The Trillion Dollar Meltdown by Charles Morris (PublicAffairs, £13.99)
J K Galbraith once observed that all financial crises produce similar responses: someone has to be blamed; there is a headlong rush to regulate and reform; and, amid the intense focus on the idiosyncrasies of the crisis, the thing that actually caused it all in the first place—speculation—gets overlooked. The celebrated economist, who died just over two years ago, would have recognised the credit crisis that began last year, and its aftermath, as entirely typical.
Accusations and the rush to regulate are all around, but there is little discussion about how…
Register today to continue reading
You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.
You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.
Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.
Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.
Already a subscriber? Log in here