Books with Buzz Courage To Act by Ben S. Bernanke Learn more Shop Men's Shoes Learn more nav_sap_SWP_6M_fly_beacon $5 Albums All-New Amazon Fire TV Subscribe & Save Amazon Gift Card Offer blacklist blacklist blacklist  Amazon Echo Starting at $49.99 Kindle Voyage Shop Now Learn more
Financial Whirlpools and over one million other books are available for Amazon Kindle. Learn more

Enter your mobile number or email address below and we'll send you a link to download the free Kindle App. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required.

  • Apple
  • Android
  • Windows Phone
  • Android

To get the free app, enter your email address or mobile phone number.

Financial Whirlpools: A Systems Story of the Great Global Recession 1st Edition

7 customer reviews
ISBN-13: 978-0124059054
ISBN-10: 0124059058
Why is ISBN important?
This bar-code number lets you verify that you're getting exactly the right version or edition of a book. The 13-digit and 10-digit formats both work.
Scan an ISBN with your phone
Use the Amazon App to scan ISBNs and compare prices.
Have one to sell? Sell on Amazon
Buy used
Buy new
More Buying Choices
18 New from $31.00 17 Used from $25.21
Free Two-Day Shipping for College Students with Amazon Student Free%20Two-Day%20Shipping%20for%20College%20Students%20with%20Amazon%20Student

Save Up to 90% on Textbooks Textbooks
$39.95 FREE Shipping. Only 2 left in stock (more on the way). Ships from and sold by Gift-wrap available.

Editorial Reviews


"This work applies ‘systems thinking’ (drawing on insights from economics, psychology, philosophy, ethics, and management) in order to analyze the dynamics of the global economic crisis that began in 2008. Unlike linear thinking, the systems framework takes into account such dynamics as feedback Loops, Lags between decisions and actions, Limits to systems such as the economy, and Levers for applying change in the most effective manner."--Reference & Research Book News, December 2013 "This book delivers revealing insights about how systems theory can inform the way we think about financial systems. It has the power to change the way we think about economic crises." --Luke Houghton, Griffith University, Australia "Financial Whirlpools insists that the economy must be studied as a complex whole that is capable of producing unexpected results and brings these insights to bear on the financial sector. The book is a welcome departure from the individualistic and mechanistic thinking that blinded a profession to the possibility of the recent financial crisis." --Mark Setterfield, Trinity College, US 

From the Back Cover

How do economists reconcile their expertise with their failures to predict and manage the 2008 financial crisis? This book goes a long way toward an answer by using systems theory to reveal the complex interdependence of factors and forces behind the crisis. In her fully integrated view of the economy, how it works, and how the economic crisis burst, Karen Higgins combines human psychology, cultural values, and belief formation with descriptions of the ways banks and markets succeed and fail. In each chapter she introduces themes from financial crisis literature and brings a systems-theory treatment of them. Her methodology and visual presentations both develop the tools of systems theory and apply these tools to the financial crisis. Not just another volume about the crisis, this book challenges the status quo through its unique multidisciplinary approach.

See all Editorial Reviews

Best Books of the Month
Best Books of the Month
Want to know our Editors' picks for the best books of the month? Browse Best Books of the Month, featuring our favorite new books in more than a dozen categories.

Product Details

  • Paperback: 400 pages
  • Publisher: Academic Press; 1 edition (May 9, 2013)
  • Language: English
  • ISBN-10: 0124059058
  • ISBN-13: 978-0124059054
  • Product Dimensions: 1 x 6 x 9 inches
  • Shipping Weight: 1.4 pounds (View shipping rates and policies)
  • Average Customer Review: 5.0 out of 5 stars  See all reviews (7 customer reviews)
  • Amazon Best Sellers Rank: #2,671,143 in Books (See Top 100 in Books)

More About the Author

With degrees in engineering, math and management, expertise in software, project management and executive leadership, and university teaching experience, Dr. Karen Higgins blends many interests in her writing. Before retirement from a 32 year civilian career in the US Navy, she was involved in research, development and testing of state-of-the-art technologies. As a member of the Senior Executive Service, she was Executive Director and Director for Research and Engineering, and received the highest civilian awards for her services to the Navy and the Department of Defense.
Dr. Higgins is currently an adjunct professor at Claremont Graduate University where she teaches project management, ethical leadership and systems thinking; students from around the world keep her grounded in global events and multiple cultures. As president of ÉLAN Leadership Concepts, Dr. Higgins also serves as a leadership consultant for government and industry.
A deep interest in the economy and in systems thinking stimulated her to write her first book, "Financial Whirlpools: A Systems Story of the Great Global Recession" (2013). In this book, she analyzes the financial crisis of 2008-2009 using a systems perspective.
Dr. Higgins selected a more encompassing topic for her second book, born of her concern for the world of the future. This book, "Economic Growth and Sustainability: Systems Thinking for a Complex World" (2015) investigates relationships among Economy, Environment and Society also using a systems perspective.
On a personal note, she enjoys ballroom dancing and "loves, loves, loves" the LA Clippers!

