The Dow fell below 10,000 in Tuesday trading following slumps in Europe and Asia but managed to close at 10,044. Leading economic thinkers Nouriel Roubini and Ian Bremmer let readers in on their thoughts on why the economic crisis threatens the free market, who are the likely winners and losers, and why the U.S. might need another debacle before it changes.
At the beginning of this year, we wrote a piece for The Wall Street Journal on the political and economic turmoil moving markets around the world. In it, we argued that “The moment is approaching when the artificial line separating the wealthy from emerging markets will lose much of its relevance.” That day is now much closer.
Both of us have published books this month. Nouriel has written Crisis Economics: A Crash Course in the Future of Finance, a detailed look at booms, busts, and where the global economy is headed. Ian has written The End of the Free Market: Who Wins the War Between States and Corporations? It’s the story of the political factors that now threaten free-market capitalism.
Given the complementary topics of these books—and the steady stream of recent headlines detailing how economic and political volatility is upending our assumptions about the future—we’ve started a conversation about why all of this is happening and what might happen next.
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