This elegant text is a reminder that a reader does not have to agree with the ideology of a work to appreciate some of its virtues. Succinct and polished, the book draws on a wide range of sources to explore the global financial crisis. Scholarly, the author references the historical contributions to theory of Karl Marx, John Stuart Mill and Hyman Minsky.
One strength of this pluralist effort is that it looks at the crisis from a variety of angles. Unlike some accounts, it fully appreciates the international impact of fluctuating commodity prices. In particular, it focuses on the outcomes of inflation in the oil and food sectors.
Another positive feature of the narrative is its modesty about making economic predictions. Dr Cable understands that possible scenarios are often more plausible than specific economic forecasts. He cites a piece of Arabic wisdom:
“those who claim to see the future are lying, even if by chance they are later proved right.”