Brown speaks both as someone who was in the room driving discussions that led to some crucial decisions and as an expert renowned for his remarkable financial acumen. No one who had Brown’s access has written about the crisis yet, and no one has written so convincingly about what the global community must do next in order to climb out of this abyss. Brown outlines the shocking recklessness and irresponsibility of the banks that he believes contributed to the depth and breadth of the crisis. As he sees it, the crisis was brought on not simply by technical failings, but by ethical failings too. Brown argues that markets need morals and suggests that the only way to truly ensure that the world economy does not flounder so badly again is to institute a banking constitution and a global growth plan for jobs and justice.
Beyond the Crash puts forth not just an explanation for what happened, but a directive for how to prevent future financial disasters. Long admired for his grasp of economic issues, Brown describes the individual events that he believes led to the crisis unfolding as it did. He synthesizes the many historical precedents leading to the current status, from the 1933 London conference of world leaders that failed to resolve the Great Depression to the more recent crash in the Asian housing market. Brown’s analysis is of paramount importance during these uncertain financial times.
As Brown himself said of his ideas for the future, “We now live in a world of global trade, global financial flows, global movements of people, and instant global communications. Our economies are connected as never before, and I believe that global economic problems require global solutions and global institutions. In writing my analysis of the financial crisis, I wanted to help explain how we got here, but more important, to offer some recommendations as to how the next stage of globalization can be managed so that the economy works for people and not the other way around.”
About the Author
Gordon Brown is the United Nations Special Envoy for Global Education. The former Prime Minister of the United Kingdom and leader of the Labour Party from 2007 to 2010 also served as Chancellor of the Exchequer from 1997 to 2007, making him the longest-serving Chancellor in modern history. As Prime Minister, his tenure coincided with the financial crisis, and he was one of the first to initiate calls for global financial action; his administration also simultaneously introduced a range of rescue measures within the country. Brown has a PhD in History from the University of Edinburgh. A Member of Parliament between 1983 and 2015, he lives in Fife, Scotland, and is married to Sarah Brown, a charity campaigner, and the couple have two sons.