Thursday, August 05, 2010

Vince Cable

I have been reading Vince Cable's latest book, The Storm: The World Economic Crisis & What it Means

Vince Cable was called, "The man who gives politics a good name" and "The only British politician to emerge from the credit crunch as a star". He was previously Chief Economist for Royal Dutch Shell and a Labor Councillor, befor switching to the Liberal Party for which he was Deputy and then Acting Leader. Now he has joined the Liberal/Tory coalition and is Minister for Business Affairs in the new government.

He is pretty scathing about Gordon Brown's claim to have ended boom and bust and blames the Labor government for failing to control house price inflation and failing to recognize how Chinese savers were funding the continuing prosperity in the West.

This is a technical book that is not particularly well written, but it is interesting and quite revealing about how little politicians know about economics and how they tend to react to the newspapers without any thought.

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