From the author of Crashed comes a gripping short history of how Covid-19 ravaged the global economy, and where it leaves us now.

When the news first began to trickle out of China about a new virus in December 2019, risk-averse financial markets were alert to its potential for disruption. Yet they could never have predicted the total economic collapse that would follow in COVID-19's wake, as stock markets fell faster and harder than at any time since 1929, currencies across the world plunged, investors panicked, and even gold was sold. In a matter of weeks, the world's economy was brought to an abrupt halt by governments trying to contain a spiralling public health catastrophe.

Flights were grounded; supply chains broken; industries from tourism to oil to hospitality collapsed overnight, leaving hundreds of millions of people unemployed. Central banks responded with unprecedented interventions, just to keep their economies on life-support. For the first time since the second world war, the entire global economic system contracted. This book tells the story of that shutdown. We do not yet know how this story ends, or what new world we will find on the other side.

In this fast-paced, compelling and at times shocking analysis, Adam Tooze surveys the wreckage, and looks at where we might be headed next.

"Masterful . . . [A] painstakingly researched, astonishingly erudite study...Tooze has added his name to the roll call of top-class scholars of Nazism." -Financial Times An extraordinary mythology has grown up around the Third Reich that hovers over political and moral debate even today. Adam Tooze's controversial book challenges the conventional economic interpretations of that period to explore how Hitler's surprisingly prescient vision--ultimately hindered by Germany's limited resources and his own racial ideology--was to create a German super-state to dominate Europe and compete with what he saw as America's overwhelming power in a soon-to- be globalized world. The Wages of Destruction is a chilling work of originality and tremendous scholarship that set off debate in Germany and will fundamentally change the way in which history views the Second World War.

Some years-1789, 1929, 1989-change the world suddenly. Or do they? In 2020, a pandemic converged with an economic collapse, inequalities exploded, and institutions weakened. Yet these crises sprang not from new risks but from known dangers. The world-like many patients-met 2020 with a host of preexisting conditions, which together tilted the odds toward disaster. Perhaps 2020 wasn't the year the world changed; perhaps it was simply the moment the world finally understood its deadly diagnosis. In The Long Year, some of the world's most incisive thinkers excavate 2020's buried crises, revealing how they must be confronted in order to achieve a more equal future. Keeanga-Yamahtta Taylor calls for the defunding of police and the refunding of communities; Keisha Blain demonstrates why the battle against racism must be global; and Adam Tooze reveals that COVID-19 hit hardest where inequality was already greatest and welfare states weakest. Yarimar Bonilla, Xiaowei Wang, Simon Balto, Marcia Chatelain, Gautam Bhan, Ananya Roy, and others offer insights from the factory farms of China to the elite resorts of France, the meatpacking plants of the Midwest to the overcrowded hospitals of India. The definitive guide to these ongoing catastrophes, The Long Year shows that only by exposing the roots and ramifications of 2020 can another such breakdown be prevented. It is made possible through institutional partnerships with Public Books and the Social Science Research Council.

Tooze provides an interpretation of the period of dramatic statistical innovation between 1900 and 1945. The Weimar Republic and the Third Reich were in the forefront of statistical innovation in the interwar decades. New ways of measuring the economy were inspired both by contemporary developments in macroeconomic theory and the needs of government. Under the Nazi regime, these statistical tools provided the basis for a radical experiment in economic planning. Based on the German example, Tooze argues for a more wide-ranging reconsideration of the history of modern economic knowledge.

Adam Tooze's The Wages of Destruction: The Making and Breaking of the Nazi Economy provides a groundbreaking new account of how Hitler established himself in power, mobilized for war - and led his country to annihilation. Was the tragedy of the Second World War determined by Nazi Germany's terrifying power, or by its fatal weakness? This gripping and universally-acclaimed new history tells the real story of the cost of Hitler's plans for world domination - and will overturn everything you thought you knew about the Third Reich. 'A tour de force' Niall Ferguson 'Masterful ... smashes a gallery of preconceptions' The Times 'This book will change the way we look at Nazi history ... nothing less than a masterpiece. Rejoice, rejoice, for a great historian is born' Sunday Telegraph 'A remarkable and gripping revision of the history of Nazi Germany' New Statesman Books of the Year 'A powerful and provocative reassessment of the whole story' Richard Overy

The conflict that ended in 1945 is often described as a 'total war', unprecedented in both scale and character. Volume 3 of The Cambridge History of the Second World War adopts a transnational approach to offer a comprehensive and global analysis of the war as an economic, social and cultural event. Across twenty-eight chapters and four key parts, the volume addresses complex themes such as the political economy of industrial war, the social practices of war, the moral economy of war and peace and the repercussions of catastrophic destruction. A team of nearly thirty leading historians together show how entire nations mobilized their economies and populations in the face of unimaginable violence, and how they dealt with the subsequent losses that followed. The volume concludes by considering the lasting impact of the conflict and the memory of war across different cultures of commemoration.

