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- Product code: 262143
- ISBN: 1847920306,
ISBN13: 9781847920300,
304 pages, paperback
Published by Vintage, 2008
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Rating: 3.8/5 (5 votes cast)
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Description of The Gods That Failed |
Since the late sixties, control of our economy has passed into the hands of a new elite of super-rich free-market operatives and their colleagues in national and international institutions. These New Olympians, so named because of their remoteness from everyday life and their lack of accountability, are unconcerned with - in fact, hostile to - job security, social tranquillity and the traditional middle class aspiration for both the good life and the quiet life. This group has sought to insulate itself from democratic challenge and to make irreversible the legal changes from which it has profited so enormously. It has insisted with the certainty of the fanatic that there is no alternative. Aside from the obnoxious principles involved, the rule of this financial elite has brought not prosperity but sluggish growth in living standards, a debt explosion, and now a major crisis of international proportions as a vast borrowing bubble starts to deflate.
Elliott and Atkinson argue that the coming crisis will shatter all remaining faith in the empty dogmas of shareholder value and labor flexibility. The French farmer, the Detroit car worker, and the Cornish fisherman are right. The smooth-talking central banker, hedge-fund manager and trade commissioner are wrong. Markets are not magic. Debt is not freedom. The Gods have failed. It is time to live without them.
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About Larry Elliot and Dan Atkinson |
Larry Elliot and Dan Atkinson are Economics Editors of the Guardian and the Daily Mail respectively. They are the co-authors of Fantasy Island and The Age of Insecurity.
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