Economics

The Economics of Radical Uncertainty

The former Bank of England head urges the finance industry to rethink risk.

Big storm or small?

Photographer: Richard Packwood/Getty Images

Mervyn King's new book on the financial crisis and its aftermath is not what you might have expected from the former head of the Bank of England -- from an official, that is, who played a crucial role before, during and after the crash. "The End of Alchemy: Money, Banking, and the Future of the Global Economy" isn't a memoir. There's no blow-by-blow narrative and no attempt by the author to justify what he did or failed to do. It's more ambitious and more daring than that.

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