Judging by accolades and growing rating of Mervyn King's book, it could become this year's Picketty's 'Capital'. Mervyn was a governor of the Bank of England for a decade during 2003-2013 and he now claims, if I understand correctly the reviews, that some of the fundamental principles underlying capitalist economy don't seem to work anymore. Moreover, if I interpret correctly, he argues that the central banks are pretty much out of ammunition to reignite Western world economies, but miss the pivotal behavioral change: the growing uncertainty, the defensive and saving mood prevailing the minds of businesses and individuals after the crisis. As I understand he advocates 'skepticism', unlike previous ever-optimistic assumptions that always resulted in leveraged and inadequately secured approach. Sounds like an interesting perspective, moreover that many feel that something doesn't work as it should.
Sounds like an interesting perspective, moreover that many feel that something doesn't work as it should.