Nine Crises: Fifty Years of Covering the British Economy - From Devaluation to Brexit

by William Keegan

In this lively and wide-ranging account, journalist William Keegan takes us on a tumultuous journey through the past fifty years of our economic history – and looks ahead to explain why Brexit poses the biggest existential threat the British economy has yet faced. Peppered with anecdotes and memories from the author’s illustrious career.

Genres: Politics, Nonfiction

304 pages, Hardcover

Published September 3, 2019

Reviews

[Deepak Gulati · Rating 3 out of 5]

A fascinating look into the various crises the British economy has faced since World War II. It's written as a series of reminiscences from author's time at various newspapers and Bank of England during the said crises.

While some figures such as rate of unemployment, inflation rate etc. were quoted, for a book covering the economy, the economy of charts and tables was a little surprising (by which I mean there were none).

Overall, for someone who didn't live through those days, it was a little hard for me to get a sense of proportion of each crisis. The book felt more like reading a Mad Men-esque period drama than serious economic history.

[Jeffrey · Rating 3 out of 5]

For those picking up Nine Crises hoping to find some analysis on the crises listed, with some historical context and analysis of the causes of the crises and their aftermath, they will be slightly disappointed. Instead, the each chapter on the crises is largely Keegan's personal reflections on the crises, with some reflections by contemporaries. With that in mind, Nine Crises is largely an enjoyable read, with some decent political insights into the process. Keegan himself is a perceptive person (although that may be with the benefit of hindsight), as well as a witty writer - for example is term "sadomonetarism" to describe the harm inflicted by the misguided belief in monetarism.

Overall though, I would find it hard to recommend this book to anyone who did not have a strong interest in British economic history. I would especially recommend to those short on time skipping the first section which is just Keegan's self-reflection on his career. Although the last section of interviews with various Chancellors was for me the unexpected highlight of the book.

[Robert · Rating 3 out of 5]

An interesting read, the highlight for me was the interviews conducted with past chancellors long after their terms of office. This provided a reflection on economic events long after the dust had settled in the context of the personalities involved.

The rest of the book provided a chronological history of key economic events along with context and insight into causes along with some views on the efficacy of the solutions. For me however the narrative was too heavily coloured by the authors own views and reminders of how he might have chosen a different course at the time.