Hayek and His Overcoat

Geoffrey Hawthorn

  • The Wealth and Poverty of Nations by David Landes
    Little, Brown, 650 pp, £20.00, April 1998, ISBN 0 316 90867 3
  • The Commanding Heights by Daniel Yergin and Joseph Stanislaw
    Simon and Schuster, 457 pp, £18.99, February 1998, ISBN 0 684 82975 4

There was an occasion on which the ruler of Balkh, in Central Asia, went to make war. Nomads, taking advantage of his absence, seized the city. The inhabitants put up a good fight, for themselves and their ruler, but lost. The ruler returned, despatched the invaders, and upbraided his subjects. War, he told them, was his business: theirs was to pay and obey. Their leaders promised not to repeat their lèse-majesté.

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