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.
Posted by Editors on June 12, 2008 at 2:43 pm
Agence France-Presse report that yesterday’s surge in oil prices is receding. Read the full article here.
In chapter 7 of The Gods that Failed, Larry and Dan outline the four distinct phases of a speculation bubble: 1) A change in the economy causes a rise in asset prices; 2) overseas speculators buy up shares, driving the price higher; 3) in the rush to buy, speculators throw caution to the wind; 4) an inevitable collapse as credit tightens.
It happened to the housing market - could it be going the same way with oil?
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Posted in Latest News, Background, Fuel Prices | ^ Top
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