cover image The Mess We’re in: 
Why Politicians Can’t Fix Financial Crises

The Mess We’re in: Why Politicians Can’t Fix Financial Crises

Guy Fraser-Sampson. Elliott & Thompson (Trafalgar Square/IPG, dist.), $29.95 (288p) ISBN 978-1-908739-06-3

Political responses almost inevitably worsen financial crises, argues finance and economics writer Fraser-Sampson (No Fear Finance) in this thoughtful reflection on the contemporary economic morass that was triggered by the 2007–2008 banking meltdown. The crux of the issue lies in the imbalance between short terms of office and the longer time needed to work out economic problems. Yet Fraser-Sampson is more interested in historical background than diatribe, applying theories from Keynes and Marx, as well as the lessons of the U.S. Marshall Plan, to Britain as a test case. His somewhat rambling review of post-Depression history concentrates on what he sees as the perversion of Keynesian doctrine into justification for permanent budget deficits. His interweaving of history and economics, with its emphasis on postwar Britain, illustrates the often-dire practical consequences of policy decisions. Envisioning a rising tide of potential inflationary disaster, Fraser-Sampson argues for limited government and a restriction of unilateral powers. Policymakers will view this proposal as anathema, and the means of enacting it are unclear. But the basic thesis will surely find supporters, and the ordinary reader may see it as a starting point on the road not yet taken. (July)