"Boomerang," written by Michael Lewis, explores the aftermath of the financial crisis that struck various countries, particularly focusing on how different cultures responded to the economic fallout. Through detailed anecdotes, Lewis illustrates the varying degrees of recklessness and accountability exhibited by different nations. His observations reveal that while some countries faced the crisis with resilience, others were blinded by arrogance and entitlement, ultimately leading to their financial demise.
The narrative is driven by compelling stories from countries like Greece, Ireland, and Germany, each showcasing unique economic behaviors and practices. Lewis delves into how cultural and social factors influenced the way these nations approached debt and economic policy. The contrast between their mindsets plays a critical role in understanding the broader economic dynamics in play during the crisis.