Trevor Jackson, at NYRB: "The global economy since the 1980s has been riven by repeated financial crises. Latin America endured a 'lost decade' of economic growth. The 1990s in Russia were worse than the Great Depression had been in Germany and the United States. The austerity and high-interest-rate policies after the 1997 East Asia crisis restored financial stability but at the cost of domestic recessions, and contributed to political instability and the repudiation of incumbent parties in Indonesia, the Phillipines, and South Korea, as they did again across Europe after 2009-2010. Global economic growth rates in the era of globalization have been about half of what they were in the less globalized postwar decades."