“When Bubbles Burst” provides a fascinating glimpse into the inner workings of the global economy, examining the mechanics behind bubbles and crashes and suggesting trends for the future. In a globalized economy, it has become increasingly difficult for nations, companies and individuals to protect themselves from financial volatility. What causes our global system to generate unforeseen bubbles and catastrophic crashes? The picturesque Norwegian town of Vik provides a microcosm of the fallout of the financial crisis. Somehow, this tiny hamlet – populated by just 2,800 people – was sucked into schemes too complicated to understand and nearly bankrupt. We hear from players in the global economic casino, thinkers and world-class economists, like the celebrated writer Michael Lewis and Nobel laureate Joseph Stiglitz. They give an unflinching account of today’s situation and draw fascinating historical parallels.