The Gods that Failed: How blind faith in markets has cost us our future
By Larry Elliott and Dan Atkinson
Bodley Head £12.99

Almost exactly a year ago two economics editors published a book, Fantasy Island (which I discussed in my column on May 25 last year), devoted to the thesis that public and private debt were the greatest threat to the British economy. I remarked that there might be “something in the alarmist case”. But, not being able to foresee the future, I merely concluded that forecasting uncertainties should be resolved in favour of caution.