The book I read to research this post was The Trouble With Markets by Roger Bootle which is an excellent book which I bought from kindle. This book won the 2012 Wolfsson Prize For Economics Books & I think quite rightly. Many people think the current free market economy and the search for wealth is as old as mankind. This book addresses this and apparently the Pilgrim Fathers for example would have thought it was the work of the devil. In times past there was very limited opportunities for people to amass wealth. Generally the wealthy stayed wealthy and the poor remained poor. Many people thought becoming a merchant was against their religion and this book argues that we still haven’t got our economic model quite right. People gave more to charity in times past and thought we have a less satisfying experience in this life as a means of getting eventually to heaven. There is apparently a 60-80 year cycle where the economy repeats itself and currently we are coming out of a great recession. Many banks have over extended themselves and the euro currency in particular is in a crisis. Some banks like Lehmans it has been uneconomical to bail out and others like Northern Rock have been nationalized and then subsequently sold at huge losses. In the 30’s our last great recession the gold standard ended and in those days in the vast majority of countries there was no subsistence of any kind. According to this book inflation in the West will stay relatively stable despite increases in recent years. Many banks gave loans linked to inflation to borrowers the Americans call ninjas which stands for no income, no job & no assets. A few years earlier this loans wouldn’t have been allowed. Funnily enough the financial press did little to warn people and businesses of the dangers. Many of the so called Asian Tiger economies have huge surpluses where as many countries in the West have deficits. Most of these Tiger countries spend little on infrastructure and have minimal restrictions on business so attract lots of investment. This is a very interesting book written in an understandable way & I thoroughly enjoyed reading it.