Saturday, October 4, 2008
“Economist Fred Harrison proved to be the canary in the housing mine – but few were listening”
The 50 pence racks in the nation’s bookshops brim with books promising an Armageddon which somehow failed to arrive – other than for the author. One thinks, naturally, of The Great Reckoning: Protect yourself in the coming depression by James Dale Davidson and William Rees-Mogg, published in April 1993, on the cusp of what turned out to be one of the world’s great stock market and property booms. But don’t think that being proved right gives your doom-mongering tome a longer life on the bookshelves. Stuck down at around 22,000 on the Amazon sales chart last week (which roughly translates as: one person has bought it in the past week) is a fascinating work called Boom Bust: House prices, banking and the depression of 2010, by Fred Harrison.