Conclusion.
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248:. Brown relates lessons from the earlier crisis, such as how the successful response by the Hong Kong authorities to the
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infrastructure and to make sure African countries have access to the markets of developed nations to help boost trade.
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that ended with the defeat of his government. He completed it 14 weeks later while still attending to his work as a
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Part 1 has only one chapter, which tracks the UK government's response to the crises starting from the
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612:"Beyond the Crash: Overcoming the First Crisis of Globalisation by Gordon Brown â review"
724:"Beyond the Crash: Overcoming the First Crisis of Globalisation by Gordon Brown: review"
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166:. Brown suggests that to function at their best, banks and markets need shared morals.
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162:. A secondary theme of the work is that better global oversight is needed for the
696:"Beyond the Crash: Overcoming the First Crisis of Globalisation by Gordon Brown"
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Chapter 9 focuses on Europe and the specific challenges relating to the
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from 2007 until 2010. The work argues that the only way to overcome the
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Brown started writing the book at the end of May 2010, not long after
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Until 2008 the highest G20 meetings were at finance minister level.
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752:"Beyond the Crash: Overcoming the First Crisis of Globalisation"
806:
802:
779:"Oh me, oh my: Why Gordon Brown won't be believed by everyone"
142:
Beyond the Crash: Overcoming the first crisis of globalisation
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275:"implicit support banks enjoy from the government" (p106).
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foreign reserves, thus contributing to global imbalances.
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reduction will be rocky, if it can be travelled at all.
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Part 4 contains just a Conclusion and an Appendix. The
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opines that Brown's message on the continual need for
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214:and ending on 13 October 2008 after Brown's bank
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668:"Beyond the Crash by Gordon Brown â review"
640:"Brown's is a message that we need to hear"
936:Post neoclassical endogenous growth theory
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27:
20:
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610:Skidelsky, Robert (12 December 2010).
7:
845:Prime Minister of the United Kingdom
638:Brittan, Samuel (21 December 2010).
151:Prime Minister of the United Kingdom
899:Sale of UK gold reserves, 1999â2002
212:Sept 2007 bank run on Northern Rock
722:Oborne, Peter (12 December 2010).
694:Boles, Tracey (12 December 2010).
666:Lipsey, David (18 December 2010).
14:
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465:In a mostly positive review for
431:In a positive review, economist
750:Gray, John (29 December 2010).
302:President of the United States
164:international financial system
1:
482:In a mostly critical review,
155:financial crisis of 2007â2010
889:Financial Services Authority
926:We not only saved the world
857:Chancellor of the Exchequer
337:International Monetary Fund
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851:Leader of the Labour Party
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1099:Britain's Everyday Heroes
952:
946:Kirkcaldy and Cowdenbeath
840:
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16:2010 book by Gordon Brown
1301:2010 in economic history
1296:2009 in economic history
1291:2008 in economic history
1286:2007 in economic history
1091:Courage: Eight Portraits
1022:Shadow Cabinet elections
921:2010 Dissolution Honours
1189:The Hunt for Tony Blair
1166:The Trial of Tony Blair
328:Global trade imbalances
310:Prime Minister of India
283:Chapter 4 is about the
244:Chapter 2 is about the
233:2009 G-20 London Summit
1306:2010 non-fiction books
960:
931:Not flash, just Gordon
285:2009 G20 London summit
236:
1321:Books by Gordon Brown
1161:(2001-2004 TV series)
1145:(1984-1996 TV series)
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230:
1107:The Change We Choose
1013:Post-election events
582:(10 December 2010).
547:Simon & Schuster
525:Notes and references
436:events have for us.
175:Member of Parliament
171:the general election
149:, who served as the
131:The Change We Choose
74:Simon & Schuster
884:Five economic tests
729:The Daily Telegraph
645:The Financial Times
589:The Financial Times
489:The Daily Telegraph
456:The Financial Times
294:President of France
23:
1123:My Life, Our Times
1003:(Party leadership)
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787:. 29 December 2010
288:leaders including
253:speculative attack
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145:is a 2010 book by
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916:Electoral history
556:978-0-85720-285-7
246:1997 Asian crisis
160:poverty reduction
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120:978-0-85720-285-7
90:Publication place
22:Beyond the Crash
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1177:(2008 TV series)
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874:BlairâBrown deal
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584:"Crash Course"
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549:. p. xi.
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1197:The Audience
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1134:In the media
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1083:Publications
894:10p tax rate
834:Gordon Brown
789:. Retrieved
782:
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761:. Retrieved
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733:. Retrieved
727:
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705:. Retrieved
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673:The Guardian
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649:. Retrieved
643:
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621:. Retrieved
617:The Guardian
615:
605:
593:. Retrieved
587:
574:
565:
542:
539:Gordon Brown
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515:
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498:
487:
484:Peter Oborne
481:
475:
471:David Lipsey
467:The Guardian
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365:
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347:
324:
298:Barack Obama
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200:
197:Introduction
192:
184:
168:
147:Gordon Brown
141:
140:
139:
129:
40:Gordon Brown
18:
1223:Sarah Brown
1200:(2013 play)
906:Premiership
859:(1997â2007)
853:(2007â2010)
847:(2007â2010)
735:27 December
707:27 December
679:27 December
651:27 December
623:27 December
595:27 December
250:double play
65:Non-fiction
1280:Categories
980:New Labour
443:World Bank
417:Conclusion
398:Chapter 11
389:Chapter 10
1231:(brother)
1205:Coalition
1174:Headcases
1009:(General)
994:Elections
985:Third Way
791:1 January
763:1 January
495:John Gray
427:Reception
376:Chapter 9
362:Chapter 8
353:Chapter 7
344:Chapter 6
321:Chapter 5
279:Chapter 4
260:Chapter 3
240:Chapter 2
70:Publisher
1265:Category
1184:" (2009)
1150:The Deal
975:Brownism
968:Ideology
867:Politics
541:(2010).
512:the City
474:for the
413:Appendix
382:Eurozone
189:Prologue
181:Synopsis
101:Hardback
46:Language
503:and by
54:Subject
49:English
1225:(wife)
1216:Family
1208:(2015)
1192:(2011)
1169:(2007)
1153:(2003)
1126:(2017)
1118:(2010)
1110:(2010)
1102:(2007)
1094:(2007)
553:
407:Part 4
316:Part 3
308:, the
304:; and
300:, the
292:, the
223:Part 2
206:Part 1
133:
36:Author
519:'
106:Pages
62:Genre
1158:2DTV
1074:1996
1069:1995
1064:1994
1059:1993
1054:1992
1049:1991
1044:1990
1039:1989
1034:1988
1029:1987
1007:2010
1001:2007
793:2011
765:2011
737:2010
709:2010
681:2010
653:2010
625:2010
597:2010
551:ISBN
497:for
231:The
115:ISBN
486:of
454:in
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