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thinking about financial warfare did not take recognizable shape until ten years later, in 2009, in response to an even bigger shock, the global financial panic of 2008. GLYN Capitalism Unleashed (Oxford: Oxford University Press, 2007). But when it came to judging the loyalty of Lehman employees, Gregory could be ruthless, given to angry, impetuous decisions.
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It is the tool best suited to meet the economic challenges of the twenty-first century, especially in Europe, where private wealth is thriving to a degree not seen since the Belle? Although precautionary saving in anticipation of short-term shocks does indeed exist in the real world, it is clearly not the primary explanation for the observed accumulation and distribution of wealth.
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