This classic saying from the New Testament (Matthew 7:16) confronts effect and cause. A bad effect is not likely to have a good cause, and vice versa. Thorns do not bear grapes, and we find no figs on thistles. We should therefore not rely on fine words and theories. What counts are the effects that arise from them.
Recently (on 14 August) I had the good fortune to follow an interview with the British historian Adam Tooze on Austrian Radio. I was so impressed that I immediately took to reading his book “Crashed. How a Decade of Financial Crises Changed the World” (Allen Lane 2018) ) – and so an important work finally reached me with a two-year delay. These are my comments: