15 min read 1 Jul 20
Summary: This new book by Eric (an M&G multi-asset fund manager) and Mark (an economics professor at Brown University in the US) is getting a lot of attention at the moment: Martin Wolf put it on his list of “must read” books for FT readers over the summer, and the book’s ideas are very much answering the big questions of today. Why are we all so angry? Where did these culture wars come from? Why have populist governments replaced the stable, sensible technocrats that we thought were a permanent feature a few short years ago?
By the magic of Zoom (not just for quizzes) I was able to speak to both Eric and Mark about the book. Here’s what they had to say about both the types of anger that have driven the crazy political world that we now live in, and their suggested solutions to the causes of that anger (clue: negative interest real rates are pretty useful here…).
The value of investments will fluctuate, which will cause prices to fall as well as rise and you may not get back the original amount you invested. Past performance is not a guide to future performance.