PQ Magazine Book Review November 2011
Quantitative Wheezing -When Capitalism Went Wrong by John Smith
(Heathland Associates. Price £8.99 paperback, £4.29 Kindle)
Qualified accountant John Smith is the first to admit that when it comes to economics he is an amateur. However,when on 15 September 2008 Lehman Brothers filed for Chapter 11 bankruptcy he realised something big was happening. So to help himself understand he started to keep a diary, and with the help of Heathland he has published his daily account of events. It is a really intriguing way of approaching the subject and will, over time, become an important snapshot of economic history.
We only say that because it all seems very fresh now. There is, he feels, little doubt that capitalism went wrong. In fact, he feels we were all taken for a ride by a load of greedy investors and bankers.
That message may be a little bit too political for some, but then the truth will out.
PQ rating **** Smith stresses that our grandchildren’s future has been put on hold, thanks to bankers and greedy shareholders.