Apart from the philosophical framework at the start, the contemporary analysis is excellent and the predictive message has come very truth. He talks of the mess Bush has brought with his faux war on terror and its disastrous consequences. Soros made a fortune in exchange rate markets in the 1990s and the way he almost in passing, highlights the bubble in house pricing, the false methodology in the credit markets and coming fall makes you wonder why more people don’t take note. The reason is political; Soros is a critic of Bush and an honest man in the markets. The markets didn’t want any kind of shadow drawn over their sun.
Direct and simple explanatory economic book, using modern examples to explain the way markets work, how proper taxation can be productive and how smartly China grew and is deeply integrated in the modern world. The book backs markets unreservedly. Harford has no reservation about his own value and I wonder what this economic journalist would make of the present calamities.
In sum, it’s quite revealing the differences between a thinking man who fled the Nazis and made his money and a mildly smug Oxford-educated BBC journalist.