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    Welcome to The Gods That Failed blog.


    Our new book was published on 5 June by The Bodley Head, and we've set this up to give ourselves, and the public, the chance to learn about and discuss the economic crisis that we're currently all facing.

    It's high time people realised how and why we've reached the state we're now in. The Gods that Failed argues that we need a new system: instead of an increasingly risk-prone, privatised, profit-driven economic model overseen by a largely unaccountable and speculation-obsessed elite, we need an economy that is run and regulated in the interests of ordinary people.

    The Perfect Storm


    Posted by Editors on June 11, 2008 at 11:34 am

    In Chapter 9 of The Gods that Failed, Larry and Dan point out the strange frequency of the phrase ‘perfect storm’ in the media - no longer just a meteorological term, it is now the official tagline of crisis in general.

     ‘The state of the global economy in the first half of 2008 made it a prime candidate for the “perfect storm” thesis… As the chief economist of the International Monetary Fund, Simon Johnson is hardly one for apocalyptic visions of the future, but in November 2007 he popped up to warn of a “perfect storm” caused by the interaction of turmoil on the financial markets and the spiralling cost of energy.’

    Today, Larry Elliott and Ashley Seager report on Mervyn King’s admission that we will see more ‘turmoil in the markets,’ and his plan for improved regulation. And it seems the storm is spreading to the rest of the world. In South Africa, the national Times reports a ‘near perfect storm in housing.’

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