Winner of the 2019 Lionel Gelber Prize 'Majestic, informative and often delightful ... insights on every page' Yanis Varoufakis, Observer The definitive history of the Great Financial Crisis, from the acclaimed author of The Deluge and The Wages of Destruction. In September 2008 the Great Financial Crisis, triggered by the collapse of Lehman brothers, shook the world. A decade later its spectre still haunts us. As the appalling scope and scale of the crash was revealed, the financial institutions that had symbolised the West's triumph since the end of the Cold War, seemed - through greed, malice and incompetence - to be about to bring the entire system to its knees. Crashed is a brilliantly original and assured analysis of what happened and how we were rescued from something even worse - but at a price which continues to undermine democracy across Europe and the United States. Gnawing away at our institutions are the many billions of dollars which were conjured up to prevent complete collapse. Over and over again, the end of the crisis has been announced, but it continues to hound us - whether in Greece or Ukraine, whether through Brexit or Trump. Adam Tooze follows the trail like no previous writer and has written a book compelling as history, as economic analysis and as political horror story.

The Economic Consequences of the Peace is one of the most famous books in the history of economic thought. It is also one of the most polemical. Published as a response to what Keynes saw as the grave errors of the Treaty of Versailles, the book predicted that war reparations and other harsh terms imposed on Germany would lead to its collapse, which in turn would lead to devastating consequences for Europe and the wider world. Predictions that we now know to have been all too accurate. Keynes's Economic Consequences of the Peace after 100 Years brings together an international team of experts to assess the legacy of Keynes's best-selling work. It compiles a series of wide-ranging chapters, exploring the varied influence of his ideas and policy contributions. Written in an accessible style, it recovers the importance of this history and examines the continued relevance of Keynes's controversial book.

WINNER OF THE LIONEL GELBER PRIZE A NEW YORK TIMES NOTABLE BOOK OF 2018 ONE OF THE ECONOMIST'S BOOKS OF THE YEAR A NEW YORK TIMES CRITICS' TOP BOOK "An intelligent explanation of the mechanisms that produced the crisis and the response to it...One of the great strengths of Tooze's book is to demonstrate the deeply intertwined nature of the European and American financial systems."--The New York Times Book Review From the prizewinning economic historian and author of Shutdown and The Deluge, an eye-opening reinterpretation of the 2008 economic crisis (and its ten-year aftermath) as a global event that directly led to the shockwaves being felt around the world today. We live in a world where dramatic shifts in the domestic and global economy command the headlines, from rollbacks in US banking regulations to tariffs that may ignite international trade wars. But current events have deep roots, and the key to navigating today's roiling policies lies in the events that started it all-the 2008 economic crisis and its aftermath. Despite initial attempts to downplay the crisis as a local incident, what happened on Wall Street beginning in 2008 was, in fact, a dramatic caesura of global significance that spiraled around the world, from the financial markets of the UK and Europe to the factories and dockyards of Asia, the Middle East, and Latin America, forcing a rearrangement of global governance. With a historian's eye for detail, connection, and consequence, Adam Tooze brings the story right up to today's negotiations, actions, and threats-a much-needed perspective on a global catastrophe and its long-term consequences.

FINALIST FOR THE ORWELL PRIZE FOR POLITICAL WRITING 2022 THE TIMES BOOKS OF THE YEAR 2021 'A complex story, which Tooze tells with clarity and verve... The world is unlikely to be treated to a better account of the economics of the pandemic' The Times 'A seriously impressive book, both endlessly quotable and rigorously analytical' Oliver Bullough, The Guardian From the author of Crashed comes a gripping short history of how Covid-19 ravaged the global economy, and where it leaves us now When the news first began to trickle out of China about a new virus in December 2019, risk-averse financial markets were alert to its potential for disruption. Yet they could never have predicted the total economic collapse that would follow in COVID-19's wake, as stock markets fell faster and harder than at any time since 1929, currencies across the world plunged, investors panicked, and even gold was sold. In a matter of weeks, the world's economy was brought to an abrupt halt by governments trying to contain a spiralling public health catastrophe. Flights were grounded; supply chains broken; industries from tourism to oil to hospitality collapsed overnight, leaving hundreds of millions of people unemployed. Central banks responded with unprecedented interventions, just to keep their economies on life-support. For the first time since the second world war, the entire global economic system contracted. This book tells the story of that shutdown. We do not yet know how this story ends, or what new world we will find on the other side. In this fast-paced, compelling and at times shocking analysis, Adam Tooze surveys the wreckage, and looks at where we might be headed next.

