The Book Bernanke Should Have by his Bed

Posted by | January 05, 2009 | Uncategorized | No Comments

Niall Ferguson reviews Lords of Finance:

“As the world teeters on the brink of another great financial cliff, we can only hope that the modern-day Lords of Finance will co-operate to better effect. I suspect none has much time for bedtime reading these days. But should Messrs Bernanke, King and Trichet need a reminder of what can go wrong when central bankers achieve only the semblance, but not the reality, of co-operation, Lords of Finance is the book they should read.

As a matter of urgency, a Chinese translation should also be sent to Zhou Xiaochuan, governor of the People’s Bank of China.”

(Pedant’s note: A brink is an edge of a cliff. Its funny that the expression “teeters on the brink…” which is normally used as a metaphor, e.g. “teeters on the brink of recession” jars like a mixed metaphor when used in its literal sense, as it is here.)