Economy Doesn't Lie

The title of this article is not of my own, but the translation of a book title, invented and written by Guy Sorman.

A great title.

Perhaps for the title, it is one of those books I would like to read, the many on the to-do list …

Guy Sorman writes about economic progress and stresses the importance of good decisions making in the field of economic politics. Or economic policies.

… Sorman explains why there is "only one correct economy: the one that works". (1) the one that Works has moved us recently into a crisis but others haven't worked either:

Socialist economy sunk because "with Socialism, the State pretends it pays the workers, and the workers pretend they work."

He analyzes which economies work and which not or only "at times," And does that by reviewing the economy of different countries.

There are various types of economic policies and one of them is intervention: "there is something worse than avoiding reality; public intervention at a wrong time can sink an economy into depression". The reason for the mistakes is well known: "during times of crisis, magical thinking seems to arise again and erases the rationality which had been reached; demagogy and panic can remove the knowledge taught by economic science."

This is only the information on the flap of the book.

Yet I would like to read this book, although I wonder whether the main statement of the book – economies that work – matches current insights of this post-crisis. I would like to know how financial markets – which are always right – fit into this picture. And if economies don't lie, who does?

(1) – []


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