Includes bibliography and index

This book takes the student through the major characteristics of the global economy in jargon-free non-technical language. Since the last edition was published in 2006, enormous changes have taken place. The world economy has been in upheaval with the biggest financial crash and ensuing recession since the 1930s; with a global re-ordering of economic power relations; with widespread demonstrations by those left behind; with divergent views about where Europe is heading; with a growing scarcity of essential resources; with increasing international terrorism and with increasing concerns of environmental degradation and climate change. To embrace such urgent issues, this text is an almost entirely rewritten version of earlier editions. Topics covered include: Why crashes occur; What causes some countries to grow and others to stagnate; Whether the Euro can survive; The economic underpinnings of terrorism; The dangers of climate change.