Short description
Explains the causes of the world economic crisis and how we should respond to the challenges it brings. This book urges readers to resist the siren voices that promote isolationism and nationalism as the answer to economic woes.
Long description
This is the bestseller on the credit crunch. In this brilliant short book, Vince Cable, 'the sage of the credit crunch' ( Daily Telegraph ) explains how we got here and where we're going. In The Storm , Vincent Cable explains the causes of the world economic crisis and how we should respond to the challenges it brings. He shows that although the downturn is global, the complacency of the British government towards the huge 'bubble' in property prices and high levels of personal debt, combined with increasingly exotic and opaque trading within the financial markets, has left Britain badly exposed. Yet we need to be vigilant in our response to the dangers confronting us. Times of crises inevitably bring forth false prophets who offer easy panaceas and identify scapegoats. However, Cable shows that an insular response to the current crisis would be a disaster and urges us to resist the siren voices that promote isolationism and nationalism as the answer to economic woes. He argues that policy makers must keep their faith in liberal markets if the remarkable advances in living standards, which are now being extended to the world's poorer countries, are to be maintained. This book is suitable for readers of The Age of Turbulence by Alan Greenspan, The State We're In by Will Hutton and The New Paradigm for Financial Markets by George Soros.
Review
* 'Cable's the star of Newsnight's credit-crunch discussions, the go-to guy for a sagacious economics quote for broadsheets' front-page leads, the man whom Tory Alan Duncan described as the holy grail of economic comment these days .' Stuart Jeffries, Guardian 'Everything a politician should be and everything most politicians are not.' Jeff Prestridge, Mail on Sunday 'A heavyweight in anybody's cabinet' Matthew Parris, The Times