Some years-1789, 1929, 1989-change the world suddenly. Or do they? In 2020, a pandemic converged with an economic collapse, inequalities exploded, and institutions weakened. Yet these crises sprang not from new risks but from known dangers. The world-like many patients-met 2020 with a host of preexisting conditions, which together tilted the odds toward disaster. Perhaps 2020 wasn't the year the world changed; perhaps it was simply the moment the world finally understood its deadly diagnosis. In The Long Year, some of the world's most incisive thinkers excavate 2020's buried crises, revealing how they must be confronted in order to achieve a more equal future. Keeanga-Yamahtta Taylor calls for the defunding of police and the refunding of communities; Keisha Blain demonstrates why the battle against racism must be global; and Adam Tooze reveals that COVID-19 hit hardest where inequality was already greatest and welfare states weakest. Yarimar Bonilla, Xiaowei Wang, Simon Balto, Marcia Chatelain, Gautam Bhan, Ananya Roy, and others offer insights from the factory farms of China to the elite resorts of France, the meatpacking plants of the Midwest to the overcrowded hospitals of India. The definitive guide to these ongoing catastrophes, The Long Year shows that only by exposing the roots and ramifications of 2020 can another such breakdown be prevented. It is made possible through institutional partnerships with Public Books and the Social Science Research Council.

Tooze provides an interpretation of the dramatic period of statistical innovation between 1900 and the end of World War II. At the turn of the century, virtually none of the economic statistics that we take for granted today were available. By 1944, the entire repertoire of modern economic statistics was being put to work in wartime economic management. As this book reveals, the Weimar Republic and the Third Reich were in the forefront of statistical innovation in the interwar decades. New ways of measuring the economy were inspired both by contemporary developments in macroeconomic theory and the needs of government. The Weimar Republic invested heavily in macroeconomic research. Under the Nazi regime, these statistical tools were to provide the basis for a radical experiment in economic planning. Based on the German example, this book presents the case for a more wide-ranging reconsideration of the history of modern economic knowledge.

FINALIST FOR THE ORWELL PRIZE FOR POLITICAL WRITING 2022 THE TIMES BOOKS OF THE YEAR 2021 'A complex story, which Tooze tells with clarity and verve... The world is unlikely to be treated to a better account of the economics of the pandemic' The Times From the author of Crashed comes a gripping short history of how Covid-19 ravaged the global economy, and where it leaves us now When the news first began to trickle out of China about a new virus in December 2019, risk-averse financial markets were alert to its potential for disruption. Yet they could never have predicted the total economic collapse that would follow in COVID-19's wake, as stock markets fell faster and harder than at any time since 1929, currencies across the world plunged, investors panicked, and even gold was sold. In a matter of weeks, the world's economy was brought to an abrupt halt by governments trying to contain a spiralling public health catastrophe. Flights were grounded; supply chains broken; industries from tourism to oil to hospitality collapsed overnight, leaving hundreds of millions of people unemployed. Central banks responded with unprecedented interventions, just to keep their economies on life-support. For the first time since the second world war, the entire global economic system contracted. This book tells the story of that shutdown. We do not yet know how this story ends, or what new world we will find on the other side. In this fast-paced, compelling and at times shocking analysis, Adam Tooze surveys the wreckage, and looks at where we might be headed next. 'A seriously impressive book, both endlessly quotable and rigorously analytical' Oliver Bullough, The Guardian

WINNER OF THE LOS ANGELES TIMES PRIZE FOR HISTORY FINANCIAL TIMES AND NEW STATESMAN BOOKS OF THE YEAR 2014 On the centenary of the outbreak of the First World War, Deluge is a powerful explanation of why the war's legacy continues to shape our world - from Adam Tooze, the Wolfson Prize-winning author of The Wages of Destruction In the depths of the Great War, with millions of dead and no imaginable end to the conflict, societies around the world began to buckle. As the cataclysmic battles continued, a new global order was being born. Adam Tooze's panoramic new book tells a radical, new story of the struggle for global mastery from the battles of the Western Front in 1916 to the Great Depression of the 1930s. The war shook the foundations of political and economic order across Eurasia. Empires that had lasted since the Middle Ages collapsed into ruins. New nations sprang up. Strikes, street-fighting and revolution convulsed much of the world. And beneath the surface turmoil, the war set in motion a deeper and more lasting shift, a transformation that continues to shape the present day: 1916 was the year when world affairs began to revolve around the United States. America was both a uniquely powerful global force: a force that was forward-looking, the focus of hope, money and ideas, and at the same time elusive, unpredictable and in fundamental respects unwilling to confront these unwished for responsibilities. Tooze shows how the fate of effectively the whole of civilization - the British Empire, the future of peace in Europe, the survival of the Weimar Republic, both the Russian and Chinese revolutions and stability in the Pacific - now came to revolve around this new power's fraught relationship with a shockingly changed world. The Deluge is both a brilliantly illuminating exploration of the past and an essential history for the present.