The Gods that Failed: How Blind Faith in Markets Has Cost Us Our Future

The Gods that Failed: How Blind Faith in Markets Has Cost Us Our Future

by Larry Eliott, Dan Atkinson
     
 

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A devastating assault on the delusional, faith-based thinking that markets can, unaided, create heaven on earth.

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

Overview

A devastating assault on the delusional, faith-based thinking that markets can, unaided, create heaven on earth.

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 tranquility 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. 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 "labour flexibility."

Product Details

ISBN-13:
9780786744145
Publisher:
Nation Books
Publication date:
02/03/2009
Sold by:
Hachette Digital, Inc.
Format:
NOOK Book
Pages:
304
File size:
364 KB
Age Range:
18 Years

Meet the Author

Larry Elliott is the long-time Economics Editor of The Guardian. In 1997 he won the Business Journalist of the Year Award from the UK Press Gazette. He is a regular broadcaster on the BBC. He lives in London.

Dan Atkinson is the Economics Editor of Mail on Sunday, one of Britain’s highest circulation newspapers. He is an expert in issues of regulation and fraud. He lives in Sussex.

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