Claremont Graduate University, Claremont, CA (Adjunct Professor)
ÉLAN Leadership Concepts (President)
Effective Edge, Austin, TX (performance catalyst)

Personal website:

Customer Reviews

5 star
4 star
3 star
2 star
1 star
See all 7 customer reviews
Share your thoughts with other customers

Most Helpful Customer Reviews

1 of 1 people found the following review helpful By Joseph Maciariello on June 1, 2013
Format: Paperback
Joseph A. Maciariello
June 1, 2013
Dr. Karen Higgins has had a long and distinguished career of public service rising to the highest levels of the Senior Executive Service in the US Navy. She has demonstrated integrity and competence in her career as attested by her colleagues. Her extraordinary leadership background and deep expertise in systems thinking has led her to write a profound book examining the causes of the global economic crises we have been suffering through since 2008. Her purpose is to encourage thoughtful students, executives and those in business and government to think differently and comprehensively about our nation's political and economic system. She succeeds admirably. She identifies the human traits that have led to the problems and the potential points of leverage for making sure that we do better in the future with these and other complex problems. A reader of this book will come away with an understanding of just how fragile these systems are and with a methodology for attacking the root causes of our social, economic, and political problems. Pulitzer Prize winning Harvard historian Bernard Bailyn in his The Ideological Origins of the American Revolution, captures the essence of my feelings after spending a day reading Dr. Higgins' book, Financial Whirlpools. He observes, "The preservation of liberty rested on the ability of the people to maintain effective checks on wielders of power and hence in the last analysis rested on the vigilance and moral stamina of the people...."
Comment Was this review helpful to you? Yes No Sending feedback...
Thank you for your feedback. If this review is inappropriate, please let us know.
Sorry, we failed to record your vote. Please try again
1 of 1 people found the following review helpful By siouxsun on June 1, 2013
Format: Paperback
The meltdown of the global economy, with the search for "why?" and "who?" left many fingers pointing in all directions. Like a "whodunit" novel, the author has carefully researched and laid out all the culprits and their needs, wants, and actions in the drama and how they interact upon the world stage. With her eye on the grand scheme and her expertise in using Systems Theory and integral thinking, she, like a sleuth, doesn't seem to miss a thing. In fact, she nails the very thing that most economists and politicians have either missed or chosen to avoid. The answer, at first, is complex, as she shares her conclusions and her advice for the future. However, as she painstakingly looks under and around all corners, one solution becomes more apparent than any of us want to admit. Most importantly, Dr. Higgins shows that using Systems Theory and an integral approach, we will find similar solutions to crises, both large and small, that we are sure to face in our future.

One can just see college students in any of the Social Sciences reading this book, as well as non-academics, being inspired to discuss and use Systems Theory in class and/or in their careers. It is a shame though, it won't let us weasel out of our role in the drama!
Comment Was this review helpful to you? Yes No Sending feedback...
Thank you for your feedback. If this review is inappropriate, please let us know.
Sorry, we failed to record your vote. Please try again
1 of 1 people found the following review helpful By RH on June 1, 2013
Format: Paperback
Financial Whirlpools does a great job of providing a coherent explanation for understanding how financial behavior could have gone so wrong as to produce the greatest recession in eighty years. The answer lies in cultures of greed at all levels of society and a failure of the regulatory structure. The systematic nature of this explanation and the integration of government, organizational, and personal levels of analysis make this book a strong contender for both graduate and undergraduate courses on organizational analysis.
Comment Was this review helpful to you? Yes No Sending feedback...
Thank you for your feedback. If this review is inappropriate, please let us know.
Sorry, we failed to record your vote. Please try again
1 of 1 people found the following review helpful By David W. Schropfer on May 20, 2013
Format: Kindle Edition Verified Purchase
This book is an in depth study for the 2007-2008 financial collapse and ensuing Global Recession. Unlike many other books on the subject, the author spends a great deal of time looking at all the players: home buyers, mortgage brokers, banks, rating agencies and myriad others, all of whom played their part in the story.

Using a "Systems way of thinking" she lays out the perverse incentives and interactions that drove the economy to the brink. The reader will gain a good understanding of the crisis as well as an introduction to the basics of Systems Engineering.

The work is full of analogies and metaphors that help to explain the complexities of the crisis in laymen's terms. These are balanced with the "loops, lags, limits and levers" of a rigorous systems analysis of the collapse. By the end of the book, the reader will have a new understanding of what went wrong, and a new prescription of remedies to keep it from happening again.

The introduction to "Systems Analysis" will serve the reader well in his thinking of other issues facing us that require more than a linear approach if they are to be understood. I highly recommend the book to anyone who is interested in a thorough approach to the analysis of complex systems that affect us all.
Comment Was this review helpful to you? Yes No Sending feedback...
Thank you for your feedback. If this review is inappropriate, please let us know.
Sorry, we failed to record your vote. Please try again

Set up an Amazon Giveaway

Amazon Giveaway allows you to run promotional giveaways in order to create buzz, reward your audience, and attract new followers and customers. Learn more
Financial Whirlpools: A Systems Story of the Great Global Recession
This item: Financial Whirlpools: A Systems Story of the Great Global Recession
Price: $39.95
Ships from and sold by
Want to discover more products? Check out these pages to see more: ethics, international economics