Recession Challenge Author: Ramesh Tehlani Page: 118 Price: Rs.125 Publisher: Unicorn Books "Recession Challenge" written by Ramesh Tehlani comes across as an eminently topical book. It’s precise yet comprehensive, combines theory and case studies from the real world, and is refreshingly humble about the limits of economic knowledge. Best of all, the discussion on the role played by financial systems in the onset and propagation of downturns couldn’t be more timely. The author summarizes academic business cycle theories and the so-called real business models. He concludes with a discussion of some of the major downturns of the 20th century, from the Great Depression of 1930s to the East Asian Crisis of the 1990s, to the long recession in Japan. He does an exemplary job covering the recent real estate debacle in US and the resulting spillover worldwide in general and India in particular. Views of eminent economists have been adequately covered. The book is plainly intended as an informative book, and, measured by that rather undemanding standard, is relatively readable. For the general reader, such as myself, this is valuable if, for no other reason than understanding what economists are talking about. If you’ve been adversely affected by the recent recession, this book can help place your loss in the broader context and let you anticipate things so that you’re better prepared in the future. It is written well and keeps the reader engaged.
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