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The Trouble With Markets

The Trouble With Markets [Kindle Edition]

Roger Bootle
4.6 out of 5 stars  See all reviews (9 customer reviews)

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This enjoyable book... is an excellent explanation of what led to the Great Implosion ... what marks this book out is the admirable care that Bootle has taken to address concerns that a reader who is new to the topic might have. Bootle is also diligent in shooting down some of the most common canards that have flapped their way through the crisis. A clear and cogent guide to the problems and the solutions that lie ahead.
Financial Times

Bootle s book deserves attention because he has been broadly right about his cycle: he warned of the dangers of the asset bubble and the likelihood of the downturn being much more serious than forecasters predicted, but equally he was not one of the depressionists ... where Bootle is helpful is in his tone of moderation.
The Independent

Roger Bootle is one of the best interpreters of modern capitalism around. This account of the crisis and what it means is as important as it is accessible.
Will Hutton, Executive Vice Chair, The Work Foundation and author of the bestselling The State We re In

Compelling prescriptions from an economist unusually able to speak with authority because unlike most of his peers, Bootle spotted that the boom was unsustainable.
Robert Peston, BBC Business Editor and author of Who Runs Britain?

This book will stand out in the explosion of financial crisis literature. Roger Bootle is one of the top, practical economists in the financial world but he is not afraid to tackle the bigger, deeper questions around the future of capitalism, the role of markets and government.
Vince Cable, MP, Secretary of State for Business, Innovation and Skills and author of The Storm: The World Economic Crisis and What It Means

Without any equations but with many challenging ideas, The Trouble with Markets is an excellent introduction to the big questions that surround what Bootle calls the Great Implosion of the last few years... He expresses his own views succinctly and presents opposing arguments fairly...the book is about as good as it gets.
The Business Economist

Ultimately, Bootle offers a way out of this mess that could tame the markets and make them work for the benefit of all. Capitalism, he thinks, can be saved from itself but only if policymakers respond to the challenge.
The Observer

In his last book, Money for Nothing, Roger Bootle predicted with great accuracy the property crash and subsequent financial crisis. In The Trouble with Markets, he offers us a way out of the almighty mess that excessive debt created. It should be made compulsory reading for all policymakers.
Jeff Randall, Sky News business presenter


A brilliant book that puts markets in stunning perspective. Once again, Roger Bootle tackles, head on, some of the toughest economic questions of our time. An extraordinarily penetrating and absorbing analysis.
The late Sir Brian Pitman, former Chairman, Lloyds TSB Group, and senior adviser to Morgan Stanley

This book has a fair claim to the status of must read . Clearly and compellingly written, provocative in its critique and with many suggestions for reform, The Trouble with Markets will command attention from practitioners and lay readers alike.
The Spectator

A short, reliable analysis of the crisis in language that the intelligent general reader can understand.
Robert Skidelsky, author of Keynes: The Return of the Master

A good run across the desolate battlefield of financial markets after two years of meltdown. Bootle writes fluently, his instincts are sound and his criticisms mainly well-based.
Management Today


Roger Bootle knows how markets work, and also when they don't work. Everyone who wants a real understanding of the strengths and weaknesses of the market economy should read this book. --John Kay, leading economist, Financial Times columnist and author of The Long and The Short of It

Product Description

The Trouble with Markets is now fully updated and expanded to include a major new chapter on The Trouble with the Euro based on the winning entry in the Wolfson Economics Prize. On Thursday the 5th of July 2012, Roger Bootle was awarded the first ever Wolfson Prize for Economics; the second largest in Economics after the Nobel. In the Wolfson essay, Bootle looks at a hypothetical break-up of the Eurozone, and the potential ramifications thereof – not only would the EU benefit from an orderly break-up in the long term, he argues, but it may be the only thing capable of lifting us out of the current economic crisis. In this completely updated edition of this prescient and widely acclaimed book, Roger Bootle extends his analysis to include the current sovereign debt crisis, the plight of the euro, the intensity of the squeeze on public spending and consumer incomes, and the boom in commodity prices and gold. Bootle lays out a plan for reform of the financial system and a strategy to get us out of the current mess. And he highlights a course for investors to steer us through these choppy waters.

