Massimo Amato

OK, let us start with a bit of honesty: I am to economics what custard is to roast beef! This will, therefore, be the views of a non-economist. For this reason, I shall not comment upon the possible solutions to the current economic crisis, which form the third part of this work in any more detail than to say that they appear rational, but that they involve considerable contrition and downsizing of Wall Street and the City of London. Our 'beloved' prime minister has already indicated that he would torture his entire family if it pleases the money moguls, and I am sure that the 'brave' leader of the opposition would offer to inflict unspeakable pain upon an extended family if only these people would smile upon his political ambition. I, therefore, have deep scepticism that these ideas will be employed.

Speaking personally, I found the history of the economic system absolutely fascinating and full of information of which I had not the faintest notion. The book takes us back through history - starting with a description of the current position and working back via the major changes to the inception of World finance. My initial reaction was that this was the wrong way around and that a build from the bottom approach would be preferable. I quickly came to accept that the authors knew what they were doing and that their method showed, much more clearly, the fudging which has gone into the finance market. Like so many areas of life, it seems that our banking system was never truly designed, it came about by necessity and, at each major crises, the prospect of actually putting things right has appeared so horrendous that a quick bodge to push the problem into the future, has been the easier, and therefore more expedient option. The other difficulty is that the decisions are made by the country whose currency is in the ascendency at the time - and which World leader wants to step back into obscurity?

I did not find this book as easy to read as the blurb implied, but I did find the effort to have been well rewarded: whilst I may not be asked to lead a delegation to resolve the economic abyss over which the world teeters, I read reports thereon with a new understanding.… (meer)