Nobel laureate in economics Joseph Stiglitz reveals to readers the entire background of the recent financial crisis, with his characteristic directness he names the main culprits, describes the secret schemes and driving mechanisms of the economic catastrophe. The book contains a full-scale and objective analysis of the post-crisis situation, the global changes that have occurred, including the change of economic roles, the weakening of former and the strengthening of new leaders, especially China. The author's professional assessment of the efforts currently being undertaken by the US government and other countries aimed at economic recovery, including an assessment of the effectiveness of stimulus packages, deserves special attention. Not limited to stating and analyzing the facts, Joseph Stiglitz also makes specific recommendations to prevent future economic disasters.