Understanding the Crash by Tobocman, Seth, Laursen, Eric (2010) Paperback

by Seth Tobocman

Understanding the Crash starts with a simple question that still haunts us What has happened to the world economy? With the kind of striking precision that only graphic nonfiction can provide, Seth Tobocman and Eric Laursen explain just how we got into this mess — and how we can get out of it.Looking back across more than a quarter century, the authors outline the roots of our current economic crisis. They show how the troubles of a working-class community in Cleveland or a newly built suburb of Miami became an international financial crisis, explaining the complex new forms of credit that came into being because of financial deregulation, and how they created an economic whirlpool. From there they discuss how, over the same time span, a smaller and smaller group of people came to control a larger and larger percentage of the world’s money — a result of rising inequality that, combined with the shortage of affordable housing, a decline in real wages, and our unwavering belief in an �ownership society,” impelled poor people into debt. Tobocman and Laursen conclude with a consideration of a restructured financial system and a look toward a culture of sustainability — one that covets real wealth in the form of security, meaningful work, and community.

Genres: Graphic Novels, Politics, Economics, Comics, History, Nonfiction, Graphic Novels Comics

Paperback

First published May 1, 2010

About the author

Radical comic book artist who has been living in Manhattan's Lower East Side since 1978. Tobocman is best known for his creation of the political comic book World War 3 Illustrated, which he started in 1979 with fellow artist Peter Kuper. He has also been an influential propagandist for the squatting, anti-globalist, and anti-war movements in the United States.

Reviews

[Jayme · Rating 5 out of 5]

I loved this book. Yes, it's a simplified explanation of the economic crash, but at least it's written in a way that someone like me can understand. I believe the most important point of this short book is that the crash was not just the result of recent events, or even events of the past few years, but that the (seemingly)small actions taken by various administrations since Roosevelt have led to these dire consequences. Our lack of foresight has always led to our downfall. And now we're trying to rebuild the same broken system. It isn't going to work. Just sayin'.

[Michael · Rating 4 out of 5]

One of the reasons--perhaps the only reason--I didn't read many comic books as a kid is how short they are. I could never justify spending a few bucks on something I'd be done with in 15 minutes. In college, someone lent me a copy of The Dark Knight Returns (a long graphic novel about Batman)and I enjoyed it tremendously. It was was cool to look at, the story was marvelous, and it took me more than an hour to read! I like graphic novels.

Understanding the Crash is a work of graphic nonfiction. The authors and artist tell the story of the Crash of 2008 in simple language, mixing in stories of people who were affected by the economic catastrophe, and illustrating the whole thing in black and white. I already knew much of the information the authors were offering up, but I found the narratives--the stories of real people--made the book much more compelling.

It's hard to believe that it's already been four years since the wheels came off. If you are confused by CDSs, CDOs, MBSs, and the rest of the alphabet soup of financial shenanigans that drove our economy off of a cliff, this book is a short and effective primer. If you want to know more, I suggest the PBS Frontline series "Money, Power, and Wallstreet."

I gave this four stars because it could have been longer.

[Alex · Rating 4 out of 5]

a nice, short graphic book about the 2008 financial crisis. great for explaining things from a progressive reformist angle, but does not critique capitalism. it does however critique the big banks, and call for a militant mass movement, and even direct action along the lines of Take Back the Land. definitely recommened for people who aren't already radical.

[Brittany · Rating 4 out of 5]

This book lays out the conditions that created and the fallout from the financial fiasco of 2008. An intriguing read and not hard to follow, which is what I was afraid of when I picked it up. A good, informative read.

[Luke · Rating 4 out of 5]

Good explanation of what caused the crash of 2008 combined with solid advice to repair the damage and prevent the crash from recurring.

[Rye · Rating 4 out of 5]

"In Washington, Wall Street speaks louder than Main Street. We have a government of, by, and for the wealthy."

[Sean · Rating 4 out of 5]

A cogent and striking depiction of the financial crisis, how it is ongoing, and how we got there.

[Barbikat60 · Rating 5 out of 5]

A must for every school library.