Product details

  • Format: Kindle Edition
  • File Size: 2115 KB
  • Print Length: 337 pages
  • Page Numbers Source ISBN: 1857885589
  • Publisher: Nicholas Brealey Publishing; 2nd edition (5 July 2012)
  • Sold by: Amazon Media EU S.à r.l.
  • Language: English
  • ASIN: B008HDKPV6
  • Text-to-Speech: Enabled
  • X-Ray:
  • Average Customer Review: 4.6 out of 5 stars  See all reviews (9 customer reviews)
  • Amazon Bestsellers Rank: #189,613 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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Most Helpful Customer Reviews
15 of 15 people found the following review helpful
4.0 out of 5 stars The high road or the low road 29 Mar 2010
The Trouble with Markets: Saving Capitalism From Itself,
Nicholas Brealey Publishing

Review by Richard Whelan

We are at a crossroads worldwide. One road requires a massive cleanout of old ideas and people, a new paradigm for our financial markets. We need a better understanding of economics and finance as well as a significant increase in consumption in Asia to lift us out of our current depression into a hopeful recovery phase.

But if we don't take the high road, the low road will take us back to the 1930s, generated out of a total collapse of confidence in democracy itself. It is a deep irony of the current economic/financial quagmire that the cheerleaders in Goldman Sachs, AIG, etc who brought the free market capitalist system to its knees, could turn into the "useless idiots" (to paraphrase Lenin) who in their denial of their role in these multiple failures, could deliver the coup de grace to the system itself. The growing chorus of those who think the current democratic system cannot solve these problems, and who point to the need for a "Chinese model", may be the first signpost on this lower road. If you think such an eventuality is inconceivable, impossible, or unlikely you really do need to read this book.

Bootle is one of the City of London's best-known economists and commentators having worked in or around the financial markets since 1978. He has challenged prevailing orthodoxy frequently, his 2003 book Money for Nothing correctly anticipating the current financial crisis.

He takes no prisoners in setting out how we got into the current mess: "The Great Implosion has laid bare several different kinds of failing. First, it has revealed just how fragile the financial system is.
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13 of 14 people found the following review helpful
4.0 out of 5 stars A sound analysis - but written for Americans? 3 Jan 2010
By Ben
Format:Hardcover|Verified Purchase
Roger Bootle is a seasoned City commentator, well known to many of us from the 1980s Big Bang era in which the present crisis has its roots. A clear thinker, Roger Bootle has maintained an independent and at times openly critical view of the crass herd mentality so prevalent for so long in banking / politics.

This is a well written and fairly concise book that accurately defines the present economic mess, analyses the causes and, crucially, puts forward practical, workable solutions. However, the book is marred to some extent by the publisher's decision to use American English throughout combined with references to "the man in Peoria, Illinois" and suchlike, presumably in a bid to boost its appeal to our friends across the pond. For those of us who know the author as a quintessentially English economist, this can at times be a little irritating - and is a touch ironic given the fact that it was the British establishment's unquestioning embrace of recklessly aggressive, winner-takes-all American cowboy finance, that precipitated the 2007/09 `Great Implosion'.

The author reminds us of the obvious (but widely overlooked) fact that markets have significant imperfections and failures. This in turn raises grave doubts as to the wisdom of government policy over the last 20 years of applying the `market knows best' model indiscriminately to broader society and to natural monopolies such as household energy supplies and railways. Perhaps the supreme irony is that the grotesque levels of `compensation' and obscene City bonuses are only made possible thanks to the profound imperfections in financial markets - i.e. a lack of competition, lack of transparency, insider trading and other distortions in the market structure of investment banking / trading / M&A etc.
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23 of 26 people found the following review helpful
5.0 out of 5 stars Thought-provoking and insightful 19 Oct 2009
This is the most insightful and well-argued book that has surely yet appeared on the recent financial crisis. Roger Botle is arguably this country's leading economist and his detailed and thought-provoking analysis and conclusions are a must for anyone with a degree of interest in understanding the recent economic problems that have affected us all. Clearly written, logical and compelling, you do not need to be an economics guru to understand and enjoy this excellent book.
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2 of 2 people found the following review helpful
Format:Paperback|Verified Purchase
I love Roger Bootle's Monday column in the Daily Telegraph, so bought his book which takes you to October 2011. He sifts the evidence, comparing similar events in the last 100 years and exposes how wrong financial experts can be and explains the possible outcomes. He does not pull his punches, explains things well, though I did need to check the meanings of his less common words.
I certainly have a better understanding of what is going on as a result and commend it to those who want to try to understand what is happening to us, to Europe and to the World economy as a whole, and why it is happening!
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2 of 2 people found the following review helpful
5.0 out of 5 stars Bootle fan 12 Aug 2011
Format:Hardcover|Verified Purchase
I am a Roger Bootle fan in the first instance so there is a sort of self affirming aspect of reviewing any of his books.

I purchased this a while ago and recently revisited it as a light holiday read. It is well written, easy to follow and provides a typically Bootle non-consensus view on the world.

Thoroughly recommend.
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