1 of 1 people found the following review helpful
Essential reading for investment professionals,
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This review is from: The Road to Recovery: How and Why Economic Policy Must Change (Hardcover)
A stimulating, entertaining and, at times, alarming survey of what is wrong with current economic policy and the economics profession. Smithers' attack on the malign influence of the US/UK corporate bonus culture and assessment of the risks posed by quantitative easing are persuasive and his analysis of the very different challenges facing Japan insightful and new to me.
I felt at times that a firmer hand from the book's editor would have been welcome, notably to cut some of the repetition. I'd also have liked more discussion of how policy-makers should go about altering corporate management compensation structures to avoid or at least mitigate the negative consequence for growth that he highlights: it's not obvious that politicians and regulators are any more likely than shareholders to be successful here.
But overall, essential reading for practitioners of the 'stock-broker economics' that Smithers plausibly mocks.