The financial crisis that has gripped global markets over the last year or so is generating a global economic downturn of a severity not seen since the 1930s. On that occasion, a collapse of credit, trade, production, and living standards was associated with the spread of state intervention and fundamental shift in the political landscape. Marcus Miller is a Professor of Economics at the University of Warwick. He was a research fellow at the Bank of England at the time the crisis unfolded. The University of Warwick is focused on uncovering endless possibilities. For our students. For our academics. For the world. Our curiosity moves us to constantly redefine what possible means. We’re breaking the boundaries that determine the way we eat, how we think, when life begins and much, much more. Our research is pioneering. Our teaching and learning reaches the high standards expected from a world-leading university. We work effectively with business to achieve major commercial and social impact. This is Warwick. We deliver excellence with purpose. And we invite you to explore the possibilities that are open to you. To view more of our latest videos, check out: https://www.youtube.com/user/uniwarwick/videos Discover the range of courses we offer: https://warwick.ac.uk/study Book onto our upcoming Open Days: https://warwick.ac.uk/study/undergraduate/visits/opendays/ Find more information about the support and wellbeing services we have available: https://warwick.ac.uk/study/undergraduate/campuslife/support/ To check out the opportunities available through our Students' Union visit: https://www.warwicksu.com Don't forget to follow us on social media to stay up to date with campus news and events. Instagram: @universityofwarwick Facebook:/warwickuniversity Twitter @warwickuni