Beware the Ides of Mogg

Will Hutton

  • The Great Reckoning: How the world will change in the depression of the Nineties by James Dale Davidson and William Rees-Mogg
    Sidgwick, 531 pp, £20.00, January 1992, ISBN 0 283 06116 2

This book warns that the world is on the threshold of a savage deflation caused by too much personal, corporate and government debt. Lord Rees-Mogg and his American acolyte, to whom is attributed all the leg work, have been bold enough to set themselves up as 20th-century prophets of doom with more than a modicum of good reason. But their pessimism arises as much from flagrant conservative prejudice as from historical, economic and political analysis.

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