Early in James Michener's book Hawaii, a South Sea island is experiencing the rise of a new and violent deity. The high priest of this new religion periodically turns and points to a bystander who must be sacrificed to appease the new god's anger. A haunting phrase echoes through these pages as people lament that "life is dangerous when the gods are changing". Well, Alan Greenspan hasn't quite been deified but he has become widely regarded as the apotheosis of a central banker.
The week on Risk.net, December 2–8, 2017Receive this by email