Most would agree that the great recession of 2008 was unprecedented. Although it wasn't quite like the depression of 1929, it was worse in other ways. It took most government politicians and central banks off guard and so they had to scramble to find a solution to the underlying causes. They took the onus completely on themselves to solve the issue. They have effectively become the only game in town when it comes to growing the economy. Mohamed A. El-Erian, in his wonderful book The Only Game in Town: Central Banks, Instability, and Avoiding the Next Collapse, goes into some depth as to how the central banks tried to stave off complete collapse and what we can be done to avoid the next collapse. In this Summary, we will analyze, discuss, and summarize the key points in The Only Game in Town: Central Banks, Instability, and Avoiding the Next Collapse. Enjoy!
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