Why did the Eurozone end up with an unemployment rate more than twice than that of the United States and six years after the collapse of Lehman Brothers? Was crisis in the Eurozone inevitable? What caused the prolonged economic failure experienced by the majority of the world's low- and middle-income countries at the end of the 20th century?
Failed analyzes and ties together some of the most important economic developments of recent years with the common theme that they have been widely misunderstood and in some cases almost completely ignored. A central argument of Failed is that there are always viable alternatives to prolonged economic failure. Author Mark Weisbrot shows that political agendas are often the root cause of avoidable financial crises and drawing on lessons learned from previous crises, recessions, and subsequent recovers can prevent further failures in the future.
Mark Weisbrot is co-director of the Center for Economic and Policy Research, in Washington, D.C.