Press Release


Laura Czaja
Public Relations Manager

The Fearful Rise of Markets, Preventing Global Bubbles and Synchronized Financial Meltdowns

New book from FT Press by Financial Times columnist John Authers provides insights and solutions for our ailing global markets

April 27, 2010 (New York, NY) – Is the world economy at risk of another, even more catastrophic financial collapse? What are the underlying problems that haven’t, but need to be addressed? What type of financial reform do we need right now? How do so many investment bubbles form at once, across the world?

In his new book, The Fearful Rise of Markets: Global Bubbles, Synchronized Meltdowns, and How To Prevent Them in the Future (FT Press, ISBN 13: 9780137072996, hardcover, 256 pages, $24.99, 304 pages, May 2010), the award-winning Financial Times journalist and head of the Lex column, John Authers, takes on these critical questions and offers concise and sobering answers for our global markets.

Authers says, “Financial services reform; yes we need it, and it needs to be tighter, even if that means putting some kind of a lid on growth. That’s the trade-off or Faustian pact that was made in the ‘30s, and we should make the same deal again now.”

But he adds: “Reform needs to be about more than banks. Banks are important, of course, but we also need to reform the way our money is invested. Investment management has turned into an industry in the last generation without anyone really noticing. That has had a lot of unforeseen consequences, and we need to look at the whole area with new eyes.”

In The Fearful Rise of Markets, Authers addresses the risks of a developing “New Bubble,” and provides insights and solutions for the financial markets for 2010 and beyond. Authers also illuminates the multiple roots of the repeated financial crises of the past two decades, including massive shifts in the global balance of economic power; the shift of key decisions from banks to capital markets funded with “other people’s money”; the wholesale financialization of key asset classes that were once closed to most investors; and massive failures of both academic theory and government policy.

John Authers provides both concerned readers and policymakers alike with answers on why financial market bubbles occur more frequently, why this could be happening again right now, and what to do about it. Readers will find in The Fearful Rise of Markets:

  • An exploration into the inner workings of today’s highly unstable, crisis-prone financial system with an eye to the future potential problems.
  • Prescriptions for reforming global finance—and sound advice for individual investors in the meantime.
  • A global view with comprehensive context: how we got here, and why we’re still at risk.

In The Fearful Rise of Markets, readers will gain the historic perspective of the current financial crisis on a global level that is needed if we are to work out how to prevent a future crisis.

“Lastly, we need a new theory for how markets work. Rather than about math, it’s about understanding ourselves and controlling our emotions. All the most critical work on investment is now being done by psychologists, not economists or mathematicians,” sums up Authers.

Watch a retrospective of John Authers’ award-winning Video Short Views, broadcast throughout the crisis, for a complete view of the market situation over the past two years.

Click on the link below to view this book on and read an excerpt:

To request an excerpt or review copy of The Fearful Rise of Markets, or request an interview with the author, please contact Laura Czaja at 212-641-6627 or

About the Author
John Authers, as investment editor for The Financial Times, served for several years as its main commentator on international markets. In this role, he became one of the world’s most influential financial journalists, with bylined columns on display pages of Financial Times five days a week, and he recently took over as the head of the Financial Times’ flagship Lex column. Authers is in demand across the world as a speaker on finance and investment, and appears frequently on major US and global media, including the BBC, CNN, MSNBC, NPR, and PBS. He was recently honored as the UK's Investment Journalist of the Year for his coverage of the crisis of confidence in investment theory that followed the bursting of the credit bubble. His 2002 book, The Victim's Fortune, co-authored with Richard Wolffe, earned the prestigious Best of Knight-Bagehot Award.

About FT Press
FT Press (, an imprint of Pearson, publishes high-quality books in the areas of General Business, Finance and Investing, Sales and Marketing, Leadership, Management Strategy, Human Resources, and Global Business. Our brand is built on the concept of signing and publishing the world's best minds on the most relevant topics.

About Pearson
Pearson (NYSE:PSO), the global leader in education and education technology, is home to such respected brands as FT Press (, as well as Addison-Wesley Professional, Cisco Press, Exam Cram, IBM Press, Prentice Hall Professional, Que, and Sams Publishing, which have as their online publishing arm, InformIT (—The Trusted Technology Learning Source. Pearson is also co-founder, with O'Reilly Media Inc., of Safari Books Online (, the premier on-demand technology content library providing thousands of expert reference materials through a single point of contact, including expert technology, creative and design, industry and management resources in video, audio and written formats. Pearson's other primary businesses include the Financial Times Group and the Penguin Group. For more information, go to

The Fearful Rise of Markets: Global Bubbles, Synchronized Meltdowns, and How To Prevent Them in the Future
John Authers
May 2010
232 pps.
ISBN-13: 9780137072996