In 2018, Columbia history professor Adam Tooze published his magisterial work “Crashed”, which framed the Great Financial Crisis as essentially a crisis of the global dollar system (as opposed to merely a housing bubble). Now we’re experiencing numerous systemic frailties all at the same time, amid extraordinary difficult times for the real economy, the financial system, and virtually every government around the world. On this week’s episode, Tooze compares and contrasts the last crisis to this one, and how it might permanently change our world.
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