November 28, 2014
Martin Wolf, chief economics commentator at the Financial Times, named Fragile By Design to his list of best economic books of 2014.
We get the banking systems we deserve or, more precisely, that our political systems choose. The US has had 12 systemic banking crises since 1840, while Canada has had none. Better awareness of how the political forces work might lead to superior bargains. But this informative book does not leave the reader optimistic. It is hard to shift bad political equilibria.
» See FT’s Best books of 2014.