Over the weekend, just ten years ago, the investment firm Lehman Bros collapsed, and the world economy collapsed after it. I feel a little reluctant to add to the torrent of words trying to read the runes of this catastrophe for the better management of affairs in the future.
But, by chance or cunning, a book of mine, called Money and Government: A challenge to mainstream economics, has just been published. This tries to set the collapse of 2008 in a historical context. It has been inspired by John Maynard Keynes, who believed that the collapse of the 1930s needed the response of a new economic theory, and a new, or rather very old, conception of statecraft.