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Prospect’s books of 2018: economics

From Adam Smith to Adam Tooze

The City. Overrated? © Matt Crossick/Matt Crossick/Empics Entertainment/PA

The City. Overrated? © Matt Crossick/Matt Crossick/Empics Entertainment/PA

Since 2008 many books have tried to explain why the financial crisis happened. None has been as monumental as Adam Tooze’s Crashed (Allen Lane). Tooze, a historian at Columbia University, writes authoritatively on a wide range of subjects—from the workings of the credit default swap market to the intricacies of Italian politics and the geopolitics of Ukraine. These were not, though, the things that would eventually derail the global economy. Instead Tooze identifies the…

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