Rana Foroohar was recently named global business columnist and
Associate Editor for the Financial Times. She is also CNN's global
economic analyst.
Prior to joining the FT and CNN, Foroohar was for six years the
assistant managing editor in charge of business and economics at
TIME, as well as the magazine's economic columnist. She also spent
13 years at Newsweek, as an economic and foreign affairs editor and
a foreign correspondent covering Europe and the Middle East. During
that time, she was awarded the German Marshall Fund's Peter Weitz
Prize for transatlantic reporting. She has also received awards and
fellowships from institutions such as the Johns Hopkins School of
International Affairs and the East West Center. She is a life
member of the Council on Foreign Relations.
Foroohar graduated in 1992 from Barnard College, Columbia
University. She lives in Brooklyn with her husband, the writer John
Sedgwick, and her two children, Darya and Alex.
Voted one of the Best Books of 2016 by the Financial Times and one
of the best books of the year by Bloomberg
BusinessWeek.
"A masterly account of the disproportionate power that the
financial sector exercises in the economy and the disastrous
consequences this has for society as a whole." —Forbes.com
"A credible explanation for the rise of economic populism in the
2016 U.S. presidential race. Anyone seeking to truly
understand the resonance of the anti–Wall Street vitriol of Bernie
Sanders and Donald Trump could do worse than to start
here." —Fortune.com
“Foroohar demystifies the decline in America’s economic prominence,
showing that the competitive threats came not from the
outside—migration or China—but from within our borders. She
explains how finance has permeated every aspect of our economic and
political life, and how those who caused the financial crisis wound
up benefiting from it.” —Joseph E. Stiglitz, Nobel laureate in
economics and former head of the Council of Economic Advisors
“A fast-paced, exciting, and well-researched tale that brings alive
the shady dealings that have been part of the recent rise of
finance (the takers). Wall Street has prospered beyond measure by
consuming far too much of the value created by the real economy
(the makers). Readers will be shocked by the shenanigans that are
revealed, and then eager to help fix what has been so badly broken.
It’s up to us—all of us.” —John C. Bogle, founder and former CEO,
Vanguard
“In this well-written, refreshing, and provocative book, Rana
Foroohar analyzes how Wall Street went from an enabler of
prosperity to a headwind to growth and a contributor to inequality.
This engaging analysis identifies five key policy areas that will
rightly be the subject of debate and, hopefully, some political
action. This is a must-read for those looking to better understand
how, why, and when financial engineering went too far, and what to
do about it." —Mohamed A. El-Erian, chief economic
adviser, Allianz; former CEO, PIMCO
“From the leading edge of business journalism, Rana Foroohar has
produced a powerful book about how financial manipulation has
spread beyond the financial sector itself to colonize the American
economy, to the enormous detriment of real, productive activities.
By mapping the rise of financialization and its effects, Foroohar
sheds light on almost everything we now see, from the inequality
debate to presidential politics to America’s global
competitiveness. A phenomenal achievement.” - Charles
Ferguson, producer, Inside Job
“As the next US election looms, one of the most important questions
that voters will need to ask is what is wrong with the American
economy—and what can be done to fix it. Foroohar’s book is required
reading for this. With deft storytelling and clear analysis, she
explains how America’s economy has become stealthily
“financialized”—and why this process has been so debilitating for
American growth, not to mention the lives of ordinary people. The
2008 financial crisis was one sign of this; however, the issues
have not ended there. Foroohar not only argues that it is crucial
that America tackle these woes but offers commonsense solutions for
doing so. Politicians—and voters—should take note.” —Gillian Tett,
US managing editor, Financial Times, author of The Silo Effect
“There is no bigger question in public policy than whether the
emergence of an ever-larger financial sector has made for a smaller
and less equal society. Makers and Takers provides an
intellectually compelling, and beautifully written, answer to that
question, one which policy makers cannot and should not duck.”
—Andy Haldane, chief economist and executive director of monetary
analysis and statistics at the Bank of England
“Rana Foroohar offers a sometimes maddening, thoroughly fascinating
look at the financial sector’s outsized role in the US economy and
what it means for America’s future. This is a critical story that
speaks directly to the ways in which banks are stripping businesses
of their potential—and to the income inequality that increasingly
defines our times.” —Ian Bremmer, Founder and Head of the
Eurasia Group
“Foroohar is one of the rare journalists with the insider knowledge
and contacts, as well as the deft writing touch, to criticize the
“financialization” of the US economy in a way that will sound
credible to Wall Street, and readable on Main Street. In this
fast-paced book she makes a compelling case for how businesses have
come to focus more on engineering their finances than engineering
good products, and the negative effect this has on US growth and
productivity." —Ruchir Sharma, Chief Macroeconomist and Head
of Emerging Markets, Morgan Stanley Investment Management
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