“This extraordinary book should be read and understood by every politician and economist, every financial sector participant and every concerned member of the public. If even the preface were widely understood, people of good faith across our political and financial system would recoil in horror at what they have done and continue to do.
“They won’t of course. For politicians, the implications are too inconvenient: a massive bust and intolerable spending cuts are inevitable. For economists trapped in a flawed paradigm which ignores the importance of time and knowledge and knows little of monetary economics, it is all too human to cast aside evidence that one is wrong. Alas. They have been told, and there will be no excuse when the day of reckoning comes.”
Rt Hon Steve Baker FRSA is a former minister and member of Parliament who served on the Commons Treasury Select Committee which holds the Bank of England and other institutions to account. He co-founded The Cobden Centre in the aftermath of the Global Financial Crisis.
The Age of Debt Bubbles was published by Springer Nature this year and is available now.
