Mapping the Great Recession: A Reader ' s Guide to the First Crisis of 21st Century Capitalism

Commentators agree that the crisis that boiled to a bubble in the fall of 2008 ("the Great Recession") is the gravest downturn since the depression of the 1930s. That makes it one of the two greatest crises in the history of capitalism. And plainly, the crisis continues, yielding severe joblessness and a growing danger of government defaults, bank failures, and stock market crashes. Hundreds of commentators have sought to explain the crisis. Yet much remains murky, even paradoxical. This essay attempts to put the crisis in perspective by mapping the universe of crisis literature. It begins by framing some of the key questions posed in this literature. Next it offers sharply etched reviews of thirteen key books. The result is a multi-faceted portrait of a crisis that is still unfolding.