An original, widely-applicable concept from one of the world's foremost economists. Tim Harford says it is 'persuasive, rigorous, creative and wise. Brilliant'.

'John Kay is an admirable debunker of myths and false beliefs - he can see substantial things others don't. Read this book.' - Nassim N Taleb, author of The Black Swan 'Economics with style as well as substance' - Stephen Bayley, Observer architecture and design correspondent 'Obliquity is a characteristic John Kay production. It is a pleasure to read' - Howard Davies, Financial Times 'How rare is it for an academic economist to write with such clarity, intelligence and courage. And, in these troubled, confusing times, how desperately we need other dismal scientists to follow John Kay's shining example.' - Liam Halligan, Spectator Business"

John Kay is a visiting professor at the London School of Economics and a fellow of St John's College, Oxford. As research director and director of the Institute for Fiscal Studies he established it as one of Britain's most respected think tanks. Since then he has been a professor at the London Business School and the University of Oxford, where he was the first director of the Said Business School. He is a regular columnist for the Financial Times and the author of numerous books, including The Truth About Markets (9781848296723) and The Long and the Short of It (9780954809324).