Friday, December 12, 2014

Truth From A Central Banker

Bloomberg asked a large group of the ruling elite to pick the best books of 2014.

Benoit Coeure, member of the European Central Bank’s Executive Board responded:
I don’t read many books on finance. Life’s too short for that and I prefer novels or poetry.
It's obvious most of these guys have not read a damn thing about economics or finance, but it is rare to see such honesty about it.

Topping the list of books mentioned by other elitists are:

Martin Wolf’s The Shifts and the Shocks: What We’ve Learned –- and Have Still to Learn -– from the Financial Crisis

The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies by Erik Brynjolfsson and Andrew McAfee

World Order by Henry Kissinger

House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent it from Happening Again by Atif Mian and Amir Sufi.

1 comment:

  1. OK - I admit I haven't read any of these books, nor do I know much about the authors (except the statist Kissinger) but reading the promotional summaries on amazon leaves me completely uninterested in ever picking up any of them. Even when they seem to get half the answer as in House of Debt... they focus on the borrower rather than dysfunctional government policies and their solution is some form of "risk sharing" and flexible debt contracts! Things that clearly require government enFORCEment, which is actually the source of the problem! I suppose I shouldn't judge these books by their covers so if anyone has read any of these books please prove me wrong.